I come here to the Fool from a purely Technical background.Long ago I lost so many tons of coins on stocks that fell through fantastic earnings reports, dropped 50% in one second, and refused to climb when I had done all that darn research and knew that the Fundamentals were PERFECT, that I gave up on EVER buying a stock due to its fundamentals.There is nothing quite so shattering as a 1000% loss.So I have bought and sold stocks for the past 6 years using only Technicals.There is nothing quite so shattering as a 1000% loss.Now that I have added the two disciplines together, thanks to the knowledge gleaned from the Motley Fool's postings, I'm doing much better; thank you very much.What I find fascinating is that Fundamentalists are willing to commit all of their capital at one particular point in time. They assume that Tom Gardner or some other expert can read a chart, and that a newsletter composed last month is still relevant this month! (This is not to say that Tom Gardner doesn't read charts, I'm sure he does this little function just fine.)What I have found is that it really doesn't matter what stock you buy, but the timing of the buy is extremely important.EVERY stock has a point where a profit will be made. (On some stocks it may only last 5 seconds).One of you owns TACT at the $30 level. I admire your ability to withstand pain. All of you Please do yourselves a favor and take a Technical Charting course.Tom Gardner has done his due diligence on this stock, and his words are true. This stock will probably become a very fine long term holding.(I say probably, because in case you haven't noticed, nothing in the Stock Market is for sure).It's a jungle out there. The Elephant is King, and unfortunately timing is everything.EVERYTHING!This stock is going to perform a stunning reversal, starting with its next earnings report which is due out in a few days. It may go up like a shot, it may creep up, it may run up. All I know, from a Purely Technical standpoint, is that it is going to go up.What is distressing to me is that the reason that the stock is going to do this is buried in an almost unused tool of Charting. That's correct. My opininon is based soley on Technicals. Purely Technical Phenomenons do not exist here at the Fool.I cannot incorporate it into this posting for you, so you'll have to take my word on it. And I make lots of mistakes and I'm wrong a lot, just like any other human. If you wish to examine my credentials, look for my by-line in the Public Charts section of Stockcharts.com where the members post their fancy charts. I'll have a posting there on this stock.The visual Phenomenon that I'm talking about is not fully supported by Stockcharts, so I still can't show you why I believe what I believe.My charts are quite simple tho. I use them to make money.Yours Fooly;Dave Knecht
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra