That Chartists are price-takers I cannot argue with. However, I think it would be more correct to say that "anyone can think they are are a chartist" or "anyone can claim to be a chartist", especially if they prefer to turn a blind eye to their actual long-term results. Long-standing profitable technical trading is as hard and time-consuming to master as any of the fundamentals. But anyone can join tops with lines so it's the lowest barrier to entry for fooling oneself. In my opinion, great respect is due to the great traders/chartists of the past and present (such as Peter Brandt, who has a track record of 41.6% average annual return over 30 years). Few great fundamental investors do not make use of charting wisdom in some form or fashion.
All said though, arguments that are still debated for decades are unlikely to find resolution on a HotCopper thread.
Good luck with your analysis and I hope you are magnificently successful.
ADT Price at posting:
45.0¢ Sentiment: Hold Disclosure: Held
