Alan Greenspan MUST GO: Message Board

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Pastimes : Alan Greenspan MUST GO:

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To: BWAC who wrote (268)	2/17/2001 4:26:45 PM
From: wdlngduc	of 494

Please don't dismiss chart reading as mumbo jumbo. Much can be learned from careful chart analysis. Just as you concentrate on analyzing the numbers of various investment opportunities, chart reading can play a part in your overall view. Fundamentals don't change much from day to day, but stock prices changes continuously, minute by minute. Sometimes violently. Since many traders disdain looking at fundamentals as much as you do charts, you must acknowledge that each has a place. Those who view the market with one eye closed will lose money. Keep an open mind. Back to Greenspan: He says we are not facing a recession. The economic numbers for January apparently are buoying his spirits. One month of better numbers does not a embryonic bull market make. February may tell an entirely different story. From the extremely poor earnings announcements coming out Friday from solid, big name companies, it leads one to think that the manufactured slowdown engineered by the Fed will have much longer to run. Personally, I find nothing to get bullish about. And with the aforementioned sixty-one percent bullish consensus thinking we are at a NASDAQ bottom, I feel even more uneasy about the future.

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