satday shuffle, page-28

"Perhaps there is another way to look at T/A, not from the viewpoint of empirical truth, but from self fulfilling prophesy.
That's the weight I give it. ie If a large enough % of the market uses or at least gives credence to say Fib ratios, then it would seem reasonable to be alert to that bias (whether fact of perceived)?"

Absolutely -- I actually said something to this effect earlier on, using the recent collapse of the AUD upon breaching the 200MA. While it doesn't prove anything about the fundamental assumptions underpinning TA, it did demonstrate that a lot of players were obviously placing their stops at that point. So it certainly pays to find out where people are placing their bets.

So another (more practical) reason I drop in on the discussions of the TA crowd.

I must admit some of the reasoning still makes my head spin, however... but it's all cool. Live and let live, I say.

-Mark