cyclic's - letting the madness out thursday, page-110

Hi Funky,

I can't talk about Martis recent work, I have him on ignore. But - honestly - his TA was not sound. I'll give you two examples.

First - the big inverse head and shoulders. For that to be valid - a H'n'S formation has to have something to reverse. There was virtually nothing to reverse - so the formation should be ignored. The formation was also so oddly shaped and skewed - that it was always in doubt. Highly skewed formations are always suspect. But - no. Martis had to have a grand moment with it.

Next, I specifically took him to task when he stretched credibility by describing a W formation as a Diamond formation. Almost everything he said about that formation was wrong, wrong, wrong.

Then - he came with his riposte. We'll see who's right, Redbacka.

Big mistake, in my opinion. Technical Analysis is not about being right. It's about using some reasonably sound principles to make money and manage risk. Ego should have nothing to do with it.

Redbacka.