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Dear Daniel,
In response to the items you noted:
1. I think the rally was significant, especially in light of it
coming before a weekend that threatened terrorism. I am sure the
change in short interest numbers when available will help as will the
actual volume numbers. It would be most unusual in the history of the
US for the second half of the second year of a first term President
to be a down one. This rally is just the start of that, to me. That
plus sound economic numbers which will eventually justify Dow PE's
are some of my reasons.
2. No indicater battle from me...just that your sppedometer does not
predict hoe fast or slow you will go.
6. Barry Bonds has God given eye hand co-ordination plus talent. He
is one in multi-millions. If you keep that same analogy, that is
where I come from re. Pitchfork lines even math generated.If there
are people who can successfully use Pitchforks alone, they are one in
millions. They tell the past and attempt to foretell the future.
Now you know better than to suggest I write a program for talent and
experience.As I see it one is God given and the other is time
dependent.
Sincerely,
John
------------------ Reply Separator --------------------
Originally From: Daniel Goncharoff <thegonch@xxxxxxxxxx>
Subject: Re: [RT] Questions
Date: 07/07/2002 07:44am
John Cappello wrote:
>
> 1. What makes anyone think that a rally as significant as Fri. was
> just short covering?
What makes you think the rally was 'significant'? If we look at mid-
June
we had a trough-to-peak move of similar size, and then continued the
downtrend. The right question is how does anyone know whether those
who
were absent Friday come back as buyers or sellers? My solution is to
buy
volatility, and let the market figure out where it wants to go...
>
> 2. What makes anyone think that Hurst Channels will be anything more
> than just another indicater given the amount of work put into it.
I don't want to start the indicator battle again, but I like
indicators,
rather than just relying on price itself, in the same way I like
having
a speedometer in my car, although I can judge my speed by the rate at
which stationary objects move past.
>
> 3. Why should Norm offer more sound advice than he already does at
no
> charge?
>
> 4. Why were most TA people pointing their indicaters down on Fri.?
>
> 5. Why do people seem to think that the ability to program
correlates
> with coming up with sound ideas that are useful for real time
trading?
>
> 6. How can pitchforks be reliable when they are so dependent upon
the
> eye and perception?
How can Barry Bonds hit so many home runs, when making contact is so
dependent on the eye and perception?
Perhaps you just can't write a computer program for talent and
experience.
Regards
DanG
>
> These are just a few questions I have had after seeing so many posts
> on these subjects.They are meant for educational purposes of myself
> and perhaps others. I have more, but they can wait.
>
> John
>
>
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>
>
>
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