Technical Analysis #1 FUNDAMENTAL garbage
After being frustrated with CXR over and over again, the headline above is what
I am starting to believ in, more and more.
Look at ENDP. Revision of earnings from $5.50 down to $4.50 and the stock is $16 NOW.
That is around 3.5 times this years earnings. What a joke.
A stock who does $4.50 should be trading at least at $45 not $16.
Earnings are no longer important, it is technicals.
First and foremost, it is the technicals of the sector that is the most important before choosing
a stock in that sector.
Look at KXS, Kinaxis.
This stock will do .80 for the year 2016 and is now at $49!!.
They were supposed to do .16 in earnings this week and did .23 and stock went flying up.
No one cares that the PE is 60!.
Charts is what matters, UP is good and DOWN is bad.
People say, "in the long run, it all catches up to earnings".
I SAY, IN THE LONG RUN, WE ARE ALL DEAD!!!!!!!
I need results now not when I am dead.
CONCLUSION: I think we
have to look at charts and buy stocks at 52 week highs.
These are the ones with no resisitance and plenty of support.
We don't care for earnings or PE's/
From what I have seen this week, the higher the PE the better and vice versa.