1. the mkts are a cesspool...fact...this thread is a cesspool...fact...everything I say on here is my opinion...fact.
2. this is a tech analysis thread...isnt a place for fundamentals...fundamentals only work during supercycle bull mkts...if it was based on simple metrics, then it would be hard to lose money as all you would need is to find co's with growing revenues and earnings...but as you know, when we enter a bear mkt, all stocks go down at once and nobody cares what their earnings are.
Prices are dictated by supply-demand ONLY.
3. If you want to learn the basic of finance, there are a million books and websites that can provide that...but we all know its all garbage...finance and trading are completely different.
4. It is my humble opinion that 90% of day traders lose money...this stat has been repeated by many others.
5. it is my strong opinion that if you blindly follow someones trading advice you will lose money.
6. plot of MSFT and CSCO for 10 yrs and what does this tell you?...unless you are lucky enough to find an AAPL or GOOG, gonna be tough when SPX hasnt gone up at all over the past 11 years...so are these normal times?
I have taken a stand and given my opinion on the mkts...I wont go into why...my job isnt to teach everything I know to strangers...I dont just spew out support resistant levels only...people will listen to who are accurate, that is all people care about really.
But to say things like " why is RIMM trading at these levels?..what are earnings doing?"...thats like learning to add and subtract while the ones you compete with are doing calculus...
...my word of advice, put money into metals and cash and keep IRA's in money mkts until 2 yrs from now...if you trade, use TA and cycles work...if you use fundamentals to trade this mkt, you will be in for a very unpleasant surprise next yr...so come back middle of next yr with the fundamentals pep talk, cant wait...
mom and pop are going to be very angry by end of next yr.
Lastly, nobody is saying TA is the end all for everything, just a technique, thats all...no better or worse than any other technique.