Tom, since Melissa is one of my favorite posters on this thread, and she specifically asked me not to comment, I bit my tongue (there is blood spurting) and let the thing pass.
But I can't stand it anymore!! I have such little self-control.
TA is nonsense, and it has no place in reasonable discussions on companies and markets. Nobody has ever shown statistically that the method has any validity, and the only people who become wealthy using the method are those who sell newsletters, pamphlets and software designed to capitalize on gullibility. As PT Barnum said, there is a sucker born every minute, and five to take his money.
I'd as soon listen to an astrologer as invest any money on prognostications based on TA.
An astute poster to this thread noted back in April that License revenues as a percent of total revenues had declined, and license growth quarter over quarter had also declined. In retrospect, I think that was the reason that the stock began its descent. That was the harbinger of the bad news we got on Tuesday. It had nothing to do with support levels or resistance levels or double bottoms or head and shoulders or sup and saucers or crows sitting on a tree or dogs baying at the moon. It was due to a perception on the part of the investment community that sales would likely grow at a substantially lower rate then previously anticipated.
And when you said And then, worse: when, by the law of statistical inevitability, they hit it right, once, there's no stopping them, ever. I wanted to stand up and cheer. That explains why gc will continue to beat his chest for weeks to come.
Well, enough for now.
Melissa, will you ever forgive me <VBG>?
TTFN,
CTC
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