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Strategies & Market Trends : Technical Analysis - Beginners

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To: Richard Estes who wrote (8949)	11/21/1998 3:48:00 PM
From: Brian C. Lund	Read Replies (1) of 12039

Following up on the heels of a previous post. Want to see what happens when rationalizations go wild, check out the Yahoo messages thread for BEAS. Then go and check the one for OXHP starting on 10/27/97, the day it lost about 65% of it's vaule. Each thread is almost a mirror image of each other. Over a year later, OXHP is about 60% lower than the day it lost 65% of its value. Who knows, BEAS may rebound tomorrow, but that is not the point. The point is that people are running around like chickens with their heads cut, coming up with various reasons that the drop is not valid, how the stock will double in a month, and why a stock that lost 50% in one day is "a buy at these levels." It really is scarry when the myth of "stocks always go up" gets punctured. It is also REALLY scarry as to how many people out there have no knowledge of TA and invest with ABSOLUTELY NO PLAN OR OBJECTIVE CRIETERIA FOR THEIR ENTRIES AND EXITS. These people are the ones who will get killed when this extraordinary bull market ends some day (and it will end some day). BCL

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