any thoughts? I always have thoughts :-) How good they are you have to judge for yourself. I'm probably the worst guy to ask for TA, because I am a ltb&h type and just use elementary TA to see if a stock is overbought or oversold, get some idea of where it is headed for the short term, and occasionaly to decide on entry positions. Everything I know about TA I learned from Vendit, who is much better at this stuff, you might ask him. My own opinion is that it is a waste of time to spend $1300 or even $1 on a TA program unless you are a trader, spend inordinate amounts of time learning charting skills, and have a lot of luck. If you don't fit those criteria, there are numerous web sites with free TA charting. My own favorite is www.askresearch.com and it is free. I mainly just look at the stochastics and the macd for signals. The site has its own mini tutorial that tells you what to look for. I don't think TA is all that worthwile for the non-pro, except for those times when there are clear signals that the stock is about to move up or down, the rest of the time it's hard to tell what is going on. It is also blown out of the water by news, and loses its value the further out one goes, you almost have to look at it every day. From what I saw for Qcom, it is several days away from signaling a buy, so I decided to accumualte now because of the noise in the signal. I'm sure I'm premature, and the actual signal will probably come around or after option expiration and ahead of earnings. But since Qcom is a long term hold for me, I would rather be too early than too late.
Good luck. |
