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----- Original Message -----
From: "Don Thompson" <detomps@xxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, May 31, 2001 12:53 AM
Subject: [RT] hocus pocus stuff
: I personally don't see how this gives TA a bad name since most of the
stuff
: I read has no probability
: connected to it. Tell my why its hocus pocus???
You made a claim (below):
: > A gap up open in the SnP futures is almost a no brainer buy. If it for
: some
: > reason would make a lower low, this would be an even better opportunity.
: > The odds for an up close with a gap up open in the SnP futures is better
: > than 80 percent.
Without anything to back it up.
I then did a simple 'buy on a gap up open and sell at the end of the day'
test to see if your claim is valid. I find it not to be. It is this claim
without any valid proof to back it up that gives techincal analysis a bad
name.
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