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Strategies & Market Trends : Bill Wexler's Profits of DOOM
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To: Bill Wexler who wrote (306)3/10/1998 3:12:00 PM
From: Jim Roof  Read Replies (1) of 4634
 
Bill,

Only a fool would believe that a large backlog of shares purchased at a high price would not have an effect on a stock's future performance once that issue begins to trade lower. Only a fool would believe that large quantities of an issue purchased at a low price will have no effect on it's future performance once it starts to move up.

Technicals, whether you like it or not - and whether you believe in them or not, are simply the net result of market psychology as seen through price/volume movements.

Do not try to tell me that price and volume have no bearing on a stock's price or that how a stock has traded for the last 3 months has no bearing on how it will trade now.

Jim
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