OT...TA Comments
I must say that while I mostly lurq, the debate on TA has really interested me. Besides reading every post on this thread, I also read every post on the 56 Point TA; Charts with an attitude Thread for the sole purpose of learning about TA. This was an interesting post Monday from that thread by the head of the TA thread about some of the stocks I own.
Message 13746948
Looking at his forecasts he was pretty much right on almost every one except SDLI (cause of today). Here are a few.
quicken.com
I also chat quite a bit on AOL Instant Messanger with an individual who is a short term TA Trader from Iowa and is considered the assistant of the TA thread that I follow. I often ask him about buy in prices of Gorillas I invest in and he sometimes asks me about fundamentals of companies he's looking at, although I'm sure I value his view more than he does mine. He also recommended a book that I am beginning to read on TA; a bit over my head but interesting.
The one thing he keeps pounding the table for a LONG like me is that I should understand how to draw trendlines and follow how each of my long stocks is doing. Now he tried to get me to sell my BRCM at 175 and plenty of others be4 this mess started because several of the stocks that I held lost their support and were bound to fall hard, he said. Well, he was right.
I guess my point is that while I remain a long, IMO understanding TA can only help us, even if we are longs. The problem I, and many of us have, is that there is not enough time in the day to be master of all. I don't know if knowing TA would've helped you, or I, or any of us, but it would've pointed to the logic in selling many of our stocks and preserving some of the gains, and when they go back up it will point out breakouts that we should be buying them back at. Again, it all comes down to how much you want to know, and how much time you have to learn.
Best Regards,
Bretsky |
