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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Robert Graham who wrote (4862)	1/18/1998 3:28:00 AM
From: Chris	Read Replies (1) of 42787

[response to bob g's post] from the brief skim of your post, i would like to add just a few pointers.. i've probably said this before, but please bear with me.. i think TA shouldn't be complicated unless you want it to be.. TA doesn't HAVE to involve with complex equations.. TA doesn't have to be 100% TA and no FA.. it's YOU that have to decide for yourself if: 1) Is TA right for you.. can you see the lines ? can you trust the lines? are you analytical to decipher their meaning? after answering those questions.. TA does not have to complicated: some examples: 1) Groundzero's simple use of Andrew Pitchforks.. so simple yet effective.. 2) Moving averages .. most commonly -- 50 day and 200 day.. make up a system.. doesn't have to be hard/confusing.. a simple rule/system: i will not buy anything below 200 day ma.. that itself will save you from blood and horror.. 3) trendlines/support/resistance.. a little more advanced here, but still very simple to use.. the key is "can you spot them?" ======= We use TA in many ways that we fail to realize. Bob G. made some great examples.. let me add some as well: 1) 52 week hi/lo 2) volume! isn't volume part of TA? "there was heavy buying today" .. that is TA! 3) IBD's RS/EPS/ACC&DIS rating.. 4) "we had a gap up today".. that is TA. 5) what about this? "i think the mkt will go to 7600".. i highly doubt that FA will tell you that level.. it's because there is support at 7600.. use of support, means youre using TA tools to help you.. ========================================= again, i do believe in FA.. but up to a certain point.. reason why i discount FA is: 1) what does fair value mean? if $70 was fair value, why doesn't a stock stay at $70 when it reaches there? No, it fluctuates around that level.. 2) $70 can be 3 months from now.. but what does the FA tell right now? nothing.. only TA can tell you/or TRY to tell you about the near-term.. 3) FA is not a timing tool. isn't the time you buy/sell crucial? ======= FA IS important to weed out the good and bad stocks. a good stock has much more potential to move higher than a weak one.. you are comparing a stock like RACE or BREX vs IBM or DELL FA has brings a lot of "ambiguity" and lack of objectivity.. which will lead to "hoping and emotional factors".. "this company has a strong balance sheet and is undervalued. thus it HAS to go up".. ahhh not really. look at RADAF.. nothing changed fundamentally, but it still tanked from 18 to 12 7/8. but TA would have gotten you out at 18.. time to go to bed.. just my thoughts..

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