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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Nazbuster who wrote (11533)	2/11/2001 12:46:45 AM
From: Chris	Respond to of 12039

for me, sometimes news will take over the ta signals. but regardless, if the news drops the stock below support, one has to stop out.

To: Nazbuster who wrote (11533)	2/11/2001 1:37:19 AM
From: Michael Watkins	Respond to of 12039

MacRandy, Do strict TA people ever let fundamentals creep into their thinking? We should have a poll! Strictly speaking, I do not. i.e. If a chart looks like its topping and exhibits the right signals, I'd sell it or short it without second guessing myself. Even the best companies top out from time to time. The reverse is true. And if a trend is happening, I'll wait for a retracement and get in, when it resumes, short or long depending on the direction of the trend. I just page through my charts of suspects plus any holdings and decide which needs to be sold, which bought, and what to stand aside on. A cynical outlook on the whole market system, lack of time to do fundamental research (although I do enjoy that, oddly enough), and a firm believe that most major events show up on the charts long before they hit Reuters, drove me to this place. I like it here. Comfy!

To: Nazbuster who wrote (11533)	2/11/2001 8:05:05 PM
From: Trader X	Respond to of 12039

Do TA people ever let fundamentals creep into their thinking? I was asked that same question back when INTC dropped 15 points in Sept. after they warned. I showed the person a chart and pointed out that it showed a warning of impending doom 7 trading days before the big drop. chart.bigcharts.com Seven days before the "news", INTC gapped down across $64 and spent the next 6 days trading back to that mark. At which point it slammed into the 50 day MA when the so-called news hit. what the chart is showing is that there were warnings by people who sold ahead of the news that could have been read on the chart. for this reason, I don't try to follow fundamentals. By the time news trickles down to me, I'm licking the bottom of a 15 point debacle. No thank you.