re: american bulls - computer ta LOOKsmart is struggling to stay above US$3 at 3.30pm so American Bulls warning of a short term pullback in a long term uptrend was correct this time. $3 equals 25.46c at the current rate of exchange.
The short term technical analysis by computer seems to be better at predicting imminent weakness than imminent strength. That figures because LOOK's rises usually coincide with unpredictable announcements whereas lately sentiment which is predictable moves the stock down.
I've been struggling to understand where technical analysis fits in. I feel TA works slightly different for different stocks. Wish we had an Australian Bulls.
LOK
looksmart limited
