Re: A charting tool that is new to me, Barcharts.com:
Hello ynot (my sentiments exactly!),
And apologies to Paul V.,
Though I am using MCOM as an example here, I have no interest in discussing it as an investment vehicle. Rather, what I am hoping for from this illustrious panel is a little discussion of a web-based charting tool that I was introduced to last week:
equities.barchart.com
Not having used this Barchart.com service before, I have no idea how they generate their TrendSpotter (TM), nor the algorithms used to establish the buy/hold/sell decision on the other indicators. Some of the other companies I have entered into the 'opinion' mill seem to be quite accurately depicted. The rating of MCOM, which had the same rating last Thursday, stands out as either an incredibly good call, or an invitation to disaster for latecomers as the stock comes back to earth.
Does anyone have a historical record of the accuracy of the Barchart opinions?
Does anyone have an opinion as to the usefulness of such a tool?
To my simple mind, it seems that it is useful in that it can quickly provide a picture of market sentiment regarding any particular issue, but that all we are working with are rear-view mirror artifacts with questionable predictive power. Any other skeptics or believers out there in the ethersphere who care to chime in?
Best, Ray |
