I feel that some here have completely missed my point. I was not suggesting that TA was not a tool that traders and investors used. But it most certainly has limited application in my opinion for a news driven company who’s share price can be moved at an accelerated rate based on significant news or just on the company’s ability to reach shareholders. There would rarely be news of significance that is produced by large cap companies that could move the needle to the degree that POET could have. Large caps have a very large following and their movement is based on well studied earning projections so yes TA is extremely important tool for investors to use for those companies.
So yes there is some room for TA and we do in fact use it often without knowing it for microcap companies. That being said my point was the example of using TA and pointing to the signal it provides is fine. I argued against it as did many here. But when the originator combines this anaysis with statements like I have sold all my share and maybe this stock will never get above $1.75 in my book that is not fine and not something people should be promoting on this forum. Evidence based information about the market that would suggest the size of the market that POET can impact and deriving share price prediction based on information such as what was provided by the company in the Pelegrino Report is in my opinion acceptable. Saying that this company may never trade above $1.75 again is saying that this company may fail completely to have any kind of product ever in the market. That to me that has no room on this forum. And to invite those kinds of remarks is not what this forum is for.
Time to get outside again and enjoy the heat which of course requires the moderating effect of beer plus the occasion jump into the pool.
Enjoy the day.
