Technical Analysis Quotes

In the eighteenth century, philosophers considered the whole of human knowledge, including science, to be their field and discussed questions such as: Did the universe have a beginning? However, in the nineteenth and twentieth centuries, science became too technical and mathematical for the philosophers, or anyone else except a few specialists. Philosophers reduced the scope of their inquiries so much that Wittgenstein, the most famous philosopher of this century, said, "The sole remaining task for philosophy is the analysis of language." What a comedown from the great tradition of philosophy from Aristotle to Kant!

a greater probability of one thing happening over another. In a sense, technical analysis allows you

the essence of technical analysis is to identify markets that have a temporary imbalance of buying and selling pressure, and to limit our trading to those environments.

Of course, in men’s sports no one ever talks about beauty, or grace, or the body. Men may profess their “love” of sports, but that love must always be cast and enacted in the symbology of war: elimination vs. advance, hierarchy of rank and standing, obsessive stats and technical analysis, tribal and/or nationalist fervor, uniforms, mass noise, banners, chest-thumping, face-painting, etc.

Investors look at economic fundamentals; traders look at each other; ‘quants’ look at the data. Dealing on the basis of historic price series was once described as technical analysis, or chartism (and there are chartists still). These savants identify visual patterns in charts of price data, often favouring them with arresting names such as ‘head and shoulders’ or ‘double bottoms’. This is pseudo-scientific bunk, the financial equivalent of astrology. But more sophisticated quantitative methods have since proved profitable for some since the 1970s’ creation of derivative markets and the related mathematics. Profitable

They don't try to trade 'reality', they try to trade other people's perceptions of reality. If a market is dominated by enough technical traders, it could lapse into a 'postmodern' state, with traders trading perceptions of perceptions of reality.

A stock screening feature is then used to find the leading stocks within the leading sectors.

Our analysis is clear: in today’s fast-moving and competitive world, the best thing you can do for your products, your company, and your people is institute a culture of experimentation and learning, and invest in the technical and management capabilities that enable it.

Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.

You don’t make money by trading, you make it by sitting.” It takes patience to wait for the trade to develop, for the opportunity to present itself. Let the market come to you, instead of chasing the market. Chart patterns are very accurate. They have proven their accuracy and predictability time and time again, but you have to wait for them to develop.

Why does the universe go to all the bother of existing? Is the unified theory so compelling that it brings about its own existence? Or does it need a creator, and, if so, does he have any other effect on the universe? And who created him? Up to now, most scientists have been too occupied with the development of new theories that describe what the universe is to ask the question why. On the other hand, the people whose business it is to ask why, the philosophers, have not been able to keep up with the advance of scientific theories. In the eighteenth century, philosophers considered the whole of human knowledge, including science, to be their field and discussed questions such as: Did the universe have a beginning? However, in the nineteenth and twentieth centuries, science became too technical and mathematical for the philosophers, or anyone else except a few specialists. Philosophers reduced the scope of their inquiries so much that Wittgenstein, the most famous philosopher of this century, said, 'The sole remaining task for philosophy is the analysis of language.' What a comedown from the great tradition of philosophy from Aristotle to Kant! However, if we do discover a complete theory, it should in time be understandable in broad principle by everyone, not just a few scientists. Then we shall all, philosophers, scientists, and just ordinary people, be able to take part in the discussion of the question of why it is that we and the universe exist. If we find the answer to that, it would be the ultimate triumph of human reason--for then we would know the mind of God.

Therefore it is not arrogance or narrow-mindedness that leads the economist to discuss these things from the standpoint of economics. No one, who is not able to form an independent opinion about the admittedly difficult and highly technical problem of calculation in the socialist economy, should take sides in the question of socialism versus capitalism. No one should speak about interventionism who has not examined the economic consequences of interventionism. An end should be put to the common practice of discussing these problems from the standpoint of the prevailing errors, fallacies, and prejudices. It might be more entertaining to avoid the real issues and merely to use popular catchwords and emotional slogans. But politics is a serious matter. Those who do not want to think its problems through to the end should keep away from it.

trend line penetrations often prove to be false signals.

the fact that the actual inequalities of power exceed what is made necessary by technical causes, can only be explained in terms of individual psychology and physiology.

Buying stocks when the broader overall market is trending up is a good idea, for long positions. The trend will provide a tailwind for the stock prices to move higher.

For international readers, the FREE tools presented in this book are applicable for trading any stock market in the world.

The tools and resources used in this book are FREE and readily available on the internet. Details on how to access these tools are shown.

internal trend lines are far more useful than conventional trend lines in defining potential support and resistance areas.

It should be stressed here again, however, that basic trend analysis is still the overriding consideration.

Cricket is an art. Like all arts it has a technical foundation. To enjoy it does not require technical knowledge, but analysis that is not technically based is mere impressionism.

As with all technical indicators, signals on weekly charts are always more important than those on daily charts. The best way to combine them is to use weekly signals to determine market direction and the daily signals to fine-tune entry and exit points.

The Interborough issues are an example of a rather special group of situations in which analysis may reach more definite conclusions respecting intrinsic value than in the ordinary case. These situations may involve a liquidation or give rise to technical operations known as “arbitrage” or “hedging.

There is a mistake technical and scientific people make. We think that if we have made a clever and thoughtful argument, based on data and smart analysis, then people will change their minds. This isn't true. If yoy want to change people's behavior, you need to touch their hearts, not just win the arguments. We call this the Oprah Winfrey rule.

There have been ample opportunities since 1945 to show that material superiority in war is not enough if the will to fight is lacking. In Algeria, Vietnam and Afghanistan the balance of economic and military strength lay overwhelmingly on the side of France, the United States, and the Soviet Union, but the will to win was slowly eroded. Troops became demoralised and brutalised. Even a political solution was abandoned. In all three cases the greater power withdrew. The Second World War was an altogether different conflict, but the will to win was every bit as important - indeed it was more so. The contest was popularly perceived to be about issues of life and death of whole communities rather than for their fighting forces alone. They were issues, wrote one American observer in 1939, 'worth dying for'. If, he continued, 'the will-to-destruction triumphs, our resolution to preserve civilisation must become more implacable...our courage must mount'. Words like 'will' and 'courage' are difficult for historians to use as instruments of cold analysis. They cannot be quantified; they are elusive of definition; they are products of a moral language that is regarded sceptically today, even tainted by its association with fascist rhetoric. German and Japanese leaders believed that the spiritual strength of their soldiers and workers in some indefinable way compensate for their technical inferiority. When asked after the war why Japan lost, one senior naval officer replied that the Japanese 'were short on spirit, the military spirit was weak...' and put this explanation ahead of any material cause. Within Germany, belief that spiritual strength or willpower was worth more than generous supplies of weapons was not confined to Hitler by any means, though it was certainly a central element in the way he looked at the world. The irony was that Hitler's ambition to impose his will on others did perhaps more than anything to ensure that his enemies' will to win burned brighter still. The Allies were united by nothing so much as a fundamental desire to smash Hitlerism and Japanese militarism and to use any weapon to achieve it. The primal drive for victory at all costs nourished Allied fighting power and assuaged the thirst for vengeance. They fought not only because the sum of their resources added up to victory, but because they wanted to win and were certain that their cause was just. The Allies won the Second World War because they turned their economic strength into effective fighting power, and turned the moral energies of their people into an effective will to win. The mobilisation of national resources in this broad sense never worked perfectly, but worked well enough to prevail. Materially rich, but divided, demoralised, and poorly led, the Allied coalition would have lost the war, however exaggerated Axis ambitions, however flawed their moral outlook. The war made exceptional demands on the Allied peoples. Half a century later the level of cruelty, destruction and sacrifice that it engendered is hard to comprehend, let alone recapture. Fifty years of security and prosperity have opened up a gulf between our own age and the age of crisis and violence that propelled the world into war. Though from today's perspective Allied victory might seem somehow inevitable, the conflict was poised on a knife-edge in the middle years of the war. This period must surely rank as the most significant turning point in the history of the modern age.

But within the framework of an ideology such pluralism cannot be so enlarged as to incorporate into the political system and submit to political arbitration radical structural conflicts between family life and economic development, religión and culture, personality and the need for governmental administration, or between the expected motives of agents and the methods of recruiting. In such States, political pluralism remains on a technical and instrumental level; the problem-solving capacity of the political system is built on the premise that, in the last analysis, all critical problems can be reduced to economic problems. For this reason (and because of the political ideologization of all publíc life) limits are set to the level of complexity such a society can reach.

A government of the rich prevailed in all the free cities of the Middle Ages, and survived in Venice until Napoleon extinguished it. Such governments have been, on the whole, more enlightened and astute than any others known to history. Venice, in particular, steered a prudent course through centuries of complicated intrigue, and had a diplomatic service far more efficient than that of any other State. Money made in commerce is made by cleverness which is not dictatorial, and this characteristic is displayed by governments composed of successful merchants. The modern industrial magnate is a totally different type, partly because he deals largely with the technical manipulation of materials, partly because his dealings with human beings are preponderantly with an army of employees rather than with equals who must be persuaded, not coerced.

the broad rule is that it is easier now than in former days to exert power at a distance from the centre. The effect of this is to increase the intensity of competition between States, and to make victory more absolute, since the resulting increase of size need not impair efficiency. A World State is now a technical possibility, and might be established by a victor in some really serious world-war, or, more probably, by the most powerful of the neutrals.

Beauty is not the goal of competitive sports, but high-level sports are a prime venue for the expression of human beauty. The relation is roughly that of courage to war. The human beauty we’re talking about here is beauty of a particular type; it might be called kinetic beauty. Its power and appeal are universal. It has nothing to do with sex or cultural norms. What it seems to have to do with, really, is human beings’ reconciliation with the fact of having a body. Of course, in men’s sports no one ever talks about beauty or grace or the body. Men may profess their “love” of sports, but that love must always be cast and enacted in the symbology of war: elimination vs. advance, hierarchy of rank and standing, obsessive statistics, technical analysis, tribal and/or nationalist fervor, uniforms, mass noise, banners, chest-thumping, face-painting, etc. For reasons that are not well understood, war’s codes are safer for most of us than love’s." - from "Federer Both Flesh and Not

As for Resistances! They are almost an item of dogma in the current secular religion. Persons who would never dream of going to the time, expense, or trouble of a full analysis will tell you complacently that they have “a resistance” to this or that, and feel that they have done all and more than can be asked of them by admitting their handicap. Remarkable cures of resistances, however, have been observed in those who took solemnly the advice to replace that word with our ancestors’ outmoded synonym for the same thing: “bone-laziness.” It is not quite so much fun, nor so flattering, to be foolishly lazy as it is to be the victim of a technical term, but many are crippled for knowing an impressive word who would have had no such trouble if they had lived in a simpler and less self-indulgent society. Those who are genuinely, deeply, and unhappily in the grip of a neurosis should turn at once to one of the well known therapies. Unless one is willing to do so, it should be made a matter of social disapproval to refer technically to such difficulties.

Trends consist of three specific phases. Every trend moves through three phases. The accumulation phase is the period when investors with exceptional information actively buy (in a bullish trend) or sell (in a bearish trend). The public participation phase occurs when, due to price movement caused by activity in the accumulation phase, the general public joins in the trend. Finally, the distribution phase occurs when speculators enter the market and over-buy or over-sell, and at this point the observant investor begins to transact in the opposite direction.

Eliot's understanding of poetic epistemology is a version of Bradley's theory, outlined in our second chapter, that knowing involves immediate, relational, and transcendent stages or levels. The poetic mind, like the ordinary mind, has at least two types of experience: The first consists largely of feeling (falling in love, smelling the cooking, hearing the noise of the typewriter), the second largely of thought (reading Spinoza). The first type of experience is sensuous, and it is also to a great extent monistic or immediate, for it does not require mediation through the mind; it exists before intellectual analysis, before the falling apart of experience into experiencer and experienced. The second type of experience, in contrast, is intellectual (to be known at all, it must be mediated through the mind) and sharply dualistic, in that it involves a breaking down of experience into subject and object. In the mind of the ordinary person, these two types of experience are and remain disparate. In the mind of the poet, these disparate experiences are somehow transcended and amalgamated into a new whole, a whole beyond and yet including subject and object, mind and matter. Eliot illustrates his explanation of poetic epistemology by saying that John Donne did not simply feel his feelings and think his thoughts; he felt his thoughts and thought his feelings. He was able to "feel his thought as immediately as the odour of a rose." Immediately" in this famous simile is a technical term in philosophy, used with precision; it means unmediated through mind, unshattered into subject and object. Falling in love and reading Spinoza typify Eliot's own experiences in the years in which he was writing The Waste Land. These were the exciting and exhausting years in which he met Vivien Haigh-Wood and consummated a disastrous marriage, the years in which he was deeply involved in reading F. H. Bradley, the years in which he was torn between the professions of philosophy and poetry and in which he was in close and frequent contact with such brilliant and stimulating figures as Bertrand Russell and Ezra Pound, the years of the break from his family and homeland, the years in which in every area of his life he seemed to be between broken worlds. The experiences of these years constitute the material of The Waste Land. The relevant biographical details need not be reviewed here, for they are presented in the introduction to The Waste Land Facsimile. For our purposes, it is only necessary to acknowledge what Eliot himself acknowledged: the material of art is always actual life. At the same time, it should also be noted that material in itself is not art. As Eliot argued in his review of Ulysses, "in creation you are responsible for what you can do with material which you must simply accept." For Eliot, the given material included relations with and observations of women, in particular, of his bright but seemingly incurably ill wife Vivien(ne).

Historical accounts of philosophy deal with both the chronological development of ideas over time and the timeliness of those ideas in response to the specific social conditions and challenges of their eras. The chronological perspective follows a particular line of thought as it develops through the years, emphasizing the progressive aspect of philosophizing. New ideas build on former ideas by expanding, modifying, or even rejecting them. In this way schools of thought emerge and the chronological perspective focuses on a community of thinkers who may agree or disagree, but who always share common ground: a cluster of problems, technical vocabulary, forms of analysis, and points of departure.

During an individual's immersion in a domain, the locus of flow experiences shifts: what was once too challenging becomes attainable and even pleasurable, while what has long since become attainable no longer proves engaging. Thus, the journeyman musical performer gains flow from the accurate performance of familiar pieces in the repertoire; the youthful master wishes to tackle the most challenging pieces, ones most difficult to execute in a technical sense; the seasoned master may develop highly personal interpretations of familiar pieces, or, alternatively, return to those deceptively simple pieces that may actually prove difficult to execute convincingly and powerfully. Such an analysis helps explain why creative individuals continue to engage in the area of their expertise despite its frustrations, and why so many of them continue to raise the ante, posing ever-greater challenges for themselves, even at the risk of sacrificing the customary rewards.

Even if there is only one possible unified theory, it is just a set of rules and equations. What is it that breathes fire into the equations and makes a universe for them to describe? The usual approach of science of constructing a mathematical model cannot answer the questions of why there should be a universe for the model to describe. Why does the universe go to all the bother of existing? Is the unified theory so compelling that it brings about its own existence? Or does it need a creator, and, if so, does he have any other effect on the universe? And who created him? Up to now, most scientists have been too occupied with the development of new theories that describe what the universe is to ask the question why. On the other hand, the people whose business it is to ask why, the philosophers, have not been able to keep up with the advance of scientific theories. In the eighteenth century, philosophers considered the whole of human knowledge, including science, to be their field and discussed questions such as: did the universe have a beginning? However, in the nineteenth and twentieth centuries, science became too technical and mathematical for the philosophers, or anyone else except a few specialists. Philosophers reduced the scope of their inquiries so much that Wittgenstein, the most famous philosopher of this century, said, “The sole remaining task for philosophy is the analysis of language.” What a comedown from the great tradition of philosophy from Aristotle to Kant! However, if we do discover a complete theory, it should in time be understandable in broad principle by everyone, not just a few scientists. Then we shall all, philosophers, scientists, and just ordinary people, be able to take part in the discussion of the question of why it is that we and the universe exist. If we find the answer to that, it would be the ultimate triumph of human reason – for then we would know the mind of God.

There is a crisis in contemporary mathematics, and anybody who has not noticed it is being willfully blind. The crisis is due to our neglect of philosophical issues. The courses in the foundations of mathematics as taught in our universities emphasize the mathematical analysis of formal systems, at the expense of philosophical substance. Thus it is the mathematical profession that tends to equate philosophy with the study of formal systems, which require knowledge of technical theorems for comprehension. They do not want to learn yet another branch of mathematics and therefore leave the philosophy to the experts. As a consequence, we prove these theorems and we do not know what they mean. The job of proving theorems is not impeded by inconvenient inquires into their meaning or purpose. In order to resolve one aspect of this crisis, emphasis will have to be transferred from the mechanics of the assembly line which keeps grinding out the theorems, to an examination of what is being proved.

Jacques Ellul has a word for this instrumentalizing attitude: technique. His analysis helps us to appreciate just how deep and wide the n-shaped dynamic runs in our society. He defines technique as “the totality of methods rationally arrived at and having absolute efficiency in every field of human activity.”14 It is “never anything but a collection of means and the search for the most efficient means” in any given situation,15 with its origin in Cain’s city-building and Lamech’s polygamy.16 Up until the eighteenth century, Ellul argues, technique was largely absent from all areas of society apart from the mechanical, but in the industrial revolution, technical progress suddenly exploded and began to reconfigure every area of life, from industrial production through politics to the family. The result is that today technique is not a thing out there in the world; it is how we do everything we do in the world: “The Third World, Europe, militarization, etc., are all political matters. Inflation, exchange rates, standards of living, and growth are all economic matters. Yet technique has a part in all of them. It is like a key, like a substance underlying all problems and situations. It is ultimately the decisive factor.

Due to the various pragmatic obstacles, it is rare for a mission-critical analysis to be done in the “fully Bayesian” manner, i.e., without the use of tried-and-true frequentist tools at the various stages. Philosophy and beauty aside, the reliability and efficiency of the underlying computations required by the Bayesian framework are the main practical issues. A central technical issue at the heart of this is that it is much easier to do optimization (reliably and efficiently) in high dimensions than it is to do integration in high dimensions. Thus the workhorse machine learning methods, while there are ongoing efforts to adapt them to Bayesian framework, are almost all rooted in frequentist methods. A work-around is to perform MAP inference, which is optimization based. Most users of Bayesian estimation methods, in practice, are likely to use a mix of Bayesian and frequentist tools. The reverse is also true—frequentist data analysts, even if they stay formally within the frequentist framework, are often influenced by “Bayesian thinking,” referring to “priors” and “posteriors.” The most advisable position is probably to know both paradigms well, in order to make informed judgments about which tools to apply in which situations.

As social phenomena, languages are tied up in world of unequal power relations, gaining or losing status not based on technical linguistic grounds but on social judgement, biases, and stereotypes that are based on the status of their speakers. As such, we argue that white America's love-hate relationship with black modes of communication can only be interpreted within a framework that considers language a primary site of cultural contestation. It should be clear by now that it's about more than a mothafucka, right? Our analysis of Black Language forms that the dominant culture considers inflammatory, controversial, or stigmatized allows us to make several observations. First, building off what anthropologist and linguist Arthur Spears noted in his discussion of uncensored speech, Black verbal culture, like all cultures is "a complex network of predispositions, values, behaviors, expectations and routines." Language practices, in their varying sociocultural contexts, can only be understood if read within the full range of the community's speech activities, and that requires rigorous ethnographic search and analysis. Second the community's beliefs and ideas about language- it's language ideologies- should be the primary point of departure for investigation and interpretation.

Don’t ever talk about the market as if it’s your pal – nobody ever understands the market. The pain of a loss is worse than the pleasure of a profit. Don’t ever take a loss lightly. If you get worried and sleep badly, you’re in trouble already. Forget about the trendy shares of the day. Don’t invest further in a losing situation. Liquidate your position. Even for speculation based on technical analysis I don’t have much time.

At another level of analysis, economism is characterized by the fact that it tends to identify productive forces with the material means of production, thus denying that the principal productive force consists of the producers themselves: consequently, economism ascribes the major role in the building of socialism not to the initiative of the working people but to the accumulation of new means of production and technical knowledge.

Technical Analysis, by Charlie Kirkpatrick and Julie Dahlquist.

Organizer—Using work breakdown, estimating, and scheduling techniques, determines the complete work effort for the project, the proper sequence of the work activities, when the work will be accomplished, who will do the work, and how much the work will cost. • Point Man—Serves as the central point-of-contact for all oral and written project communications. • Quartermaster—Ensures the project has the resources, materials, and facilities its needs when it needs it. • Facilitator—Ensures that stakeholders and team members who come from different perspectives understand each other and work together to accomplish the project goals. • Persuader—Gains agreement from the stakeholders on project definition, success criteria, and approach; manages stakeholder expectations throughout the project while managing the competing demands of time, cost, and quality; and gains agreement on resource decisions and issue resolution action steps. • Problem Solver—Utilizes root-cause analysis process experience, prior project experiences, and technical knowledge to resolve unforeseen technical issues and to take any necessary corrective actions. • Umbrella—Works to shield the project team from the politics and “noise” surrounding the project, so they can stay focused and productive. • Coach—Determines and communicates the role each team member plays and the importance of that role to the project success, finds ways to motivate each team member, looks for ways to improve the skills of each team member, and provides constructive and timely feedback on individual performances. • Bulldog—Performs the follow-up to ensure that commitments are maintained, issues are resolved, and action items are completed. • Librarian—Manages all information, communications, and documentation involved in the project.

FIGURE 3.16 Trading Momentum in GS, December 2009

Whether you’re currently a marketing executive or a college grad about to enter the field—the first growth hackers have pioneered a new way. Some of their strategies are incredibly technical and complex. The strategies also change constantly; in fact, occasionally it might work only one time. This book is short because it sticks with the timeless parts. I also won’t weigh you down with heavy concepts like “cohort analysis” and “viral coefficients.”* Instead, we will focus on the mindset—it’s far and away the most important part. I start and end with my own experiences in this book, not because I am anyone special but because I think they illustrate a microcosm of the industry itself. The old way—where product development and

The averages reflect everything that can be known about a price. The markets exhibit three types of price movement. Primary movements have three phases. It takes both the DJIA and the DJTA to confirm a trend. Volume must increase in the direction of the trend to confirm it. A trend continues until there is a clear reversal.

Distinctiveness of This Book The book claims to be distinctive in several ways. First, it presents the breadth of case study research and its scholarly heritage, but also at a detailed and practical level. Other works do not offer as comprehensive a combination. Thus, the earlier versions of this book have been used as a complete portal to the world of case study research. Among its most distinctive features, the book provides a workable technical definition of the case study as a research method and its differentiation from other social science research methods (Chapter 1), an extensive discussion of case study designs (Chapter 2), and a continually expanding presentation of case study analysis techniques (Chapter 5

Figure 3.35 shows examples of nonstandard trend lines: FIGURE 3.35 Nonstandard Trend Lines in XLF A is drawn between lows in a downtrend instead of between highs in a downtrend. B is also drawn between lows in a downtrend. Furthermore, it ignores a large price spike in an effort to fit the line to later data. C is more of a best-fit line drawn through the center of a price area. These may be drawn freehand or via a procedure like linear regression. D is drawn between highs in an uptrend. E raises a critical point about trend lines: They are lines drawn between successive swings in the market. If there are no swings, there should be no trend line. It would be hard to argue that the market was showing any swings at E, at least on this time frame. This trend line may be valid on a lower time frame, but it is nonstandard on this time frame. In general, trend lines are tools to define the relationship between swings, and are a complement to the simple length of swing analysis. As such, one of the requirements for drawing trend lines is that there must actually be swings in the market. We see many cases where markets are flat, and it is possible to draw trend lines that touch the tops or bottoms of many consecutive price bars. With one important exception later in this chapter, these types of trend lines do not tend to be very significant. They are penetrated easily by the smallest motions in the market, and there is no reliable price action after the penetration. Avoid drawing these trend lines in flat markets with no definable swings.

The minds that solved these problems and carried out these designs were obviously minds of the highest order, with a unique combination of theoretic analysis, practical grasp, and imaginative foresight: Imhotep, who built the first stone pyramid at Sakkara, was a minister of state, an architect, an astronomer, and a physician. No narrowly trained specialists or 'experts' these, but men who moved freely over the entire area of existence, like the great artists of the Italian Renaissance. Their prowess and their self-confidence were equal to any occasion: indeed sometimes defied prudence and outstripped the powers of their mighty machines, as later in the embedded Assouan obelisk, weighing 1,168 tons, never finally detached from the solid rock.

different from 3.5. However, it is different from larger values, such as 4.0 (t = 2.89, df = 9, p = .019). Another example of this is provided in the Box 12.2. Finally, note that the one-sample t-test is identical to the paired-samples t-test for testing whether the mean D = 0. Indeed, the one-sample t-test for D = 0 produces the same results (t = 2.43, df = 9, p = .038). In Greater Depth … Box 12.2 Use of the T-Test in Performance Management: An Example Performance benchmarking is an increasingly popular tool in performance management. Public and nonprofit officials compare the performance of their agencies with performance benchmarks and draw lessons from the comparison. Let us say that a city government requires its fire and medical response unit to maintain an average response time of 360 seconds (6 minutes) to emergency requests. The city manager has suspected that the growth in population and demands for the services have slowed down the responses recently. He draws a sample of 10 response times in the most recent month: 230, 450, 378, 430, 270, 470, 390, 300, 470, and 530 seconds, for a sample mean of 392 seconds. He performs a one-sample t-test to compare the mean of this sample with the performance benchmark of 360 seconds. The null hypothesis of this test is that the sample mean is equal to 360 seconds, and the alternate hypothesis is that they are different. The result (t = 1.030, df = 9, p = .330) shows a failure to reject the null hypothesis at the 5 percent level, which means that we don’t have sufficient evidence to say that the average response time is different from the benchmark 360 seconds. We cannot say that current performance of 392 seconds is significantly different from the 360-second benchmark. Perhaps more data (samples) are needed to reach such a conclusion, or perhaps too much variability exists for such a conclusion to be reached. NONPARAMETRIC ALTERNATIVES TO T-TESTS The tests described in the preceding sections have nonparametric alternatives. The chief advantage of these tests is that they do not require continuous variables to be normally distributed. The chief disadvantage is that they are less likely to reject the null hypothesis. A further, minor disadvantage is that these tests do not provide descriptive information about variable means; separate analysis is required for that. Nonparametric alternatives to the independent-samples test are the Mann-Whitney and Wilcoxon tests. The Mann-Whitney and Wilcoxon tests are equivalent and are thus discussed jointly. Both are simplifications of the more general Kruskal-Wallis’ H test, discussed in Chapter 11.19 The Mann-Whitney and Wilcoxon tests assign ranks to the testing variable in the exact manner shown in Table 12.4. The sum of the ranks of each group is computed, shown in the table. Then a test is performed to determine the statistical significance of the difference between the sums, 22.5 and 32.5. Although the Mann-Whitney U and Wilcoxon W test statistics are calculated differently, they both have the same level of statistical significance: p = .295. Technically, this is not a test of different means but of different distributions; the lack of significance implies that groups 1 and 2 can be regarded as coming from the same population.20 Table 12.4 Rankings of

Passage Four: From Functional Manager to Business Manager This leadership passage is often the most satisfying as well as the most challenging of a manager’s career, and it’s mission-critical in organizations. Business mangers usually receive significant autonomy, which people with leadership instincts find liberating. They also are able to see a clear link between their efforts and marketplace results. At the same time, this is a sharp turn; it requires a major shift in skills, time applications, and work values. It’s not simply a matter of people becoming more strategic and cross-functional in their thinking (though it’s important to continue developing the abilities rooted in the previous level). Now they are in charge of integrating functions, whereas before they simply had to understand and work with other functions. But the biggest shift is from looking at plans and proposals functionally (Can we do it technically, professionally, or physically?) to a profit perspective (Will we make any money if we do this?) and to a long-term view (Is the profitability result sustainable?). New business managers must change the way they think in order to be successful. There are probably more new and unfamiliar responsibilities here than at other levels. For people who have been in only one function for their entire career, a business manager position represents unexplored territory; they must suddenly become responsible for many unfamiliar functions and outcomes. Not only do they have to learn to manage different functions, but they also need to become skilled at working with a wider variety of people than ever before; they need to become more sensitive to functional diversity issues and communicating clearly and effectively. Even more difficult is the balancing act between future goals and present needs and making trade-offs between the two. Business managers must meet quarterly profit, market share, product, and people targets, and at the same time plan for goals three to five years into the future. The paradox of balancing short-term and long-term thinking is one that bedevils many managers at this turn—and why one of the requirements here is for thinking time. At this level, managers need to stop doing every second of the day and reserve time for reflection and analysis. When business managers don’t make this turn fully, the leadership pipeline quickly becomes clogged. For example, a common failure at this level is not valuing (or not effectively using) staff functions. Directing and energizing finance, human resources, legal, and other support groups are crucial business manager responsibilities. When managers don’t understand or appreciate the contribution of support staff, these staff people don’t deliver full performance. When the leader of the business demeans or diminishes their roles, staff people deliver halfhearted efforts; they can easily become energy-drainers. Business managers must learn to trust, accept advice, and receive feedback from all functional managers, even though they may never have experienced these functions personally.

Technical analysis involves reviewing actual price and volume action on share price charts to reach conclusions about the likely future direction of the price. In

A usable design starts with careful observations of how the tasks being supported are actually performed, followed by a design process that results in a good fit to the actual ways the tasks get performed. The technical name for this method is task analysis. The name for the entire process is human-centered design (HCD), discussed

One reason why many types of technical analysis don’t work too well is because such methods are often applied indiscriminately. For example, if you see a head-and-shoulders pattern form in what is the market equivalent of a twenty-year-old, the odds are that the market is not likely to die so quickly. However, if you see the same chart formation in the market equivalent of an eighty-year-old, there’s a much better chance of that pattern being an accurate indicator of a price top. Trading the market without knowing what stage it is in is like selling life insurance to twenty-year-olds and eighty-year-olds at the same premium.” — Victor Sperandeo

Technical analysis is quicker and simpler than fundamental analysis. You may master the core principles of technical analysis just by reading some books, while you must study macro- and micro-economics to perform reliable fundamental analyses.

The farmers say ... “What does Wall Street know about farming?” Wall Street knows more than all the farmers put together ever knew, with all that the farmers have forgotten. It employs the ablest of the farmers, and its experts are better even than those of our admirable and little appreciated Department of Agriculture, whose publications Wall Street reads even if the farmer neglects them. –William P. Hamilton, 1925

Since we are the prisoners of what we know, often we are unable even to imagine what we don’t know…Man, given the proper initiative and freedom to

act, has repeatedly found alternatives to ambiguity and doom. – Walter Wriston (Former Chairman of Citicorp)

Here are several rules that worked for me as I grew from a wild amateur into an erratic semiprofessional and finally into a calm professional trader. You may change this list to suit your personality. Decide that you are in the market for the long haul—that is, you want to be a trader even 20 years from now. Learn as much as you can. Read and listen to experts, but keep a degree of healthy skepticism about everything. Ask questions, and do not accept experts at their word. Do not get greedy and rush to trade—take your time to learn. The markets will be there, offering more good opportunities in the months and years ahead. Develop a method for analyzing the market—that is, “If A happens, then B is likely to happen.” Markets have many dimensions—use several analytic methods to confirm trades. Test everything on historical data and then in the markets, using real money. Markets keep changing—you need different tools for trading bull and bear markets and transitional periods as well as a method for telling the difference (see the sections on technical analysis). Develop a money management plan. Your first goal must be long-term survival; your second goal, a steady growth of capital; and your third goal, making high profits. Most traders put the third goal first and are unaware that goals 1 and 2 exist (see Section 9, “Risk Management”). Be aware that a trader is the weakest link in any trading system. Go to a meeting of Alcoholics Anonymous to learn how to avoid losses or develop your own method for cutting out impulsive trades. Winners think, feel, and act differently than losers. You must look within yourself, strip away your illusions, and change your old ways of being, thinking, and acting. Change is hard, but if you want to be a professional trader, you have to work on changing and developing your personality.

of the Method, ensuring their continuous growth pertaining to analysis techniques and resources (see item 3.2 and Chapters 6 and 9) as well as to perfect Daily Routine Management (see Chapter 9). Promote the team's acquisition of technical knowledge (see items 2.2, 10.1, and 10.2). Ensure the establishment and continuous improvement of a recruiting and selection system (standardize the process). Participate in the recruiting and selection of

I once had a foreign exchange trader who worked for me who was an unabashed chartist. He truly believed that all the information you needed was reflected in the past history of a currency. Now it's true there can be less to consider in trading currencies than individual equities, since at least for developed country currencies it's typically not necessary to pore over their financial statements every quarter. And in my experience, currencies do exhibit sustainable trends more reliably than, say, bonds or commodities. Imbalances caused by, for example, interest rate differentials that favor one currency over another (by making it more profitable to invest in the higher-yielding one) can persist for years. Of course, another appeal of charting can be that it provides a convenient excuse to avoid having to analyze financial statements or other fundamental data. Technical analysts take their work seriously and apply themselves to it diligently, but it's also possible for a part-time technician to do his market analysis in ten minutes over coffee and a bagel. This can create the false illusion of being a very efficient worker. The FX trader I mentioned was quite happy to engage in an experiment whereby he did the trades recommended by our in-house market technician. Both shared the same commitment to charts as an under-appreciated path to market success, a belief clearly at odds with the in-house technician's avoidance of trading any actual positions so as to provide empirical proof of his insights with trading profits. When challenged, he invariably countered that managing trading positions would challenge his objectivity, as if holding a losing position would induce him to continue recommending it in spite of the chart's contrary insight. But then, why hold a losing position if it's not what the chart said? I always found debating such tortured logic a brief but entertaining use of time when lining up to get lunch in the trader's cafeteria. To the surprise of my FX trader if not to me, the technical analysis trading account was unprofitable. In explaining the result, my Kool-Aid drinking trader even accepted partial responsibility for at times misinterpreting the very information he was analyzing. It was along the lines of that he ought to have recognized the type of pattern that was evolving but stupidly interpreted the wrong shape. It was almost as if the results were not the result of the faulty religion but of the less than completely faithful practice of one of its adherents. So what use to a profit-oriented trading room is a fully committed chartist who can't be trusted even to follow the charts? At this stage I must confess that we had found ourselves in this position as a last-ditch effort on my part to salvage some profitability out of a trader I'd hired who had to this point been consistently losing money. His own market views expressed in the form of trading positions had been singularly unprofitable, so all that remained was to see how he did with somebody else's views. The experiment wasn't just intended to provide a “live ammunition” record of our in-house technician's market insights, it was my last best effort to prove that my recent hiring decision hadn't been a bad one. Sadly, his failure confirmed my earlier one and I had to fire him. All was not lost though, because he was able to transfer his unsuccessful experience as a proprietary trader into a new business advising clients on their hedge fund investments.

I speak about technical debt quite a bit in this chapter, so I wanted to leave you with a few thoughts on how to measure it. There are, of course, the static code-analysis tools that provide a view of technical debt based on coding issues. I think that is a good starting point. I would add to this the cost to deploy the application (e.g., how many hours of people does it require to deploy into a test or production environment), the cost of regression testing the product (how many hours or people time does it take to validate nothing has broken), and the cost of creating a new environment with the application. If you are more ambitious, you can also look for measures of complexity and dependencies with other applications, but I have not yet seen a good repeatable way for measuring those. The first four I mention are relatively easy to determine and should therefore be the basis for your measure of technical debt.

On the very first pages of his book, Cassirer thus expressly turns against a characteristic assumption of Heidegger’s analysis of the fall in particular. It might be called the assumption of “an overestimation of the civilizing power of philosophy.”42 Anyone who seeks the supposed origins of an age, and particularly the modern age, in philosophy alone, will get to neither the peculiarities of the age nor its philosophy. In his analysis of the Renaissance, Cassirer sees philosophy more as one innovative voice among many, and one with the function of connecting different disciplines. It is precisely this understanding that guides his philosophy of symbolic forms throughout the rapid artistic, scientific, and technical innovations of the 1920s. That decade rightly saw itself as a time of unprecedented, world-changing innovations, above all of a technical kind. The automobile, now mass-produced, began to determine the shape of cities; radio became a global medium of communication in the public sphere, the telephone in the private; cinema became an art form; the first commercial airlines were launched; now not only steamships but soon also zeppelins and even airplanes crossed the oceans, with Charles Lindbergh paving the way. The twenties witnessed the birth of an age of global communication facilitated by and in turn facilitating leaps in technical innovation. It persists into our own time. No individual and no individual discipline could keep interpretative pace. Not even philosophy. Precisely in the German-speaking world it saw itself as being propelled forward

Within days, an independent analysis by German security experts proved decisively that Street View’s cars were extracting unencrypted personal information from homes. Google was forced to concede that it had intercepted and stored “payload data,” personal information grabbed from unencrypted Wi-Fi transmissions. As its apologetic blog post noted, “In some instances entire emails and URLs were captured, as well as passwords.” Technical experts in Canada, France, and the Netherlands discovered that the payload data included names, telephone numbers, credit information, passwords, messages, e-mails, and chat transcripts, as well as records of online dating, pornography, browsing behavior, medical information, location data, photos, and video and audio files. They concluded that such data packets could be stitched together for a detailed profile of an identifiable person.39

When figuring out what to do in the investment world, most professionals use one of two basic approaches: fundamental analysis and technical analysis (many use some combination of the two).

Short-termism can easily lead to the accumulation of technical debt and create disadvantageous path dependence; to counteract it, think about preserving optionality and keep in mind the precautionary principle. Internalize the distinction between irreversible and reversible decisions, and don’t let yourself succumb to analysis paralysis for the latter. Heed Murphy’s law!

Technical analysis is so effective because people always follow the same behavioural patterns and often make their trading decisions collectively based on similar emotions.

Charts really are the ‘footprint of money.

We labour under the illusion that it is the real we lack the most, but actually, reality is at its height. By our technical exploits, we have reached such a degree of reality and objectivity that we might even speak of an excess of reality, which leaves us far more anxious and disconcerted than the lack of it. That we could at least make up for with utopianism and imagination, whereas there is neither compensation for -- nor any alternative to -- the excess of reality. No longer any possible negation or surpassing, since we are already beyond. No longer any negative energy arising from the imbalance between the ideal and the real -- only a hyperreaction, born of the superfusion of the ideal and the real, of the total positivity of the real. However, even though we have gone beyond the real, into virtual accomplishment, we still have the unpleasant impression of having missed the end. The whole of modernity had as its aim the coming of this real world, the liberation of men and of real energies, bent upon an objective transformation of the world, beyond all the illusions with which critical analysis has kept philosophy and practice fed. Today, the world has become real beyond our wildest expectations. The real and the rational have been overturned by their very realization.

a comparative analysis such as Needham’s19 exposes the decisive importance of social structures at the close of the Middle Ages. Not only was the class of craftsmen and potential technical innovators not held in contempt, as it was in ancient Greece, but, like the craftsmen, the intellectuals were, in the main, independent of the authorities. They were free entrepreneurs, craftsmen-inventors in search of patronage, who tended to look for novelty and to exploit all the opportunities it afforded, however dangerous

… no technical skill is worth more than knowing how to select exciting research projects. Regrettably, this vital ability is almost never taught. When I signed on with a research adviser in my first year of graduate school, I was thrilled to be given a problem to work in the physics of the upper atmosphere. That I had no idea what motivated the problem did not prevent me from carrying out an analysis, on a supercomputer of the day, and publishing my first paper at the age of 22… I found myself assimilating technical skills without ever grasping the significance of the problem, without understanding how or whether it was at the cutting edge of science. This way of working became a habit, one that seriously threatened my career… I relied on a senior scientist to tell me what would be an interesting problem to work on; then I would carry out the task… Four years and two postdoctoral positions after earning a PhD—still having little sense of what I wanted to learn as a scientist—I was on the job market.

The main entry criteria for buying a stock in this strategy is when both the Stock Price and the Relative Strength line are both rising (sloping up) at the same time.......” in Chapter 6 of the book “Make Money Trading Leading Stocks”.

Trading stocks that are outperforming the broader stock market have a higher probability of success.

Greed, fear, uncertainty and the willingness to take risks have determined human actions for millennia and, of course, how people have manoeuvred their money around the world's markets for centuries. When we learn to read the buyer and seller interaction from the charts, we will be able to read and handle any price chart, on any market and for all times going forward.

Your best analysis is done by asking the question, “Where is the loser?” The last thing you want your analysis to do is attempt to predict price action. You want your analysis to disclose historical information. You want information that discloses where the loser is, what he is most likely thinking, and where he will most likely be forced to liquidate the losing trade.

Most traders now believe that if you have an open-trade loss after this mental dance of technical analysis has been done, somehow the analysis was not done correctly—otherwise, they would have been on the other side or waited. This illusion is what mosttraders operate under for the entire life of their trading career. The more firmly entrenched a trader is in this illusion, the greater amount of study or analysis he will do or the greater amount of money he will spend trying to develop a better technical approach.

If the consumer society no longer produces myth, this is because it is itself its own myth. The Devil, who brought Gold and Wealth (the price of which was our soul), has been supplanted by Affluence pure and simple. And the pact with the Devil has been supplanted by the contract of Affluence. Moreover, just as the most diabolical aspect of the Devil has never been his existing, but his making us believe that he exists, so Affluence does not exist, but it only has to make us believe it exists to be an effective myth. Consumption is a myth. That is to say, it is a statement of contemporary society about itself, the way our society speaks itself. And, in a sense, the only objective reality of consumption is the idea of consumption; it is this reflexive, discursive configuration, endlessly repeated in everyday speech and intellectual discourse, which has acquired the force of common sense. Our society thinks itself and speaks itself as a consumer society. As much as it consumes anything, it consumes itself as consumer society, as idea. Advertising is the triumphal paean to that idea. This is not a supplementary dimension; it is a fundamental one, for it is the dimension of myth. If we did nothing but consume (getting, devouring, digesting), consumption would not be a myth, which is to say that it would not be a full, self-fulfilling discourse of society about itself, a general system of interpretation, a mirror in which it takes supreme delight in itself, a utopia in which it is reflected in advance. In this sense, affluence and consumption – again, we mean not the consumption of material goods, products and services, but the consumed image of consumption – do, indeed, constitute our new tribal mythology – the morality of modernity. Without that anticipation and reflexive potentialization of enjoyment in the ‘collective consciousness’, consumption would merely be what it is and would not be such a force for social integration. It would merely be a richer, more lavish, more differentiated mode of subsistence than before, but it would no more have a name than ever it did before, when nothing designated as collective value, as reference myth what was merely a mode of survival (eating, drinking, housing and clothing oneself) or the sumptuary expenditure (finery, great houses, jewels) of the privileged classes. Neither eating roots nor throwing feasts was given the name ‘consuming’. Our age is the first in which current expenditure on food and ‘prestige’ expenditure have both been termed consumption by everyone concerned, there being a total consensus on the matter. The historic emergence of the myth of consumption in the twentieth century is radically different from the emergence of the technical concept in economic thinking or science, where it was employed much earlier. That terminological systematization for everyday use changes history itself: it is the sign of a new social reality. Strictly speaking, there has been consumption only since the term has ‘passed into general usage’. Though it is mystifying and analytically useless – a veritable ‘anti-concept’ indeed – it signifies, nonetheless, that an ideological restructuring of values has occurred. The fact that this society experiences itself as a consumer society must be the starting point for an objective analysis

Forensic DNA Expert Anil Gupta offer a variety of DNA forensic testing systems including STR, Y-STR, and mitochondrial DNA. The DNA Sample in Forensic Analysis can be collected from blood, saliva, perspiration, hair, teeth, mucus, finger nails, semon and these can be found almost anywhere at crime scence. Anil Gupta is here to help make sense of this complex scientific issue and to testify before the court on these issues when necessary. Initial Consultation is FREE – If you send us the report we will lend you our expertise to help you understand your situation. Written Reports and Affidavits Discovery Documents – free by request, all you need to obtain the entire laboratory case file Mike is a leading forensic DNA expert with considerable experience in forensic biology. He is a clear and balanced expert opinion highly qualified provider to help lawyers, attorneys and lawyers support their clients and the criminal justice system. He is a very experienced scientist, whose career has focused on developing the ability to DNA analysis, defining standards, interpreting results, explaining evidence and providing advice to help both the defense and Processing equipment. Mike has a great depth of technical knowledge. As the chief DNA scientist (head of discipline) with the former Forensic Science Service (FSS), he established technical standards for DNA analytical processes, staff competencies and training. He was head of the Specialist Unit at FSS DNA and led the creation of the first dedicated facility of ultra-clean low template DNA. He has led the validation and implementation of several important new DNA processes. Through audit and process review, it can provide an effective and risk-based quality assurance, as it has for many years to the FSS, to the National DNA Database and to the courts.

Holding losses and hoping to break even is not an investing or trading plan. That is dumb money on suicide watch!

You don’t make money by trading, you make it by sitting.

When we think of architecting software, we tend to think first of classical technical activities, like modularizing systems, defining interfaces, allocating responsibility, applying patterns, and optimizing performance. Architects also need to consider security, usability, supportability, release management, and deployment options, among others things. But these technical and procedural issues must be balanced with the needs of stakeholders and their interests. Taking a―stakeholders and interests approach in requirements analysis is an excellent way to ensure completeness of requirements specifications for the software being developed.

The Spring event describes a bearish movement that breaks a previous support area and whose purpose is to carry out a transfer of shares from the weak hands (traders potentially manipulable due to their ignorance of the functioning of the market and because they trade based on their emotions) to the strong hands (large traders).

Read the notes.Never buy a stock without reading the footnotes to the financial statements in the annual report. Usually labeled “summary of significant accounting policies,” one key note describes how the company recognizes revenue, records inventories, treats installment or contract sales, expenses its marketing costs, and accounts for the other major aspects of its business.7 In the other footnotes, watch for disclosures about debt, stock options, loans to customers, reserves against losses, and other “risk factors” that can take a big chomp out of earnings. Among the things that should make your antennae twitch are technical terms like “capitalized,” “deferred,” and “restructuring”—and plain-English words signaling that the company has altered its accounting practices, like “began,” “change,” and “however.” None of those words mean you should not buy the stock, but all mean that you need to investigate further. Be sure to compare the footnotes with those in the financial statements of at least one firm that’s a close competitor, to see how aggressive your company’s accountants are. Read more. If you are an enterprising investor willing to put plenty of time and energy into your portfolio, then you owe it to yourself to learn more about financial reporting. That’s the only way to minimize your odds of being misled by a shifty earnings statement. Three solid books full of timely and specific examples are Martin Fridson and Fernando Alvarez’s Financial Statement Analysis, Charles Mulford and Eugene Comiskey’s The Financial Numbers Game, and Howard Schilit’s Financial Shenanigans. 8

The point here is that runs of 4 or more heads or tails are perceived as a nonrandom pattern, when in fact they are in fact the rule in random sequences, not the exception. Stock market participants frequently make this mistake, and an entirely bogus field of finance known as “technical analysis” is devoted to finding patterns in random financial data.

While you can learn a lot about the markets by studying his infographics online, this book takes it a step further by explaining the timeless principles of technical analysis that measure the emotions and trends of the market. It illustrates how to trade price action and demystifies chart patterns with a common sense approach. It's important to realize that there's more to trading than memorizing patterns. It's critical that traders learn to manage their risk and their emotions for long term success, and Rolf does a great job of sharing these principles and making them applicable to technical chart analysis in all financial markets. Rolf set out to write the trading book he wished he had when he started his trading journey 15 years ago, and in the process, he created the book that every new trader will be thankful for

Often, just a few stocks might lead the way and outperform the rest of the group. However, although some stocks might lag the initial strength of the group, in general they eventually catch up and follow the prevailing trend.

There are industry groups that are more sensitive to consumers’ spending than others and there are those which are most affected by interest rate fluctuations.

The rise of interest rates implies an increase in the cost of money, which tends to exercise downward pressure on the profit margins, sales, and earnings of all industry groups. Some, however, are more sensitive to rate fluctuations than others.

Two economic sectors that are particularly sensitive to interest rate trends are the building and auto industries.

The uncertainty of the employment outlook during periods of economic slowdown also forces prospective homebuyers to postpone their spending plans until future dates.

When interest rates move up, the stock market moves down, and vice versa. Investors should be fully aware of this relationship, as it is the most important factor to consider in assessing long-term trends in the securities market;

When rates rise, bonds decline, and when rates fall, bonds advance.

As a general rule, the stock market trend follows the lead of the bond market, which is sensitive to interest rate directions.

Banks lead the interest rate cycle. They feel the brunt of rising interest rates and benefit from their decline. When interest rates rise, the spread between their cost of capital and their sources of revenue-loans declines. This, in turn, exercises pressure on profit margins and profitability. In addition, rising interest rates tend to have a negative effect on demand for credit, causing it to slow down.

When the Fed tightens and rates rise, the building industry suffers, and when the Fed is easing and rates decline, the housing market revives. Cyclical downturns are led by shrinking demand for durable goods—mainly, housing and autos.

The extent to which the distinction between “social” and “intellectual” is accepted as unproblematic by observers of science may have significant consequences for the reports about science which they produce. The Social and the Scientific: The Observer’s Dilemma At one extreme, we can envisage the wholesale adoption by an observer of the distinction mentioned above. In this case, the observer holds an assumption that scientific phenomena occupy a realm largely distinct from that of social phenomena, and that it is only to the latter that the concepts, procedures, and expertise of sociology can be applied. As a result, the procedures and achievements central to scientists’ work become largely immune from sociological explanation. Approaches which implicitly adopt this standpoint have been roundly criticised on several grounds. Rather than repeat these criticisms in detail, we shall merely outline some of the main critical themes. Firstly, the decision to concentrate only on “social” rather than “technical” aspects of science severely limits the range of phenomena that can be selected as appropriate for study. Put simply, this means that there is no point in doing sociology of science unless one can clearly identify the presence of some politician breathing down the necks of working scientists. Where there is no such obvious interference by external agencies, it is argued, science can proceed without the need for sociological analysis. This argument hinges on a particularly limited notion of the occasional influence of sociopolitical factors; the substance of science proceeds unaffected if such factors are absent. Secondly, emphasis on “social” in contradistinction to “technical” can lead to the disproportionate selection of events for analysis which appear to exemplify “mistaken” or “wrong” science. As we shall show, an important feature of fact construction is the process whereby “social” factors disappear once a fact is established. Since scientists themselves preferentially retain (or resurrect) the existence of “social” factors where things scientific are thought to have gone wrong, the adoption of the same viewpoint by an observer will necessarily lead him to the analysis of the way social factors affect, or have given rise to, “wrong” beliefs.

Scientific achievements held to be correct should be just as amenable to sociological analysis as those thought to be wrong. Thirdly, emphasis on the “social” has led commentators to argue for some redress of an imbalance: not enough attention is thought to have been paid to the “technical.” For example, Whitley has argued that sociological interest in science is in danger of turning into a sociology of scientists rather than a fully fledged sociology of science:

Once the boundaries have been established, the next step is to make the operations and workflow visible with the assistance of a board or other aids. While identifying the individual steps of the process through which the workflow passes, Kanban groups should not let themselves be tempted to make the mistake of simply illustrating the official process as stipulated in project handbooks. Of course, there are organizations (such as military or infrastructure) that are required to adhere to strict processes. However, apart from these exceptions, official processes usually exhibit the weakness that they only exist on paper and barely correspond to actual reality. Such nonexistent processes are the wrong starting point for change. To orient ourselves around them would unnecessarily delay the change and/or improvement. In a technical kanban system, it is always the process currently being used in real life that should be visualized. The visualization is therefore also a task for the Kanban team—only the team knows how it actually functions. The identified steps in the process are listed in columns according to their operational sequence. Figure 3.1 shows a sample workflow of analysis, development, and testing represented using a visual board. As with most things in Kanban, there is no recommended layout for the board. We have seen boards visualizing the workflow in spiral form and boards using a motorway as a metaphor—anything that expresses the process as sensibly and clearly as possible is permissible. Many teams explicitly take note of the completion criteria (“definition of done”) for each step so that all team members share the same understanding of when the work has been finished.

When trading countertrend against a strong trend, it is imperative to wait for the signal bar to close before placing your order, and then only enter on a stop at one tick beyond the bar in the direction of your trade (if you are buying, buy at one tick above the high of the prior bar on a stop).

Look for strong price signals: channel breakout, head-and-shoulders, good range trades. (I used to include Golden Cross, but it let me down once too often. Maybe I should give it another try, as that was a few years ago.) Always confirm the price signal with another indicator (RSI or volume). If in doubt check a third indicator. If that is not conclusive, don't trade. Ensure the potential profit is at least 2x the stop-loss level, 3x or more if possible.  Trade in lots of [5% my portfolio size]. Place the stop-loss at the same time as the order. Do not ever, ever break these rules. The market can stay irrational longer than you can stay solvent. If you can't find a trade, don't try to make one.

Price action is far more important than any other information, and if you sacrifice some of what it is telling you to gain information from something else, you are likely making a bad decision.