Hi Diddy, he probably has some good points but fails to look at it fully. For example he mentions how fundamental analysis examines things like future discounted cash flows etc to determine what something may be worth in the future.
So these fundamental analysts then take a position. Then let’s combine thousands of these fundamental analyst all making their own determination on value and position thus causing price and volume movements.
I believe he incorrectly argues that TA is using past price to determine future price, when in fact what it is doing is trying to monitor what everyone else is thinking as indicated by what bets they are placing, thus creating trends.
Just my thoughts on it though and he has all those computers to back him up, lol.
So perhaps TA is simply monitoring whatever his programs do along with the rest of the market participants.
Anyway based on his other comments it was lucky I have popped up long term charts regularly, I guess long term charts are representative of more data.
AGL Price at posting:
$8.62 Sentiment: None Disclosure: Held
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