Subject: Technical Analysis
Date: Sun, Nov 2, 1997 14:58 EST
From: PBehar
Message-id: <19971102195801.OAA21869@ladder02.news.aol.com>
I have noticed a plethora of technical analyses these days (particularly since the downturn) of the stock price of Agouron, both on AOL and on SI.
I have been in the market for more years than I care to admit, and have come to the realization that technical analysis is just as valuable as tea leaves, sunspots, palm reading, astrology, etc. In the final analysis, if it worked, why aren't they all multimillionares? They draw trend lines using rubber bands, identify formations like head and shoulders, flagpoles, cups, saucers, dogs, cats, and in some seasons, goblins. All nonsense.
Based on my many, many, many years of experience, money is made in the market by finding good companies early, and staying with them (understanding that young companies are necessarily volatile). Examining every wart and listening to every fart only confuses your original research.
This company has met all my criteria for the past three years and I intend to stay with it. All of us are very lucky to have a group of posters who are extremely knowledgable about the company, the industry, and the market in general. We should be grateful to them for keeping us up to the minute on developments that we may have missed. I refer to LMoss, JohnW, and many more too numerous to mention.
Stay the course!
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