You may well be right. Appreciate that you arent ripping my head off with your posts, Im not saying I wont be back in, in fact maybe by tomorrow, my problem right now, FUNDS! :) I like TKC, but rules are rules, they save you more times than cost you, Im only learning more and more to be disciplined so with you prodding me to get back in you arent helping at all :)
You are misusing TA if you make a decision based on one indicator. The Stochastic is at 58 and moving up. MACD can have so many different sets of variables that it is almost meaningless to say MACD. My chart uses (8,17,9) for parameters and it is about to trigger a buy signal.
I see the move up in stochastics and I agree that could be the worm turning back. I really do like TKC. Right now Slow Stoch at 49 and MACD divergence at -.04 and trending up so Im thinking you are right. How do you use stochastics personally? Do you use MACD at all? To me if MACD and slow stoch are in line ie. both pos or neg, coupled with price volume action and great fundamentals are what it take for a stock to move. Your thoughts?
Please guess what you can do with your MACD analysis on TKC?
With the markets, it is all fundamentals and manipulation. Technical analysis only works when it is consistent with one of the former or the greater fool theory. Maybe you can have better luck observing the phases of the moon, tides or positions of the planets. Good luck in any case.
Hmmm, Im not down on TKC, in fact I LOVE the fundamentals of it, but while it didnt break below 24.50 it also didnt break any new high ground today on one heck of a day. Charts are useful and should be used unless of course you happen to be Warren Buffet, then go ahead and buy TKC and hang onto it for 30 years if thats what it takes for it to make money. Im just saying charts tell you market psychology and Im not interested in widows and orphans, just making money every day. Trust me, Ill be back in TKC as soon as it looks ripe
Boss, share the source of this divine inspiration: "Technical analysis only works when it is consistent..." if you please. TA is actually more fundamental than investing on fundamentals. Why? There is a number of TA corner-stone works that build groundwork before they ask the reader to take the leap of faith. Any one particular short sentence answer would not be able to answer the "why". Think of it as your 1st grade math book. Before you tell somebody that a^2 + 2ab + b^2 = (a + b) ^2 you really got to disuss what individual "+", "^", and symbols mean. Hence, before making the statement TA works only when it works, take some time to study its "bibles" -- you'll benefit youself first and formost.