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

To: JEB who wrote (238)	3/22/2002 12:28:13 AM
From: Tomato	Read Replies (1) \| Respond to of 544

A pure technician wouldn't agree. E.g. I put a lot of stock (no pun intended) on Gary B. Smith, and he and a lot of other technicians take the position that the fundamentals are discounted in the charts already. I tend to agree, although I'd make an exception for mergers, e.g. if stock goes up 50% to $150 based on a proposed buyout at $150, I would find the news relevant and wouldn't buy based on a bullish chart. But earnings, analysts upgrades or downgrades--I wouldn't let that affect the technical reading.