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  1. Carmen maynard says:

    As a Ben graham accolyte early in my career i was disdainful of techNical analysis AND THOUGHT It about as useful as astrology. On the plane going to a pension fund reportback i told my boss how bullish i was becoming about a specific stock. He listened PATIENTLY, OCCASIONALLY asking fundamental questions. i stuck to my guns. As we were about to land he pulled out a chartbook and said “before you call a buy, check the chart. Your sTock is looking terriblY toppish, maybe you are missing something”. And i was. Moral of tHe story: charts have no real predictive power but they do tell a story of what is happening in the market and warn You That something is happening that You need to conSider, like a breakout Of an established trend. Useful, too, for screening The market for such opportunities. Don’t worry about embracing “strange things” david. Whatever helps.

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