pumpdestroyer ---- More answers to your statement about TA for pinks being a joke:
Posted by: pennies2007
In reply to: Gmenfan who wrote msg# 13166 Date:4/6/2008 5:25:59 PM
Post #of 13218
I'd have to disagree with that statement. My question would be this...if they don't use TA, what method do they use to trade penny stocks? There are three I can think of...fundamentals, guesswork, and manipulation.
You certainly can't depend on fundamentals for penny stocks. You may find an occasional penny stock out there that will run based on fundamentals but those are few and far between.
Guesswork...that's like playing russian roulette with five of the six barrels loaded. No sensible person would do that.
Manipulation...that's certainly a strong possibility in most penny stocks. I know many big players that can throw enough money into a penny stock and make it go any direction they choose. I personally have a moral objection to that method. That's deliberate misdirection to gain profit. Don't want any part of that.
I trade mostly big board stocks now but when I do trade penny stocks, it's TA all the way. For that matter, I only use TA on big boards as well. I don't care anything about what the company is doing. Many times, I don't even know the full company name...it's just a ticker symbol and a chart to me.
Finally, consider the source the statement is coming from. Your post comes from someone who has a free account and 1 person mark...not really a dependable source from what I can see. He's been a member since May 2007, yet has only 56 posts. All of his posts except for one have been on the SPOOZ board. Looks like you've got nothing more on your hands than a typical basher.
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Posted by: hangfire
In reply to: Gmenfan who wrote msg# 13166 Date:4/6/2008 6:02:31 PM
Post #of 13218
Statements about T/A not working on certain stocks, or scenarios, are usually made by people who don't understand T/A and chart pattern recognition!
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Posted by: redsoxnumba1
In reply to: Gmenfan who wrote msg# 13166 Date:4/6/2008 6:45:15 PM
Post #of 13218
All i can say is to check my account balances.
They have been growing very well thanks to Technical Analysis.
Anyone who thinks it doesn't work with penny stocks, pinks or OTC has no idea of what they speak.
If anyone wants to question it, all they need to do is look at the charts he moderators here put up and follow where we think the stock is going.
We are right WAYYYY more often than we are wrong. Certainly not 100 but definetly in the 85-90 percent range.
One of the problems that I have encountered, is amatuers...peopel who try to make teh chart look like what they WANT to see rather than for what it actually is...
AI
