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Strategies & Market Trends : Technical Analysis - Beginners

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To: gonzongo who wrote (130)	9/28/1996 11:04:00 AM
From: David R. Evans	of 12039

Hello All, I tried to respond to Geek on another note but had problems so I'll reply here. Hello Geek, You are absolutely right when you say that TA will not explain everything about a stock!!!!! TA is not there to explain anything. TA is there to tell you exactly WHAT is happening not WHY it is happening!!!! That is the point that many people miss and it is very important. I do not care WHY a stock is going up or down. Knowing why will not make me anymore money. I just want to know when and how much.. TA can and does tell me what stocks to watch and I watch them. Most times I don't even know the names of the stocks I buy much less what they do or why they are moving.. I buy stocks for one reason and one reason only!!! To sell them back at a higher price!!! All the rest is BS and I have no time for it!!!!! Funnymentals can tell me how much inventory a company has and how many employees and how much book value BUT it can not tell me WHEN the stock price will move and that's the only thing I want to know.. I work in Finance for a Fortune 100 Company and I KNOW how those numbers are "massaged". I know I could never trust them BUT I know I can trust what is on the chart because THAT IS REAL!!!! If price is going UP, it is going UP and the chart can not lie about it.. If price is going down, it is going down and the chart will show it.. After I buy the stock the only thing that matters to me is PRICE!!!! Even Volume must take a back seat to PRICE. When I try to sell the stock the only thing I can put back into my account is PRICE. PE and EPS will not add 1 penny to my account, PRICE WILL!!! With that being the case, why should I care about things that will not affect my account????? I do look at EPS ratings from Investors Business Daily so I must admit that I do make 1 concession to Funnymentals BUT that is it!!!!! Anyone out there who uses Funnymentals along with TA please don't take this the wrong way.. If it works for you then go for it. There are only two reasons to change the way you play the Market.. When what you are doing stops working and if you find a better way to do things. I played this Market about every way you can and I found that TA worked the best for ME!!!! I am here to help others who think that it might work for them.. If what I say provokes thought for you then GREAT!!! That means that I am doing my job. If what I say offends you then I apologize because that IS NOT what I am trying to do. I guess it's time for me to get off of the soapbox and let someone else talk.. Dave Evans

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