|
PureBytes Links
Trading Reference Links
|
Dear Daniel,
It is a pleasure to dialog on this subject witout personalities
involved. To your points.
1. Time will tell whether the rally is significant. Right now from
what I see it is a matter of informed opinion and not fact.I am on
the side of significance for numerous reasons posted.To me it would
be like saying the drop in 1987 was not significant.
2. Your speedometer analogy is lost on me. You control the speed on
your speedometer. The market controls your indicaters usually in a
lagging way.
3. Driving a car is in no way comparable to trading. In debating
circles that is to me "begging the question". I do believe that there
is that one in a million or more who can successfully use
Pitchforks.But I may have only seen one or two do it.It is not as
easy as "advertised".
There is only one Babe Ruth, Hank Aaron , Ted Williams {RIP}, and
Barry Bonds. Of note they do not all come around at the same time.
Regards,
John
------------------ Reply Separator --------------------
Originally From: Daniel Goncharoff <thegonch@xxxxxxxxxx>
Subject: Re: [RT] Questions
Date: 07/07/2002 01:53pm
John Cappello wrote:
>
> 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.
I find your comment interesting, since it contradicts the commentators
calling Friday's rally a relief rally after the absence of organized
terrorism on the Fourth of July.
Someone else expressed my thought already: the rally is not
significant
(whatever that means) until it breaks the downtrend. OTOH, it was a
great money-making opportunity in the very short term, so to that
extent
is was already significant...
>
> 2. No indicater battle from me...just that your sppedometer does not
> predict hoe fast or slow you will go.
Not completely true. It does tell me how fast I will go if my speed
doesn't change, and it tells me when my speed does change, so I know
whether the previous piece of information is still useful.
>
> 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.
So you admit is is possible; now we are discussing how prevalent
success
might be. Driving a car successfully also takes coordination and
perception. Millions do it. Computers still can't. Why do you think
using pitchforks (which, BTW, I don't) is closer to home-run hitting
than driving your car??
Regards
DanG
>
> 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
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
> http://docs.yahoo.com/info/terms/
>
> ------------------------ Yahoo! Groups Sponsor ---------------------
~-
> ->
> Free $5 Love Reading
> Risk Free!
> http://us.click.yahoo.com/Pp91HA/PfREAA/Ey.GAA/zMEolB/TM
> --------------------------------------------------------------------
-
> ~->
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
> Your use of Yahoo! Groups is subject to
> http://docs.yahoo.com/info/terms/
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
> Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
------------------------ Yahoo! Groups Sponsor ---------------------~-
->
Will You Find True Love?
Will You Meet the One?
Free Love Reading by phone!
http://us.click.yahoo.com/ztNCyD/zDLEAA/Ey.GAA/zMEolB/TM
---------------------------------------------------------------------
~->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Will You Find True Love?
Will You Meet the One?
Free Love Reading by phone!
http://us.click.yahoo.com/ztNCyD/zDLEAA/Ey.GAA/zMEolB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|