Technical Market Indicators
|Disclaimers--What Our Lawyers Make Us Say
This free website explores general information regarding experimental market research methods. It does not recommend any transactions in any securities or render personalized investment advice for compensation. It does not engage in the business of advising others, either directly or indirectly, as to the value of securities or as to the advisability of investing in, purchasing or selling securities. It does not issue or promulgate analyses or reports concerning securities as part of a regular business. It does not provide any services for compensation. It does not offer investment advice. Its contents are not based on the specific investment situation of any person. It is not engaged in any business. It does not issue analyses or reports on a regular basis as part of any business. It does not provide investment advisory services to others in an investment advisory, financial planning, investment management, legal, accounting, business, professional, or any other kind of practice.
These documents are provided for entertainment purposes only. The information contained herein represents temporary, changing views and subjective impressions and opinions regarding the inherently uncertain and unpredictable issues discussed. The reader must not assume that these contents are accurate, complete, timely, or up to date. Market conditions change rapidly and unpredictably. Nothing herein should be interpreted as any kind of offer, solicitation, commitment, promise, warranty, or guarantee whatsoever relating to any of the contents of these pages. INFORMATION PROVIDED IN THIS DOCUMENT IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND FREEDOM FROM INFRINGEMENT. The user assumes the entire risk of any use of these documents whatsoever.
The contents of these pages are not represented to provide any expert professional advice or services whatsoever. If expert assistance is required, the services of a competent professional person should be sought. This statement is in accordance with a Declaration of Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers.
According to CFTC Rule 4.41, hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under- or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.
The information and data herein are based on sources available to the public. No representation is made that this information is reliable, accurate, complete or current. No representation is made that any returns shown can be achieved. No representation is made that any regulatory authority has passed on the merits, adequacy or accuracy of this information. The information herein is not a solicitation, offer, or advice to trade, buy, sell or hold any indicator, system, model, signal, strategy, security, contract or product mentioned. Margin requirements, tax considerations, commissions, and other transaction costs are not included in the information herein; these factors are highly variable and significantly affect the economic consequences of the trading strategies discussed. Therefore, before trading investors must carefully consider these variables in light of their own specific circumstances. The trading strategies, securities and products discussed are not suitable for non-professional traders and investors. Each investor is responsible for deciding whether trading securities is suitable for him after carefully considering his own particular investment objectives, financial condition, risk profile, trading costs and other circumstances, using such independent legal, tax, financial and other advisors as he believes necessary to make informed and appropriate decisions. Before engaging in trading activities, each investor is responsible for understanding the nature and extent of his rights and obligations and the substantial inherent risk and other considerations involved in trading securities. This brief statement cannot and does not mention all of the considerations involved in trading. Rather, each investor is responsible for diligently researching and judging for himself all the many factors that can significantly impact his financial position.
U.S. federal courts have ruled that investors are responsible for their own profits and losses. On July 2, 2003, Judge Milton Pollack dismissed a class action claim by investors who argued that a financial analyst employed by a major brokerage firm caused their substantial losses.
"�plaintiffs would have this Court conclude that the federal securities laws were meant to underwrite, subsidize, and encourage their rash speculation in joining a freewheeling casino that lured thousands obsessed with the fantasy of Olympian riches, but which delivered such riches to only a scant handful of lucky winners. Those few lucky winners, who are not before the Court, now hold the monies that the unlucky plaintiffs have lost�fair and square�and they will never return those monies to plaintiffs. Had plaintiffs themselves won the game instead of losing, they would have owed not a single penny of their winnings to those they left to hold the bag (or to defendants)."
The information on this web site is designed for professional traders and investors only. The purpose of this publication is to stimulate and entertain sophisticated market professionals with analysis, judgments, and opinions based on highly controversial and unproven technical analysis methods designed to attempt to forecast the inherently unknowable future course of various financial markets. Nothing in this web site must ever be construed as a solicitation or recommendation to buy or sell any security or financial instrument, an act that involves risks of substantial financial loss. Trading and investing are not suitable for the average person or for most people. Certain studies suggest that most people lose money in the markets. Trading and investing are best left to professionals who are well equipped by intelligence, education, and experience to judge for themselves the numerous uncertainties involved. Judging probabilities of future market movements is inherently uncertain and extremely risky. No form of analysis has been consistently successful. Even traders and investors who may have been successful for many years have lost most or all of their capital due to large adverse market movements that they could not accurately forecast in advance. Trading and investing involves substantial risk of loss of most or even all of the capital put into the market. Using leverage (margin debt, futures, options, etc.) it is actually possible to lose more than 100% of your capital and wind up in debt to your brokerage firm. It is theoretically possible that future risk could be substantially greater than any past observed risk. Unforeseeable influences could cause markets to do things they never have done before. Any form of analysis, forecasting, or speculation could be subject to surprising and great shocks unknowable by any means in advance. Outcomes that never occurred before theoretically could happen at any time. Markets could experience extreme volatility never seen before. The logic, theories, and analysis of past patterns used to judge future market probabilities frequently prove to be wrong. There can be no assurance that methods that may have seemed to be effective in the past will remain effective in the future. The very data on which judgments are based are subject to error and later revision after the fact when it is too late for effective action.
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