My friend, i started trading in 1995. I bought every book that was recommended and every system that was recommended. I literally lost my sight studying and practicing all the strategies i learned. Until i used common sense and put different pieces together, i lost. It might be different for you but ask most of these so called technicians how much money they made last year and if they tell you the truth they will tell you that they lost. I now trade mostly options...vertical spreads, horizantal spreads and i am making money but most of those books are theoretical.
Some technical traders use volume and price action. In this case there was a low of 71 from a few weeks ago on heavy trading volume. That low was tested yesterday roughly (71.24) on much lighter volume, then bounced. This should indicate that the downtrend was broken, for now. I am looking at a daily chart. Like all trading methods this is only effective part of the time. Some automated trading programs incorporate this type of technical analysis to generate buy and sell signals. That's it.
One family won $4.9billion from GM when their 10year old Malibu was rear-ended at a trafic light by a 60mph drunk and car ignited because GM didn't use gas tank cover.
Imagine what TM will loose with $44 billion cash
Funny how many Detroit autos have rupturing gas tanks upon impact.
This should tell you all something. A simple bladder can solve the problem.
But the cost of the UAW forbids such a luxury in a Detroit car.