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

To: ExCane who wrote (7847)	1/17/1998 2:14:00 PM
From: Richard Estes	Read Replies (1) \| Respond to of 12039

I look at funnymentals as icing on the cake. It is nice to see earnings growth, IBD EPS>80 to convince someone to buy it at a higher price. But I have never seen anything in funnymentals to correlate with price movement. Group strength does mean something, based on price. Analysts don't know the difference between shinola and ...., so that might mean you should stay away from it. you say chart looks like a buy, for what period of time and why? I think bottom is about 23 right now, but time changes things. Who knows? Personally, I don't like to know anymore about a stock than the chart,and IBD rankings. Most often I don't know what company does. When you begin to let externals get in your mind like news and what someone says the wimps of wall street are doing, you take your eye off prize -- PRICE.

To: ExCane who wrote (7847)	1/17/1998 2:51:00 PM
From: Chandler H. Everett	Read Replies (2) \| Respond to of 12039

Alex......I will usually check the industry grouping of a stock that I want to trade as I can get them from my TC2000 download. I'll look at a weekly chart on the industry group with a 55,13,3 stochastic to see where we are on a longer term basis. As to the fundamentals, I'm in the investment business and have people in my firm who look at that, but as an ex-corporate treasurer who was told that i would be fired if I told the truth to security analysts, I don't out much faith in them. As someone here said, the real inside information is found in the price action of a stock, not the "story" that is always changing. BW Chan