shamsee,
I'd like to clarify that I really, truly don't care whether or not people use TA, FA, or a combination of the two. I've got no axe to grind because I've got no control of anyone's dollars other than my own and a few children to whom I've made commitments.
My response to you wasn't because I think you're right or wrong about using TA. I've never studied TA and have no informed opinion. Therefore, I don't express one.
Instead, my response was about your short-term assessment of LTB&H in a way that appeared illogical to me. It still does. Moreover, using the same method of assessing TA seems equally illogical.
If TA can give me some warning sign the next time around,I want to learn what it is all about before I give it a blanket dismissal.
I don't remember if you are steeply immersed in fundamental analysis, but FA would have given you the same warning signs. If I were using short-term tactics, I would have removed a healthy portions of my funds based solely on the fundamental valuations of companies sporting PSRs in the 100s, huge companies trading at PE multiples 5 - 10 times thier estimated growth, etc., etc., etc.
My point is that for those who are unaware, I wouldn't want them being mislead into thinking that TA was the only method of realizing how high the prices were getting. And it's not as if I wasn't mentioning it regularly here on the way up.
--Mike Buckley |
