RE:RE:FactsYeah, I'd have to agree with the quoted observation. I'm not disputing the fact that the charts "look" incredibly bearish, but I continue to hold (note, not adding/but not selling here either).
As for technical analysts, take them with a grain of salt.... after all, these were the technodweebs who were advising all of their clients to buy
more Facebook at over $200.... and why? Because Facebook had just punched through so-called resistance to the upside.
Now... 2 days after FB's earnings, and the >20% stockprice decline... are any of these technodweebs planning to give anyone their money back for handing out such awful advice about Facebook? Anyone ?
So, yeah, charts look bearish - but honestly, don't ask a technical analyst for advice about the fundamentals of a company... just don't! These guys only look at a chart and then try to make predictions from a picture... no different from running out and relying on advice from Madame Wu and her magic crystal ball.
Just remember, Technical Analysts were jumping all over themselves the other day, trying to tell everyone what a great buy Facebook was !!!
LuckyLuch wrote: You think that stuttering, stumbling buffoon was impressive? He's a technical analysts...chart looks awful...so what??? It's summer in Canada, low vol, no bids, almost zero blocks going up...meaningless.
The chart in 2015/2016 looked equally as horrendous but those of us who gots a pair, held our noses, grabbed the ballz and took positions under 1 and made a fortune.
Also, big diff from Jan 2016...WTI aint $26 but rather $69 and heading signifigantly higher.
Son, u got to do better than this.
CaptainConn wrote: https://www.bnnbloomberg.ca/video/jeff-parent-discusses-trican-well-services~1449380
Truer words have not been spoken. I can't stop laughing. He is even more bearish than me!