( ummm maybe you're just yanking my chain, but in this context OT means "Off Topic", not "Over Time" )
I do not assume that you live in the US ( you post with an accent ). In fact, if you ARE on the AIU side of the house, all the more reason for you to know 9th floor Jay, but it's not important. Just making chit chat.
good night :)
Either that or it was a typo
In regards to OT - like any of us get OT - plus you guys always make the assumption that everyone lives in the US. Am I working early or late or is it a public holiday where I am?
--Same thing with actuaries - sorry Jay--
so can I assume that you are acquainted with an actuary named Jay... perhaps a fellow on the 9th floor ?
( and I'm still working on a response to your IT post from the week before last :)))
TA does not predict the future. TA is a picture of what has happened in the past and probabilities applied to predict an outcome. Think of it as applying confidence intervals to actuarial analysis. You can predict an outcome based on the past with a high degree of certainty. This is how it works. The beauty of TA is that you are looking at known past events that are true and fully disclosed. You can't say that about fundamental analysis. The sad truth is that people lie, cheat, steal, shade the truth, say things like "to the best of my knowledge", "nothing material has been withheld" etc.
Example: based on the past few years trading TA would have told you not go long AIG. This would have saved you money. Fundamentals would have said that nothing has changed and things are still increasing, albeit at a decreasing rate, and people may have gone long. They would be losing money now. That is a bad thing. TA can help a fundie by at least telling them when to enter for a lower risk, higher probability entry point.
Don't discard TA simply because it doesn't work in your favor right now. It will turn around for AIG at some point in time and tell people to go long. All things change in time.
How about a ouija board? Do you use one of those? Do you consult the oracle at Delphi? Horoscopes can also be useful.
Hey, here's a link for you - www.hankfrenology.com. It's a site where you can download the bumps on MRG's head. Those are powerful analytical tools!
don't sell technical analysis short...are you making $$$ or NOT??? figure it out...the bubble is over, and rational valuations are right around the corner...Elliot Wave theory suggests S&P 500 to 330! that's right, 330! that puts aig at $30...stick around!