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One of the problems with indicators is that they don t always work in every market; even more frustrating, they sometimes stop working altogether The lesson, says Forbes columnist and author Ken Fisher, is this: the market constantly changes, and so do indicators The nature of capital markets is that things keep morphing, Fisher explains The market is analogous to a near-living spiritual entity that I refer to as the Great Humiliator, he quips It exists for one purpose and one purpose only: to humiliate as many people as possible for as many dollars as possible over the longest time period as possible Therefore, Fisher suggests, your goal is to try to minimize the degree to which you re humiliated: And the only way to do that is to keep changing with the Great Humiliator He says that many people have dug their feet in the sand and refuse to change their methods But my preference is to try and keep coming up with new things Because in my industry if you re right 65 percent of the time, you become a legend but it also means you could be wrong 35 percent of the time, which is a lot Fisher also says you have to be careful about making hardand-fast rules For example, he says you could make a rule to buy above a stock s 200-day moving average and sell when it s below its 200-day moving average But it s not that simple The goal is to change with the world and come up with new ideas that other people haven t figured out yet, he says This also includes coming up with new market indicators There are a thousand indicators, Fisher suggests All of these indicators have a time when they work and a time when they don t work If you apply one set of indicators all of the time, you will by definition run hot and cold Fisher has tried out many technical indicators and found many inconsistencies: Most technical indicators not all, but most tend to work sometimes and not work other times The key, he says, is to use them in conjunction with other methods: You could look at MACD, which shows an oversold.

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INSERT INTO SSISIncrementalLoad_Dest.dbo.tblDest (ColID, ColA, ColB, ColC) SELECT s.ColID, s.ColA, s.ColB, s.ColC FROM SSISIncrementalLoad_Source.dbo.tblSource s LEFT JOIN SSISIncrementalLoad_Dest.dbo.tblDest d ON d.ColID = s.ColID WHERE d.ColID IS NULL

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Although occasionally database schemas are this easy to load, most of the time you have to include several columns in the JOIN ON clause to isolate truly new rows. Sometimes you have to add conditions in the WHERE clause to refine the definition of truly new rows. It s equally crucial to identify changed rows. We ll view the changed rows using the T-SQL statement in listing 6.

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position Then you could link that to a long-term fundamental indicator that makes you feel the economy is getting markedly stronger going forward This gives you an approximate buy signal Fisher has other ways to try and beat the market For instance, he attempts to figure out where the crowd sentiment is and matches that with economic reality: If economic reality is different from sentiment, you try to arbitrage the spread between the two The dilemma is that in the long run you have a laundry list of things to keep an eye out for, but as the world changes, you try and come up with new things that will work I m trying to get an edge by figuring out something other people haven t figured out yet Fisher is recognized for creating and popularizing the Price/Sales (P/S) Ratio, which has allowed investors to value a stock relative to its own past performance, other companies, or the market Many have claimed the P/S Ratio has been even more useful than the P/E Ratio But things change, Fisher readily admits I don t think the P/S Ratio has the power it used to have, he says When I was working on the P/S, there was no data written about it, so it was an exciting discovery At the time, before the Internet, it was expensive to find the P/S of individual stocks Now, because you can get the P/S of almost any stock for free, and screen for it instantly, it s lost some of its luster Fisher says it s the same with most indicators They will work for a period of time and during certain markets And then, just like that, they stop working, perhaps because more people find out about them

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To copy a worksheet to a new workbook, use a copy worksheet command with the worksheet name but without either the before parameter or the after parameter For example, the following statement copies the worksheet named Materials from the active workbook to a new workbook:

SELECT d.ColID, d.ColA, d.ColB, d.ColC FROM SSISIncrementalLoad_Dest.dbo.tblDest d INNER JOIN SSISIncrementalLoad_Source.dbo.tblSource s ON s.ColID = d.ColID WHERE ( (d.ColA != s.ColA) OR (d.ColB != s.ColB) OR (d.ColC != s.ColC) )

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