Biotech2010, let me respond to your criticism.
I stopped reading your post after the first 2 criticisms because of how naive they were, but I'll respond to those two.
The first thing you did was what a lot of people who don't understand technical analysis do, they will find one single forecast that showed a price action movement that was 'proven incorrect', and use that as their argument, that TA doesn't work, or the analyst doesnt understand how to do it.
If this forum was a place to study and learn technical analysis, I could take the time to explain to you how TA works, how correct analysis should be viewed, when analyzing price action.
It takes about 3 or 4 years of study to become very skilled at technical analysis.
But many times, I have seen those who don't understand TA, use this tactic to try and discredit someones analysis of a moment in time where price action and chart patterns were showing that picture. That picture was accurate technically at that time. But price action can make reversals, and changes, and forecasts can end up 'being confirmed incorrect'. It doesn't necessarily mean the analysis was incorrect or incorrectly done. This is the mistake in thinking that people (like you and CM) make when they take a past analysis out of time context and now in hindsight it looks like a gross mistake.
Its an easy and simple way to attack a technical analyst. see how much effort it takes just to respond to the misguided slam.
Whenever I read peoples posts attacking someone's TA, it never fails that they go and find an old forecast that turned out wrong.
If I wanted to present my scorecard for GALT analysis....it would probably be shown as 90 % on target.
So really, it's pretty lame to see you try and present some case for denigrating my TA .
The second slam I read was when you said... " You keep positioning yourself as an expert on a company..."
No ,I don't. I Never have said that I was an expert on the fundamentals of GALT. In fact many times I have stated that I Don't know how to analyze fundamentals. That's why I come to IHUB, to read the FA of other folks.
But I can claim to be an expert on Technical Analysis. Because I am. and my record of TA here on GALT speaks for itself. and I actually don't toot my own horn very much at all. I'm not interested in that.
I have 2 adversaries here. You and Chess Master. and it seems to me like both of you are ignorant of how to do and understand TA.
BUT...I do see that both of you Do have good understanding of Fundamental analysis, and that is what I'm interested in gaining from. I find it very perplexing that apparently intelligent people in understanding fundamental analysis , can be so ignorant of technical analysis. Its strange. stranger still, when they fail to appreciate the expertise of someone who does understand TA, but I guess that's life. In any case I appreciate your fundamental knowledge.
I firmly believe that good investment analysis requires BOTH TA and FA. and anyone who fails to understand the value of both just diminishes the value of what they do have to offer as a fundamental analyst.
A wise investor would seek to understand both.
I value your fundamental analysis, and CM's, as I just said in my last post.
You guys can ignore me and ignore TA if you like. Doesn't matter to me.
I'm sorry I had to waste one of my 15 free posts defending myself here.
I wish you all the best. and I encourage you and everyone to take the time to learn and really understand TA. But I understand if folks don't have 3 years to spend on it. I feel that way about learning FA. That's why I value the fundamental analysis of others.
I'll leave you with a few questions I'm interested in.
Did you see this collapse down to 10 dollars coming ? or were you shocked and surprised?
Did you think that 19 area was a 'top zone' and price would pullback from there?
Did you buy more shares at 10?
Do you have a fundamental top price target for GALT ? Ive heard some folks say around 30 dollars? I'm interested to know your thoughts as always.
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