spi got sold off, page-27

re: spi got sold off gann45 gann45

One reason why I rely so little on charts is that the big boys have so many resources at their disposal that the ordinary bloke in the street can not compete. There is no way that even an experienced trader with a few million to spare can compete against huge funds and multinationals with billions at their disposal, and the political and insider clout they carry with them.

Its a bit like saying, I have managed to build my own light aircraft and am flying it(and good for you for being so resourceful). BUT there is no way you can compete with the new A380 airbus.

I am not saying that the Gann method is not good,nor am I saying that charting various possibilities is a bad thing, its just plain wrong when people start to blindly rely on them. Many things have changed in the world since Gann was around.The powers that exist out there are constantly manipulating so many factors, that drawing a few charts just doesn't cut it. In fact, I believe it is part of their manipulation tactic. How many times have I seen a chart that clearly points down(or up) only to suddenly do the opposite because some fund has poured millions into, or taken out of a particular stock. The Psychology of markets is a vital factor in determining where things are likely to go.

Thats why I rely on the fundamentals and keep a very close eye on what the market leaders are doing!