I dont know Darrell, Im a believer in the semi-strong "Random Walk" theory behind Wall Street. I think TA is really mostly smoke and mirrors, at best a distraction, FA remains ultimately the proof for stock price. I.E. the market is very efficient at pricing a particular security, even for a day or week trader. Discrepencies do and will persist, but in the long run I have never met a "TA" person who has beaten an unmanaged index fund over the long haul. I find it very interesting if one examines their individual returns had they just invested in say a Vanguard Index Fund, instead of their own stock du-jour. Yeah, you can beat the market for 1,2,3, years, but over the course of 10 years? No-way, not with TA. Peter Lynch, probably one of the best stock pickers ever, came to the same conclusion.
BPF |
