The message I was TRYING to get across was theta we are getting close to a break out on all fronts in NCM. Unfortunately, Gdennis seems to think that I view that as a sell, when in fact I think this is a buy, through that level. The bears are complacent now and expect resistance to hold, so, given that this is a gold stock, and POG is highly unpredictable, we should expect it to do the opposite.
In the argument over TA vs Fundamentals, it has been my experience over the last 30 years as an investor, that technicals point the way first, and tend to be the light in the gloom of a falling market, (or the canary in a rising one). Until recently, I was at a loss to understand why, but I think I now know. If we assume the market is made up of thousands of views regarding forward performance of a company like NCM, and if we also assume, nay, accept that we are never going to be the first person to detect a change in the fundamentals, then it is essentially an increasing number of investors turning from bear to bull that triggers a change in the charts. So whether you are one of the early birds to catch the worm so to speak, or you are simply looking to detect a change in the weight of money via the charts, the earlier you get that signal, the more profitable your investment will become. I guess we are all looking for an edge, and if charts give us that edge, before the fundamentals become obvious, then I'm all for it. I bought my first NCM in five years last month at $7.70. TA kept me from losing $29 on the way down, and got me in within $1 of the multi year lows. TA has also kept me in to date, signalled me to increase my position on 4 separate occasions and a break of $1168 on a closing basis, will signal me to add again. I'd say so far, TA has served me well.....
NCM Price at posting:
$11.43 Sentiment: Buy Disclosure: Held
