Hi Bobby, thanks for the response to my posting. I understand a fair amount of TA and I do look at charts. However, I don't consider myself to be an expert.
The basis of TA, or maybe I should say, the end result of TA is to forecast a stock's future price action. At best, forecasting is a very complex area of analytical analysis. The big problem, as I see it, in forecasting the stock market is the human element associated with the future moment of any stock. You can't forecast human behavior...at least not with any degree of accuracy.
I know a lot of PhD type of guys who are full time professors in the field of analytical analysis. I often "kid" them with respect to why they aren't all rich having played the stock market using all their analytical powers. I hate to tell you the answers that I usually receive.
The sure fire way to get rich in the markets is to know the right people...however, that's illegal...and, so much for that train of thought.
In any event, having observed yesterday's P-1 action, and this mornings action, I sold off 2/3 of my position. I'll await for things to settle down, reassess the company's fundamentals, and see if I want to reenter the stock.
Good luck to you...
Stock Bull |
