As far as charts go, a chart can always tell you what has happened. It can't always tell you what will happen.
As one mutual fund analyst told me about charts: they represent perfect information. A change in the price also represents perfect information, only you don't always know what that information is.
Anyone can perform their so called due diligence. Checking prices for refrigerators is a form of due diligence. Examining a restaurant menu is a form of due diligence.
When it comes to due diligence for stocks, there is a distinct and extremely wide and deep chasm concerning conducting due diligence on, for example, International Business Machines (IBM) and pink sheet and OTC:BB stocks.
I agree, the overwhelming majority of pink sheet and OTC:BB public traded companies produce no revenues of significance. All you're really doing is buying into an idea or concept.
Just about any parabolic price advance I've witnessed and participated in after nearly 35 years has been based on hype and emotion.
I was fortunate to get in early. As Jim Rogers, the famous commodities speculator, once said, “it's always better to be a little early than a little late.”
Yes, certainly, those who have been fortunate to get in early want the hype and emotion to continue for as long as possible.
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