Charts tend to work. Lots of reasons for that... not least among them being that perception of the odds, with perception being a function of human behavior, will tend to require they do... in the same way that inertia tends to dominate many choices in many things other than the market.
A weekend is upon us. Did you get around to mowing the lawn, yet ? Or, still wasting time here, chatting on IHub... fully engaged in that inertia sink ? LOL!!!
Trends tend to continue... until they don't. (Wife walks in... "mow the friggin lawn already"... walks out). And that is about all the way to that limit you can't reasonably pass in claiming any statistical validity in charting.
But, claiming you know what "the catalyst" will be... That is as valid as claiming you know precisely, in advance, when "the trend" in any chart will change... isn't it...
You don't know... to any certainty... which is why it is in the least bit interesting to address it. If you already knew the future, so would everyone else, and how boring would that be ?
Charts are patterns in NOISE... They CAN be influenced by purposeful efforts to "paint" them... for purpose... to entrain others in slavishly following them, and it happens all the time.
I agree with you on the fundamentals. Charts don't trump fundamental changes... fundamental changes can, and often do, change the trends in charts... and that is more likely the more EXTENDED to OVEREXTENDED an existing pattern on a chart is... requiring LESS to change it... and MORE to have it be sustained.
Won't take much, here, to change the chart trends, IMO.
VERY little...
So, trying to push the idea the threshold in what is required to get anyone in the market to think about SRSR now... is absurd...
The excitement here this week, disproves that...
The fact that the ONLY threshold required to met, is an already overdue shift in chart patterns... I guess that is too obvious to mention as one of the "things on a list" of "more than two" which might matter ?
As I don't confuse the current share price, or the patterns in charts, with value... I also won't think SRSR is worth more... because the pattern reverses ?
Value is value. Price... is price.
I buy value I find as a result of doing my DD... at good prices... which occur on days the market puts shares on sale. I do know price is determined by what I see in the market, by what others choose to do, not by my analysis of my own effort in DD, which seems likely to be work that others haven't done, and thus don't see when they make their choices.
Fundamental investing... works... which doesn't mean investors don't need trading skills... and a bit of market savvy, which, IMO, means keeping dry powder... and knowing when and how best to use it.
So... I'll try to break the trend... and get off my butt, after making this my last post today... By which I mean it is beer time. The lawn will have to wait. That bit of inertia sustains a trend that shall remain intact... for now.
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