>Soup: Critique this because you seem to know a lot more technical stuff than I do.<
Woo-woo hee-hee ya-ya, rolling-on-the-floor-laughing!! :0
Boy have you got the wrong guy. Talk about subjects I don't get at all.
Feels like people are trying to get control over the uncontrollable ... trying to extract order from chaos.
IMHO, technical analysis is a belief system -- it works only to the extent that *others* believe in it.
BTW, I feel the same way about momentum investing -- the street rewards companies that can put up manage expectations. But businesses to not develop in orderly predictable patterns. Sooner or later things go wrong and if you running a PE of 40 ... look out below. Doesn't mean its a bad company but even the best companies stumble. Which may be the best time to buy.
Example: I just took a position in a diversified medical technology earnings momentum that busted down from $53 to $10 on an earnings letdown. IMO, they're well managed with good products and they've got about $5/share in cash, so shouldn't be much downside risk. I figure I'll make good money with a 12-18 month horizon. What's technical analysis or earnings momentum got to do with it?
With AAPL, talk about hardware, software, developer support, market share, balance sheet, marketing initiatives, corporate alliances, business climate. You know ... stuff.
soup
PS. I herein apologize to technical adherents. Many do very well with it. I know a day trader who purposely *ignores* fundamentals as a needless distraction. I think what you believe is very much a function of personality. |
