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Astex Pharmaceuticals, AŞ Message Board

  • billyteex1 billyteex1 Aug 28, 2006 12:57 PM Flag

    Even the technical guys

    Are starting to get it right. Wow will wonders never cease. Weren't they bashing it last week? That's right they have to get on board to claim there right in the future.

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    • Sorry some techinical guys were long. Don't mean to clump you all in the same group.

    • I started investing/trading some 30 years ago as a fundamental guy, but after a couple of colossally horrible trades based on S&P with PE ratios to screen the results, decided to try doing it a different way.

      Granville was spitting out book after book in those days with wisdom that still isn't out of date. He recounted chart after chart of price action vs PE ratios to show there was no correlation. Then story after story of a company CEO who knew everything to know about the company fundamentally who was famously & colossally wrong. I thought he was a god. He portrayed the fundamentalists and the technicians as the markets Hatfields & McCoys. And the Hatfields were losers.

      These days I use both. I usually look for at least 3 reasons to do a trade, at least one fundamental & at least one technical. I look for them to reinforce each other. If they don't, I don't take the trade. It's that simple.