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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 76.94+1.1%Nov 28 9:30 AM EST
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To: Helios who wrote (11004)12/17/1997 8:43:00 PM
From: sepku  Read Replies (1) of 77400
 
>>>On the contrary, when Cisco hit 85 you said you would study the charts before shorting it. <<<

Looking at the charts is the only way I know of to observe the historical performance of a stock. That doesn't mean I'm analyzing the chart and trying to make out shapes in the clouds.

The only TA that I use, are those indicators that are based upon crowd psychology -- dma, support, and resistance, are a few examples. The rest of that noise that entails finding shapes in graphs (flags, pennants, h&s, etc.) I leave to the technical wizards who happen to think it works...I'm starting to think they're just using it as a sort of self-therapy to convince themselves that they have an idea of what a stock is going to do.

But psychology and emotions (fear/greed) are well acknowledged factors that drive the market -- so I pay heed to them. And even then, I believe that the accuracy of these indicators are greater the shorter the time frame. After that, fundamentals and macro-economic factors destroy their usefulness. Which is why canned TA programs that spit out numbers are garbage, and analysts are always changing their minds every other month.

Mostly I prefer fundamentals/valuations. But for day trading it's only real-time intraday charts -- fundamentals are rendered useless.

Style Pts.
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