Bud and everyone,
The problem I have with "technical analysis" is that 90% of the time it appears in discussion, it is simply a justification for lower prices.
This is not only true here, but on any stock board.
To many stock board readers, "technical analysis" is the equivalent of medicine man / hoodoo magic. I serves no purpose other than inciting fear, to aid a short, or to get someone in a stock cheaper.
For this reason, I immediately question the intent of the person initiating the TA discussion. Yes, and in about the majority of cases, that person has a bearish agenda, and is not a friend of the stock.
TA is a great way to justify why a stock should decline to near zero, without any other justification other than "if the stock hits X price, it is almost certain to hit Y price, which will cause a flood of sellers to Z price, etc.
IMHO - Tomcat
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