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h00ts

46,840 Posts.

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31/08/16

08:55

Post #: 18811410
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Originally posted by redbacka ↑

Tuesday Evening Liqueurs. 30 August, 2016.

XJO up marginally, +0.17%. Volume was on the low side for a Tuesday. Not much movement - low volume. That is a slight negative bias.

Some days, I often think I am reading Tea Leaves in a Tea Cup (as the Fundamental Analysts like to criticise the Technical Analysts.)

In sideways markets, there's probably some truth to that. The markets keep on churning, and the Technical Analysts keeping on looking for clues - which, generally, are not forthcoming.

So - really - all we can do is look at the trend. Currently, it is sideways and back to support. Until we see a change from that situation, there's not much more to be said.

We wait and watch. Patience is a virtue.

By the way - I think the criticism made by the fundamental analysts of the technical analysts can also be made in the reverse direction. I often read Fundamental Analysis of this stock or that stock. Buy this, or sell that - and then I have a look at the chart. I wouldn't have a bar of the stock, one way or the other.

There are merits to both sides. But - if a FA writer takes a shine to a stock - and you look at the chart and it's in a down trend. Leave it alone. He could be right. In the long run. But TA will tell you if he is right or wrong.

RB.

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@redbacka - HI Red on topic with your comments today !!

- I dont know if you saw this about the SGH fall yesterday but I got a laugh out of it.

cheers hOOt

http://hotcopper.com.au/threads/cliches-for-days-like-today.2866338/?get_post=true#.V8YOZ_l95D8

Last edited by h00ts: 31/08/16
4 Upvote

0 Great analysis

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