one for the TA folks on this board...
First of all, I should say that I don't put much faith in the TA side of investing... use some but most is greek to me.
Take this one for example;
Looks like something may be in the works here. PPRO has been consolidating for some time now and has formed a descending triangle pattern. Today PPRO formed a doji right at the center of the pattern. This often precludes a breakout. It appears that the breakout ( if it occurs ) will be of a Bullish nature, given the position of the Stochastic indicator. However, what I don't like about the whole thing is that here we are moving into Q1-02 earnings preannouncements next week and PPRO still hasn't even announced a date for release of Q4-01 earnings.
...There are times when this has the feeling of astrology to me!
Can someone help in my understanding?
...truth is the more I *know* about TA the funnier it all seems IMO ... the self prophecy issues in that if many follow this *science* then what they *predict* will come to be or the indicators will be read by all (at least similarly) triggering buy or sells based on the TA, am I making sense?
So as of late I have been looking at it differenly... "if you can't beat 'em - join 'em" so your help is most appreciated and will (I think) help.
best!
kp
"To accomplish great things we must not only act,
but also dream;
not only plan, but also believe."
"When you look at things differently,
things look different"
--Wayne Dyer--
AI
