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Microcap & Penny Stocks : lcav
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To: alan hardy who wrote (605)1/10/1999 9:30:00 AM
From: Harry W. Lowe  Read Replies (2) of 942
 
Alan,

Technical analysis (TA) is an art not an exact science. The success of the practitioner of the art depends on his (her) skills and experience; also on the number and dependability of technical "tools" used. The story that these technical tools tell must be varied and of a confirming nature.

One main factor that I have found to be of major significance is that the stock under examination must have a large "float" with a large number of investors, and the factors governing the price movement must be spontaneous and of a random nature governed by the "fear" and "greed" of the investor. Whether or not the price of the stock is in a low, medium, or high range makes no difference (IMO). Bulletin Board (BB) stocks normally are not good candidates for TA because of the normally small float and low number of investors (and by the way, LCAV is not a BB stock).

I invest in or trade stocks that have predictable price movement through TA. When I find a stock that does not react well to price predictions obtained through TA, I just drop them from my watch list no matter how good their fundamentals.

In summary, I have found in my years of technical analysis that it is not the price of the stock that is of most importance, but the predictability of the movement in price and time.

Harry
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