glittering prospects - smh 13/11 - fml 17 cent, page-19

Hi Pinto,

I understand what you are saying, but my opinion is based on what the chartist himself feels the numbers mean! In other words I don't really look at the chart, as the person submitting it usually does the interpretation. They will say stuff like "you will see from the 200 day moving average that it has not broken out of it's trend line so we may have a move to the upside soon", and lot's of witchcraft like that. I then take note that "this guy thinks it will go up soon." I then watch and see if he is right. If it does go up I think he may have some idea and keep watching, if it goes down, I think "there is another nut job thinking he can see patterns where there are none."

Mostly I have observed that charts tell the PAST and are useless in predicting the future. I did not see one that said "my charts at 7.6c say FML will be 5.8c by Nov so sell immediately and buy back then".
However, as I have noted before, you tend to create your own reality with your beliefs and thoughts. I am suspicious of charts, don't really believe in them, and that is what I observe as truth in my reality. If you were really into charts and believed in them, you may well see evidence that they work around you.

Having said that, I seem to have done better than any chartist I know personally, and if it really worked, and you could really "crack the code" you would see a lot more chartists retire on the beach rather than offering to sell their advice and charts to you.

I did not see one chartist predict 9/11, but those that bought when blood in the streets afterward, made a fortune.

I have followed a few on this board that were bold enough to post charts and have not seen anything special. One said he told us when it would go up, but forgot to post when he predicted it would go down, hmmmm

Good luck to us all!

IE