OTCPK:TLSMF - Post by User
Comment by
cnaismiton Jan 22, 2006 12:42pm
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Post# 10222894
RE: Technical analysis ain't science
RE: Technical analysis ain't scienceWell like fundamentals - it's all in the skill of the viewer. Maybe Edwards and Magee would disagree with you that technical analysis does not work. Their text published back in 1948 dealing with charts has proved time over time to be accurate, providing of course that the chartist doesn't try to read things into a chart which are not there. As they say "the stock market goes right on repeating the same old movements in much the same old routine".
I'm sure that someone skilled in reading the values contained in annual reports and other information can sometimes make infomed decisions on an individual stock. One thing difficult for beginners to overcome is reading only the positive and neglecting the negative.
Patterns of course do not appear in all stocks and some patterns are more reliable that others