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I watched his paltalk live updates for one day which is just buy and
sell without me being able to see his charts. He had some good calls,
some good but late ones and one buy call at a top.
:On Thu, 28 Nov 2002 12:38:49 -0500, you wrote:
>>Hello RB,
>>
>>It's been a while since I used his Floor Trader Tools that included
>>the cycle identifier. But I can say I stopped using them. I hate
>>black-box indicators and always found Roy's explanations be so vague
>>as to not give my any sense of what the indicator is telling me. He
>>did say it is not stochastic-based as his former partner Bressert
>>does. Like so many indicators, don't put much faith in
>>after-the-fact charts. His indicators signal a turn but then
>>"turn-off" if price doesn't do what it is supposed to. Unless you
>>mark them yourself, you never know how many/where false signals were
>>generated.
>>
>>So in effect what you get is a signal that says "this may be a turning
>>point based on whatever goes on inside this indicator." I think you
>>could do that with any number of simpler, open-code, no-cost
>>indicators. E.g., various reversal bar patterns occurring after a
>>minimum of X bars from previous swing high or moving average
>>oscillator signals.
>>
>>I didn't find the indicators very worthwhile.
>>
>>
>>Best regards,
>> Jim Johnson mailto:jejohn@xxxxxxxxxxx
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