Presstek -- Stock of the Decade?? Message Board

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Technology Stocks : Presstek -- Stock of the Decade??

PRST 0.0001000

0.0%

Sep 29 10:16 AM EST

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To: Loren who wrote (3578)	6/16/1997 10:07:00 AM
From: Staff	of 11098

I love your post: >Over the last several years, I've designed, backtested, and used very well defined trading systems, so well defined that they are essentially 'cookbook' methods. These systems involve a combination of fundamental analysis, technical analysis, and some very basic buying/selling rules (e.g., stop orders). I have tested and used them over a wide range of market conditions, types of stocks, etc. I have ZERO doubt that they work!<< You and other are great at paper trading using historical data. Bottom line Don't BS yourself . If there was a system that worked, we would all be reading about it every week on the front page of Barrons.. Like the holy grail it is rumored to but I doubt if it exists. All systems make claims running off of old historical data. 99.9% fall on the a$$ in less than 12 months in real time. I say 99.9% because if sombody has a great system that really does work why sell it. Any system for sale is a fraud. Why do they need your $500.00 if it really works? They only money in technical systems is selling the systems to suckers. I never ever met one person who could say " I used the XYZ system by the book for 15 years and made money in the long run" If they do have it they sure as h@ll are not going to sell it or put it in a book. Many claim great day trading systems here on SI. Here is another one folks. Met thousands of people and professional traders in both stocks and commodities that were so called day traders. They all quit or went broke. They all made some pretty good licks from time to time but all ended up broke. Show me one to the copntrary and I'll show you sombody who either can't add or is a lier! Point #2 You talk about combining fundamental and technical annaysis. Your telling me your mixing oil and water in other words. Technical annalysis is based around the notion that the news of the day is irrelevant.. The true technition couldn't care less abou the latest unemployment report. The chart action is the only relevant issue of importance to the technical trader. The chart pattern will create the news and not vice vera . Based on a recurring historical probability, one will base a markets next move. In technical annalysis every action has a recurring and predictable reaction. In other words " fortune telling". It's bull$hit because it does not exist. True technical systems are 100% mechanical. There is no room for interpretation in true technical annalysis. Anyone who tells me they use both technical and fundamental annalysis is going by the seat of your pants . I will guarentee you will lose your shirt. Why? Because I can show you 100 to 1 people who lose money trying to combine the 2. I like those odds. Lastly: PRST is neither a buy or a sell. You can make very strong cases for the price to fly $20.00 in either direction tomorrow AM. Her is my expert and honest opinion of what I think the stock will do. I havent the a clue what it will do next. The company has many good products that look promising. It also has many legal issues allogations and other problems that have not gone away. it is also selling at one hell of a multiple. Can is go back to $200.00? Damn right it could. Could it drop to $40.00 tomorrow. Yes it could. Only thing that is a certain when it comes to trading is expect the unexpected. To say a stocks price cannot do somthing is almost inviting it to happen. I read much on SI. I have never seen anyone admit that for today at least. They just don't know. Somtimes a little humility allows one to live to play another day..

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