...Not really. Once again it's how you perceive your investment. If I were trading YMI I'd be darn sure I paid attention to TA even perhaps more so than the fundamentals of the company. Many an astute trader made mega millions trading stocks that in retrospect were simply shams...All we have to do is look back to the recent golden era of investor insanity..Enron...WorldCom...and a "zillion" high flying techs that were over 100 that have since crashed to virtually zero. William O'Neal made a fortune simply by telling people to buy stocks were they were going up and to sell them when they started going down (and then adding the simpleton 1-5 "timeliness" ratings just fo added mustard on the hot dog)!
You need to pay attention to TA because others out there do. Ironically, YMI would probably be a pretty good trading stock for a smaller investor. But for me trying to trade a large position in this stock would be difficult and as I said I'm in this one for the long pull...But someday when I do start to sell you betcha I'll be looking at those charts.
....Nope... I hold 50k shares at a 2.35 average...I didn't sell when it was 3.33 either. This stock IMHO is going well north of 10 and I want to be there for the ride. Like I said...I believe in fundamental analysis foremost...TA as an indicator primarily to buy or sell. But I trade certain stocks and hold certain stocks and this one is a definite hold for me. So I did not want to risk being out of my position even when it did break support. Too hard to buy back in size and with a company like this you never know when they're either going to announce some very exciting news or some bigger player gets smart and simply makes an offer for them...All IMHO of course...no pumping intended!
...Another nice move today (+3.8%) on heavy volume coupled with a nice close. We should test the $2.90 level shortly then move up over 3. We need to break out above $3.33 though for a confirmation of a true break out...