I understand what you are saying. My query concerned the extent (if any) this was more pronounced this time round compared to previously.
Regarding technical analysis, its not so much that I do not believe in it. More a case of that my bias is towards fundamental analysis and strategic behaviour. I still have regard to technical analysis, but its primacy is secondary to the other 2 factors. Hence why I tend to miss the sharp intra-day behaviour, but more often than not, get set in companies long before the market warms to them.
Some time back (early through 2003) when I was calling Telstra first down to $4.20 and then back up to topping out at under $5.00 ($4.90-4.95), my conditioning was set by my fundamental interpretation of available business and market information. Technical analysis then helped me to finetune my thinking.
So, there have been quite a number of occasions where I have actually stated what a price target should be, or where a particular stock was heading and to what price (etc). The point is each has its place. Its just a question of in what proportions (or in what balance).
