And this, from his weekly subscriber-only missive this morning, is one of the reasons why:
“…I only value charts as a tool toward understanding probabilities. I believe that markets can turn on a dime, with no chart having foreseen it. Chartists will quickly adjust and resume extrapolating again after the event, but all too often they do not see the event. That is why some people, including myself in some cases, dislike chartists.”
Technical analyst Gary Tanashian and I have hung out in a virtual cyber way together for something like eight years and counting now. We disagree on things, we agree on many others, but one thing he’s taught me above all else is to have respect for good chart work. These days I see the difference between the rote, low entry barrier shtick churned out by the majority and the smart stuff, where brain is applied to squiggly lines. Gary’s up there with the very best.
His free-access blog (which is full of good stuff on its own) is right here. I don’t get commission or money or anything from recommending his work to you, I don’t even pre-warn him (e.g. above was reproduced without permission…bite me Gary. The only arrangement he and I have is that we share each other’s paid subscription weekly report on a quid-pro-quo basis and in that way, I get to read NFTRH for free every weekend. But I reco his stuff because I want more people to get smart about the market, no more no less.