my one, not sure what to call it, annoyance I have with the
Fool's is that they have put out tons of articles on the so called
'random walk' where they try to totally debunk technical analysis,
saying it's all crystal balls and made up stuff from fortune
tellers. They say there are no repeatable patterns and anyone
drawing trendlines or looking at RSI are just seeing patterns where
there are none, which is called Apophenia. In fact they are
overly aggressive at trying to point out how Technical Analysis is
BS, which erks me and I'm sure a few of you as well. Again I take
NOTHING away from their fundamental research, by there's no reason
to attack technical analysis the way they do. Most of you
know who have looked at 1000's of charts, it's obvious there are
repeatable patterns and you can roughly guess what a stock or index
may do short term based on the chart. If the SPX sells off 10
days in a row, is it really voodo science that odds favor a bounce?
that's just common sense. If a stock has repeatedly hit $10 and
pulled off that price 4 times over the last 3 months, is it voodoo
science that you could call $10 a resistance level?
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my one, not sure what
zs, crwd, estc all up +8% on earnings, all motley ...
Posted by matt on 3rd of Dec 2020 at 10:32 am
my one, not sure what to call it, annoyance I have with the Fool's is that they have put out tons of articles on the so called 'random walk' where they try to totally debunk technical analysis, saying it's all crystal balls and made up stuff from fortune tellers. They say there are no repeatable patterns and anyone drawing trendlines or looking at RSI are just seeing patterns where there are none, which is called Apophenia. In fact they are overly aggressive at trying to point out how Technical Analysis is BS, which erks me and I'm sure a few of you as well. Again I take NOTHING away from their fundamental research, by there's no reason to attack technical analysis the way they do. Most of you know who have looked at 1000's of charts, it's obvious there are repeatable patterns and you can roughly guess what a stock or index may do short term based on the chart. If the SPX sells off 10 days in a row, is it really voodo science that odds favor a bounce? that's just common sense. If a stock has repeatedly hit $10 and pulled off that price 4 times over the last 3 months, is it voodoo science that you could call $10 a resistance level?