K-meister,
I do not disagree with anything you said, except that I do believe the charts excel in providing input on entry and exit points. I watched HC this morning off and on, clicked on a couple of 10 minute and 5 minute charts and saw (thought I saw) it bouncing like a basketball off 14. I thought it would go back down for one last bounce and tossed in a limit order to buy at 14.25. It didn't get hit and I ended up buying at 14.90. Now, I know that some folks bought at 14.90 or better yesterday and, so, can rightly ask, what does the chart get you that good old ratiocination and luck doesn't?
Well, if this had not been the short term bottom, I believe the chart would not have given the signals that it did. I can't prove it, no one can, but I believe it. So, it gave me the comfort not only to buy at 14.90 but it gives me the (chart driven) comfort to hold to about 21~22, if things don't change.
Yes, I probably have a full position in the stock for me, since I'm sworn by all that is holy to practice the art of position management.
OT: another good looking short: COF.
Kb |
