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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Helios who wrote (11004)	12/16/1997 9:51:00 PM
From: Zoltan!	Respond to of 77400

Thanks for that. I know he can easily be nailed if you start throwing his own words at him. But then again, he said "I don't recall", so it really depends on how sottish he was/is. Regards

To: Helios who wrote (11004)	12/17/1997 8:43:00 PM
From: sepku	Read Replies (1) \| Respond to of 77400

>>>On the contrary, when Cisco hit 85 you said you would study the charts before shorting it. <<< Looking at the charts is the only way I know of to observe the historical performance of a stock. That doesn't mean I'm analyzing the chart and trying to make out shapes in the clouds. The only TA that I use, are those indicators that are based upon crowd psychology -- dma, support, and resistance, are a few examples. The rest of that noise that entails finding shapes in graphs (flags, pennants, h&s, etc.) I leave to the technical wizards who happen to think it works...I'm starting to think they're just using it as a sort of self-therapy to convince themselves that they have an idea of what a stock is going to do. But psychology and emotions (fear/greed) are well acknowledged factors that drive the market -- so I pay heed to them. And even then, I believe that the accuracy of these indicators are greater the shorter the time frame. After that, fundamentals and macro-economic factors destroy their usefulness. Which is why canned TA programs that spit out numbers are garbage, and analysts are always changing their minds every other month. Mostly I prefer fundamentals/valuations. But for day trading it's only real-time intraday charts -- fundamentals are rendered useless. Style Pts.