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Bill and Haytham:
Well, I am no Bulkowski. But I am a prolific chartist. I hand chart 20
commodities a day and I have been doing so for more than 20 years. Anyone
that has spent any time doing serious chart work would never believe that
rate. It's not even in the ballpark.
And frankly, now I know why colleges continue to teach that technical
analysis is junk and doesn't work--that sort of shabby misrepresentation of
reality is just inexcusable.
I guess that will be the title of a chapter in my book: 5 percent failure
rates of triangles--How to lose money trading without really trying.
Have a nice long holiday weekend, folks.
Tim Morge
At 10:49 PM 5/25/2001 -0400, you wrote:
>Tim:
>
>Believe it or not those are the statistics that Bulkowski gives in his
>book "Encyclopedia of Chart Patterns."
>
>Bill
>----- Original Message -----
>From: <mailto:tmorge@xxxxxxxxxxxxxxx>Timothy Morge
>To: <mailto:realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
>Sent: Friday, May 25, 2001 10:42 PM
>Subject: Re: [RT] No evidence for lower NASDAQ yet
>
>Haytham:
>
>I have to call you on this one. On your gif you claim a failure rate of
>only 5 pct of an upside triangle breakout?
>
>Errrr...You'll have to pull out some serious proof. Cause that just ain't
>so. It ain't even close to single digits...in fact...well, let's just say
>it ain't in that ballpark.
>
>Best,
>
>Tim Morge
>
>
>
>At 09:27 PM 5/25/2001 -0400, you wrote:
> >here is why I don't agree with NASDAQ to go lower based on what we know.
> >
> >Haytham
> >
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