DislikedTechno,
"What you guys are arguing can be said for chart patterns too. head and shoulders, rounded bottom, pennants, etc. "
Right on the money. Equally as funny is when someone starts getting fascinated with 'trading naked'. As if it was more honorable or something. Give me a break. Everyone has their set of indicators - whatever they may be, and these indicators have a 50/50 chance of being right. A book called "Fooled by Randomness" discusses the idea of how we mere mortals trick our selves into thinking that it's our study of the markets that generates our profit. Not so. The odds of seeing the future of the next market swing is always 50/50 and can never be 80% or 98%. Regardless of what indicators you may be using.Ignored