Oh no you don't...
Nope. You can't carry on a multi-post discussion about how Technical Analysis stuff should properly be presented to the thread and at the same time forbid anyone else from jumping out of the bushes and challenging TA itself. Not fair to our side.
If TA worked, the stock world would be awash with anal/mathematical zillionaires. It doesn't; it isn't.
Simple task to prove that it does work, to prove that it's not just a finely-polished backward telescope. Just have TA tell us where a certain stock is going to be tomorrow, a week from now, a month, a quarter, a year.
Can't be done. Business forecasts can be made that guide us into a general feeling about how a stock will flow. But then tomorrow, or next Thursday, China, say, bombs, say, Russia, or the lab comes out with something that makes coffee obsolete. Poor little SBUX chart, then.
IMO, many of the people who are constantly predicting stocks for us, on TV or here, are more about ego-boosting and money-making than science. Go to the Yahoo threads (a risky proposition, admittedly, since they are far, far north of Hadrian's Wall) and listen to the incessant drumbeat of chest-thumping. It's going to do this!!! No--I say it's going to do that!!! I'm right!!!!!
Psychology tells us where all this comes from. And the thing is, TA gives these folks a pseudo-intellectual/scientific hook to hang their hats on. By golly, I can play with these fascinating lines and numbers and understand them and yes, discover Truth. I am BIG.
And then, worse: when, by the law of statistical inevitability, they hit it right, once, there's no stopping them, ever.
Harmless, yes. We don't have to listen. But sometimes, you know, don't you just want to...
"Adam Smith", one of the three wise men of stocks IMO, used to collect TA books as a hobby. For amusement.
God, what a rant.
Slow stock day.
Enjoyed it, though.
Harmless, yes?
Tom |
