Your target of 57 by when?
Hi Glenn,
I'm gonna pass on answering your question on time frame for target on COMS for several reasons;
1. The stuff I posted was a small part of a bigger picture that I look at, it was top and bottom targets for a few deals. (The numbers were arrived at by "pure" TA; no fundamentals.)
2. The "top and bottom" calculations that I do don't include specific time frames, all they tell me is a number. Additionally, I don't look at TA as my only filter. I use a combination of TA and fundamental analysis, relying on TA for clues on entry and exit points.
3. Most importantly, and I'm glad you asked, after 10, (no 11, yow!) years of studying TA, I have come upon what I believe to be the primary filter without which success is impossible. It is this;
No amount of TA, no amount of fundamental analysis, no amount of software or tips or phone calls or intelligent friends can help an investor if he does not form his own opinion and then act upon it. Forming one's own opinion is the keystone upon which all success is built, IMHO. What I posted was a bit of work on a few stocks that I hoped might help you form a better opinion.
What I believe is missing from the "seminars" and the software and the services and all of that is the basic underlying understanding that the HUMAN BEING must form his own opinion, and the HUMAN BEING that is acting upon his opinion. I'm not spending my computer's money, so my computer does not make the call. Once that is done, one should reinforce what worked and not do things that didn't. (Easier said than done, I know, but you get the idea.) Use what is useful, (after recognizing that it is useful), and ignore what is not. If candlesticks don't work, (for you), ignore them. If chanting at the moon gives you a tip on the market tomorrow, God bless you, as long as you don't wake the kids! (I don't like illegal or immoral stuff, it has been terribly counter-productive for me.)
Finally, I believe that it is important to not lock myself in to one way of looking at something. If I see a fresh viewpoint that seems to make sense to me, I'll investigate. It might help me form a better opinion. If it doesn't work, it's history. (Ever bought on a rumor?) I value the information I get from you and the others here at SI, and I hope I can make some small contribution in exchange.
Best, pete
P.S. you're welcome! thanks for the stuff you post too! |
