Re: Now, Where Did I Put That Coin? [Off Topic]
Do you ever feel that TA is closer to guessing than analysis?
Oh, h--- yes! :-)
What TA can provide a trader are entry and exit disciplines. They can also signal trouble in an issue. TA, like movie screenplays, is at its best when a pattern or formula can be explained in a single sentence. The high concept behind the double top I've been harping about is, "It's bad news when buyers refuse to pay more than 12 7/8 for LGND on two separate occasions."
Are they useful for buy-and-hold people? Frankly, I agree with J.J. Cramer and W. Buffet: buy-and-hold is for stocks in companies with earnings. If you have a well-managed company with a good product, sound cost control, and the means to expand its profitability (brand name, market control), you don't need a chart to tell you to buy. The biotechs, even those that appear well managed, generally don't qualify.
Pý |
