Tuesday, October 20, 2015 9:53:19 AM
Analysts have commented on the current downturn in pharma stocks and suggested the pullback has been exacerbated by those engaged in high frequency trading and who focus on chart patterns, not fundamentals. The problem is that, while the chart patterns in the sector do not look good, many of the companies are strong financially and their science is sound. (Their chart analysis may reflect the “Texas Sharpshooters Fallacy” https://en.wikipedia.org/wiki/Texas_sharpshooter_fallacy) Then there is the link below that supports the argument that short-term price news is of greatest importance to traders, while it only matters to investors on two occasions; when they buy and when they sell. The link is a good read and I would not insult anyone by quoting what they can read for themselves…
http://stocks.about.com/od/evaluatingstocks/a/2013-08-07-Stock-Value-And-Price-Are-Not-The-Same.htm
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