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You know what this is beginning to sound like? If you ever saw THE HOLY
GRAIL then remember when the King Author was galloping on foot down the
road and the guy following him was making sounds like horse hoofs with
coconut halves? King Author asked where is your king etc, ect. One of the
two guards posted at the castle yell you don't have a horse those are
coconut halves and your banging them together!
King Author ignored the comment and repeated the request. Then the other
guard said they weren't from here they had to migrate here. The other guard
said what do you mean migrate coconuts don't migrate!
The guard replied well maybe a swallow brought it. Then they begin to
argue about swallows , wing span, weight ratios etc, etc
Robert
At 02:17 PM 5/28/00 -0400, editorial@xxxxxxxxxxxxx wrote:
>-- Gary wrote:
>
> > I think you're making an unwarranted assumption --
> > that people trade using intermarket analysis because
> > they believe in a causative relationship. I believe
> > many people who use intermarket analysis could care
> > less whether X causes Y, or Y causes X, or parakeet
> > causes kumquat. They've just observed that there is
> > a high degree of correlation between X and Y, and
> > they've devised rules that allow them to trade
> > profitably using that correlation, and that's ALL
> > they care about...
>
>
>You may be right, in which case you will agree that their analysis has no
>more foundation that the man who trades based on the high correlation of
>stocks to the Lakers vs. Portland results? You'll agree that high
>correlation is the only requirement, not causation, and that therefore any
>high correlation is material for trading using this "intermarket" theory?
>
>
>Reading at:
>
>http://www.murphymorris.com/JMEMAv2.html
>
>it sure sounds to me as though Murphy, as one intermarket analyst, sees
>causative relationships between markets:
>
>"Bond prices are very much effected by the direction of the commodity
>markets, which in turn depend on the trend of the US dollar..."
>
>What baloney.
>
>I'm still waiting to hear from all those who've purchased Murphy's
>"bestseller" on this topic. Where are you all? Just who out there is
>using this form of analysis? We've debated the theory, our positions are
>staked, now why don't you come and prove one side or the other
>right? (I'd love to be proven wrong and see how action in one market can
>be used to trade another so please, step up to the plate!)
>
>
>All the best,
>
>OM
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