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At 04:00 PM 12/2/99 -0500, Canyon678@xxxxxxx wrote:
>Too much emphasis is being places on losing /missing ticks/ bmi server/
>memory leakage / 2 minute bars etc.
>
>...Buffet, John Train, Peter Lynch, Markovitz...are millionaires (plus )
been in the business almost 50 years,
>and yet dont look at tick / intraday charts. Not even once in Peter
Lynch's books / Michael Price / Buffets interview have
>I seen stochastics, 14 period RSI, MACD being mentioned.
>It is interesting. Food for thought.
>Mike
I thought about it. They are smart, and I am stupid. Twenty years ago I
should have bought stocks for about 100 million and keep them till now.
Opps, I did not have 100 mil (but it is minor detail). My starting trading
capital was about 10K. (Excuses, excuses). Now as I am smarter, I want my
son (he is 6 now) to trade as Buffet, not as his father. As soon as he is
about 10 I will give him trading capital and teach him how to take a
position (let say Diamonds, Spaders) at 4 years lows and keep forever
protecting against the decline with LIPS. In between his trades I will pay
his bills.
Most people on this list (my uneducated guess) are in the position that
they need to pay their bills themselves. So they took the capital they
could muster and trying to make a living from the short term market
fluctuations with all the leverage they could master. Money from the gains
are used to pay the bills. So those people have to discuss missing ticks,
RSI and MACDees (is it a kind of hamburger?).
On the other hand, as much as I understand (usually, not much) Buffet not
only looking into stock price pricing and balance sheet balancing. I
monitor his stock purchases (when that became known). In my opinion Mr.
Buffet is astute technical student of the market (just look at his recent
purchase of KO after the break out of multi year consolidation).
Unthoughtful Alex.
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