Serious38, I agree almost completely with the article. Almost.
Big board stocks often are very active during trading days. I have watched TA fail repeatedly with those securities.
With the OTC securities, especially these pink sheet securities, there rarely is a lot of money trading them. No data centers packed with state-of-the-art computers calculating trades. It is almost always the average trader looking to make a better return than what banks offer.
And there lies the difference. So many OTC traders use the same tools with the same settings. When a buy or sell indicator on a chart is about to hit the average trader will turn the event into a self-fulfilling prophecy and act accordingly. So will many other traders. They make it happen, not a chart.
The only chart data I find useful in the OTC land is support, resistance and momentum (volume). News usually drives an OTC security one way or the other. However, there are exceptions to this. I am invested in one right now that all good news seems to do is guarantee another red day.
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