on the close., page-17

I don't get your last statement. Do you actually believe it? I.e. you are considering buying a stock which has a share price of say $1. You ask yourself, is this share worth $1?  Then, applying your last statement, you notice that the SP is $1 so it must be worth $1 so BUY. Not very helpful, if you see where I'm coming from.

I, myself, take a fundamental approach which is along the lines of "a company's value was the sum of the discounted future cash flows" which is why I'm so interested in seeing the BFS and in the absence of that use the PFS to get a handle of the share's fundamental value.  Then, if a share is priced under its fundamental value (with a safety margin) it becomes a BUY and if it is priced above its fundamental value it is a SELL.