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Biotech / Medical : Biotech - Technical Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jibacoa who wrote (78)	7/23/2001 10:30:47 PM
From: IRWIN JAMES FRANKEL	Read Replies (1) \| Respond to of 544

Hi Bernard, Some of my statements were "tongue-in-cheek". (You don't really need 6 degrees. <g>) But the message is clear: investing in stocks is very risky and difficult to master. I am an investing fundamentalist, by training an accountant and lawyer. I have read quite a bit on TA and find it unconvincing. I use AIQ and like it. But I will not put my money at risk on the basis of TA. Perhaps, I'm just brain dead. Some fine investors swear by TA. I do realize that many investors do look at the charts and they are clearly a component of the supply demand equation. So they are worthy of some consideration when making short term decisions. Jim_Pd at the SEPR CLUB is a TA/momentum investor. I have a fairly high regard for him. But I can't do what he does. But even he and others who read the tea leaves did not call the turn in SEPR, though they had ample opportunity. Some thought it would hit the teens. I could not argue the point. But I started buying at 28 and continued to the bottom at 24 and continued buying up to 32-33. I then stopped for a while and a few days ago bought more on a dip to 36.70. I believed the fundamental case was and is compelling. I could never develop that type of confidence in squiggles on paper. I have read of Jesse Livermore - but I'm not him. I do think we all have to develop our own approach, one we believe in and are willing to back with our money. If you can't do that - buy a mutual fund. If you are really good at TA - tell me where stocks are going before they do it. If you can do that consistently I'll reconsider my agnosticism toward TA. Kind regards, ij