In the final analysis fundamentals will win out. I am a TA guy all the way, but the reality (for me) is that it's hard to know when the fundamentals are real and when they're not. Not just about an individual stock but about the market in general. I probably have told the Enron story here before so if you've read it bear with me. I was a foreign institutional broker during the Enron days and many of the fundamental analysts LOVED Enron. What was there not to love when you looked at the fundamentals. But the chart said no no no. I mean EVERYTHING, bands, waves, moving averages, (I didn't know about clouds then but I'm sure they were dark as well)...anyway a bank I dealt with in Iceland loved the stock and bought bought bought. I begged them to stop buying but they poo poo'd my technical analysis (some of the traders did, a couple of them listened because of some previous calls) The point and figure counts on Enron were to 0 which sounded as ridiculous at the time as SRSR having point and figure counts right now to $31.44.
Bottom line is Enron went broke because the fundamentals were false and the books were cooked, many traders got fired, and the bank lost a couple million dollars.
So I will believe in charts always to tell me which way to go. But in my opinion they will prove or disprove the fundamentals in the final analysis.
Now here we are in pinkyland where fundamentals are more difficult to go by. One thing I like to look at is insider buying to give me confidence in a company (discounting options) in pinkyland you seldom have that. You also don't have the rules of the road that you have with listed stocks so more shannanagans can take place and usually do in pinkyland because we all know that 90% of these guys are scams and or go broke or reverse split or both.
Right now most of what I look at in TA is looking good for SRSR. A few months ago when it was below .09 I was on the fence and didn't know if we'd make a double top at .09 and come back down or pop through. We slammed through and now look better than ever. BUT can we come down to .04 and test the 200 day ma? Anything is possible and for those who have been believers in the fundamentals since the basement they are happy campers for sure. As for me I am a believer in the TA's because of the disasters they can allow me to avoid as much as for the money it can allow me to make.
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