Short term, long term even a quick trade DD is needed so you know what you have your money into.
We might feel that way, but I well understand and sympathize with the other POV: the daily market moves too quickly for DD, and besides, it's all about charts/technicals not what the company actually does.
Last year someone was surprised when I told him that COSI was a restaurant chain that I'd actually eaten in, and Hooper Holmes (HH) was not a homebuilder but instead a healthcare firm. But what's the dif, he certainly could have made good money off of both, perhaps more than I did.