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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Matthew Leo who wrote (7541)2/1/1997 7:34:00 PM
From: Ghassan I. Ghandour   of 42771
 
Matthew - You asked me a fair question, what is technical IMO. Well, I consider TA as the one possible explanation of something that happened AFTER it has happened. I have yet to see someone predicting what is going to happend to a stock three times in a row (or even two times) based on technicals. I do that often on some stocks I get to know very well. I do not, however, draw any charts or look at any moving average. I do have a lot of intuition and I tend to remember the details of every trading day for more than one year going back. I also never forget important events and how the stock responded. Above all, I feel that every stock has its own identity, or character and there is a market psychology associated with it. This is not your usual TA as the rules there seem to be stock independent. Or, it maybe that the rules of ordinary TA discover somehow the things I described above, somewhat on their own. By the way, I said here and elsewhere before that the rules of TA should be evolved to take into account the revolution brought about by the internet as commisions has become almost an insignificant part of a trade and information has become redily available to traders. I was surprised to hear Elaine Gazerelli mention the internet element in her recent interview on CNBC. Ghassan.
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