William Armstrong

Looks Like an Intraday Double Top

I have finally had enough of this voodoo finance.

Intra-day double top? -- give me a break. Cumulative tick and advance?! My grandmother had that, but she lived a long life, because she didn't trade on the signals her disease was so personally sending her. Next you will be seeing the image of Fatima in your charts.

There is NO, repeat after me, NO evidence that reading entrails reveals patterns that have a predictive quality. Thousands of Phd students have proved this and it is written up for all to see in their theses and journal articles.

This kind of technical analysis is the alchemy of investors and bloggers who could not get in to a good B-school or get through the Graham, Dodd and Cottle Securities Analysis text without getting lost. Please spare us -- some of us are serious investors spending precious time looking for new information.