Amazing how these technical idiots are always wrong. I mean you would think baseless guesses
would be right half the time. But out of the tenis of thousands of posts from these nimrods I've seen over the years, they are wrong more like 5 to 1. i.e the posts celebrating the move over $80 means the stock is going to fly. Needless to say I will look forward to the upcoming dip to add to my core position, because we will see a 77 dollar handle before we see 82, you can count on that.
Agree. The technical idiots have been predicting a rise to the MOON for GILD recently. Based upon...what...NOTHING ! THe stock is FAIRLY valued right now, and anybody putting money in here is taking huge risks. Good post. I commend you. THe stock is "tired", having run from 64 to 80+. It is due for a pause.
"There is at least a 50% chance you will be correct."
There's at least a 96% chance you will be correct if you buy a good stock and hold onto it no matter what the market is doing.
Warren Buffett spoke about this a couple of decades ago in an address to his Alma Mater Columbia University Business School. His speech was about the fiftieth anniversary of Benjamin Graham's "Security Analysis". Beffett discussed how he and several other people had followed Graham's principles and did a lot better than the general market.
OK. But if everybody did this would it no longer work?
Buffett answered: "The secret has been out fifty years and there's no sign a lot of people are using it."