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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum
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To: Jenna who wrote (290)1/2/2001 12:25:54 AM
From: Jenna  Read Replies (2) of 6445
 
Technical Analysis charts? I am looking at intraday charts as you can discern from the imbedded intraday charts within the daily charts on watch list for today and probably through this week and maybe longer. I don't feel technical analysis will read the market but only fundamental analysis in the next few weeks - companies that beat earnings estimates and you will see the results on INTRADAY charts. I don't feel that companies that dare parade around with triple digit P/E ratios will survive the upcoming earnings quarter. There are many companies with downside and by the second week of January they will be revealed.

Only artificial intervention by the Fed will stave the downward spiral and forget it if you think technical analysis charts will do anything but mirror the Fed's or the fundamentals realities going forward. We will have to do more homework in the coming weeks to isolate winners from losers but we are up to the task at hand. Be aware that long time favorites will probably collapse in the coming weeks if they are still trading at unrealistic valuations. If you are blindly following artificial intelligence, chart patterns, cycles or waves you will probably be caught up in a down wave. Technical analysis is only one tool to aid and provide a possible guideline to a trading set up but just some stocks spewed forth from a scan will do nothing without meticulous fundamental analysis and general market direction analysis to add to the formula.
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