davidjohnhall

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Tue Jan 8th 14:21 PM | Rating: 0 0
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Why Technical Analysis is Nonsense

Me thinks the prince has become a frog!

Basing your own ideas on what fund managers are doing is no better than a technical trader basing his ideas on Charle's Dow's thoughts of past and current (not future) price action. I might be a little crazy here, but I'll take the opinion of Chalres Dow for now.

That's Chalres Dow of...Dow Jones.

Truth is, most (if not all) retail traders aren't having lunch with hedge fund managers and hardly ever get the right story from the buy side driven news and analyst recomendation. But they sure can tell when price is taking a swan dive...or riding up on strength.

As for those stocks that are trading sideways...we'll leave those for the fundamental value traders to accumulate in their bases. And we'll meet you at the breakout!

Buy the rumor sell the news. Isn't that what they say? Based on what I've just read I will be shorting your opinion.

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