Structure is positive!

[ivanboesky]

Hilarious, yes!! But then there is a message behind it. PG just uses jargon... and a lot of it. There are other technical analysts who give a lot of reasoning behind their recommendations/ advice.

Btw, who can explain what the "structure" is? Is it that the price is above the moving averages, and hasnt broken it, or the price has taken support from it in the past? Anyone? Andy, what did you figure out?

 

[sh50]

Jokes apart, he could be meaning "Bullish bias" which Technical analysts are fond of saying. Only independent traders who are good and succesful and have acquired some expertise can point all this out. Otherwise they can talk anythiing and get away with it- like politicians they have no transparency or accountability. Who knows how many have a succesful trading track record and there is no association or body like the CA association where code of conduct, benchmarks etc can be defined. If something like that were that to fructify, that would be a "positive structure" indeed. Till that time laisez faire-free for all.

 

[vikasdewan]

Hey Ivan............this thread's turning out to be "The Analysis of the Analyst " , but I guess, good old PG deserves it.

I recollect the first time I heard our man go " Structure is positive " and I thought to myself-- like the stochastics,the moving averages,MACD etc etc , theres got to be another indicator called "Structure" among them all.........alas, the only guy who's got a patent on this indicator(?) is Optimistic ole PG.

 

[sh50]

Well Mr vikasdewan there was a thread posted six months ago by the name" Who analyses the analyst".

http://www.traderji.com/showthread.php?t=659&highlight=analyses+analyst

 

[jaideep]

C'mon guys, why don't you give Ol' Gaba a break,
Seems you don't like his mug or maybe his bald-headed pate;
Just chew on what I'm gonna tell all you critical souls out there,
He's just another TA scoring around 2/10, that's not rare.

 

[manugoyal]

Talking of analysts, I have heard that Maria Bartiromo is now a star anchor in CNBC (US). I remember her for bungling it up during the go-go days of 1999 - 2000. Was it so long back...
I can imagine that the quality of CNBC broadcasting is not much different in different countries.

 

[jaideep]

On a more serious note & being fair to Mr. Gaba, he's just another TA like so many others. If CNBC gets him on board their live sessioins, he must be worth his salt at least as much as the other self-proclaimed TAs are. Speaking for myself, I refer his daily view on the market before trading for the day. If not for anything else, at least for just another opinion. It does'nt hurt me the least bit to hear someone saying what one wants to say; and for God's sake it's free. AND, don't forget that he's an MSTA(London) to boot. I've heard so much about MSTAs even in this august forum, perhaps enough to place him on a pedestal. Then what's all the fuss about; tell me who's the wizard scoring 10/10 & I'll eat my hat. My view is to take everyone, everything & everybody with just that proverbial pinch of salt & fend for myself in this ocean of TA et al.

 

[sh50]

Nice to get you so poetic after a long time, Jaideep:-

Your poetry though fluid has a more "positive structure"
To hell with Gaba's analytical lecture
Their analysis is someitmes as obsolete as an impractical ancient scripture
If not causing a financial fracture
They can always puncture
You may perhaps get a better return by investing in a debenture

As for things like MSTA
Door se karo Technical analysts ko namaste
Kyon unke chakkaro me ho faste
Agar koi monitoring agency hoti, to sirf hum-tum nahin sabhi unpe haste

Jokes apart, I feel very strongly about the last line. Their must be a grading for analysts to see who is in form, who is out of form and whether they are in form at all. A couple of weeks ago, the branch manager of head office of a leading corporate broker was using Elliot wave to explain in great detail with great confidence about how bearish the mkt was going to get and just look at the market now. This feedback he got from their head office who has one of the best names in the industry.

Its like hindi movies- you never know which one will run; they may as well be astrologers. For all you know the mkt may turn bearish in a week and that guy may have the last laugh. We have had plenty in this post.

 

[ivanboesky]

Very true. The same should go for fundamental analysts too. Ashu Dutt (ex CNBC) had started an e-journal. The site is called www.greedfearjournal.com. He would track the reccos of fundamental analysts and was it a sight to see!!
Taking about recommendations, there was this fundamental guy from a broking firm. His only job, it seems to me, is to appear on CNBC. He gave a sell call on Dr. Reddy with a target of Rs. 450 the day of its results. It closed up that day and is only going up further...
What to do?? They are like that only!!

 

[RajK]

In my many years in the Markets (30+) as a professional I have come to realize two points about TA:

1) Most people learn TA to become professional traders/investors.

2) The best TA are busy trading/investing for a living and you DO NOT bother to come on TV. However unsuccessful traders end up on TV in order to make a living for them selves from the general public or amatuer investors (or what the professional traders call suckers) who follow them.

CMT or MSTA do not make you a better trader or investor. There so called TAGS are given to people to certify that they have read some books on TA an they are proficient in TA. That does not mean they are excellent traders.

If a TA is good at making money trading the markets then why come on CNBC every trading day talking about so caled structures, etc, etc. ( probably to make a living by selling yourself on TV)

Come on fellows WAKE UP AND SMELL THE COFFEE!

I have met many so called GURUS in my years of service in this industry (both here and overseas) and almost all of them did not have a track record to prove their worthyness. The BEST Traders/Investors are reclusive and keep to themselves!