Craig Crawford says:
"<< Yes the tape says this stock sucks. But the tape will not predict a major partnership announcement. >>
More than likely it will. Of course sometimes wall st. is taken by surprise, but if there is a huge deal going on with FIBR, it's stock will start acting like it."
I am not currently in FIBR. I had enjoyed its runs from 8-9 to above 10. I monitor this thread, and I have to say I really disagree with your investment style. I'm relatively new in stocks, but have been reading much and so far have done mediocre by my measurements (i.e. up 50% since I started in August). I firmly believe I will do much better in the future because I am recognizing how to exploit stupidity in the stock market.
Your major argument is that Wall St. is all knowledgeable. The tape knows all, etc. etc. I would have a 10,000 line article if I listed all the times I have seen Wall St. act like a complete dunce. It follows mass hysteria. It bids down Intel a huge amount, forcing the sheep to sell at the bottom where people who look at the long-term hold on and get a nice bounce. As someone said on TV, some idiots left $17 per share on the table that morning. It just slammed all disc drive makers for SEG warnings, including WDC who is partly responsible for SEG problems with increased high-end penetration. Its analysts give strong buys after great earnings reports and then downgrades after a stock crashes. And we have people like you trying to convince people that current price means everything. Stock price does not equal company performance. A bright man by the name of William O'Neil said that.
While there is much to be said for prior stock price movements, a la "What works on Wall St", much of the literature also incorporates P/E, P/S, and other more important information other than purely technical analysis (which is what you preach). Ironically, your past messages also decry using past information so you don't even get the benefit of all the technical analysis methods. |
