HandsOn

Santa Cruz and cgaros

rascfw — Mon, 14 Jul 2008 02:00:44 GMT

Thanks, Santa Cruz! I too like your Barchart.com page much better than mine --I like how yours show the signals' change in strength. Being presented in greater detail makes the Barchart.com data much easier to understand.

cgaros, I'd like to respond to your negative take on reading charts. I wish you would reconsider. Although I find trying to read charts fascinating, I am not a daytrader. Reading charts, technical analysis or anything along those lines might appear to be just some sort of voodoo science, but I do believe --at the very least-- that charts have great validity in projecting nearterm patterns. Investors like you and I would find that a useful tool in determining when to buy or sell an investment. Not trading the investments, but in picking our entry and exit points. Especially in lovely market environments like now.

Also, cgaros, I agree with Santa Cruz. Why don't you join our HandsOn contest for 2009 and show us how well you can do? You don't have to trade, you know. You can just invest for the longterm in a few chosen stocks, OEFs, ETFs, CEFs or even options. When would you have to invest? Whenever you want .... beginning of 2009, monthly, midyear, December 2009. Your decision, your choice as to when and how much. For example, here's my HO contest portfolio for cob 7/11/08:

cash $50,707.84
82 shares DIA @ 111 $9,102.00
1,809 shares HMY @ 12.19 $22,051.71
340 shares UDN @ 29.70 $10,098.00
438 shares UUP @ 22.33 $9,780.54
7/11/2008 total portfolio value $101,740.09

I'll be the first one to admit that being up +1.74% YTD is no great shakes. However, considering that ALL of the domestic stock indices except energy and ALL of the foreign equity indices are in the red, I think my +1.74% YTD isn't too shabby, either.

Regards,
Susan

Re: reading charts... channeling, trends, etc

Santa Cruz — Sun, 13 Jul 2008 05:23:34 GMT

Hey Susan,

I like this barcharts page better

Re: reading charts... channeling, trends, etc

Santa Cruz — Sun, 13 Jul 2008 05:18:09 GMT

Hey cgaros,

I do not know if you noticed but the hands on has a contest.

The next one starts in Jan 1 2009. So enter and show us how it is done.

Re: reading charts... channeling, trends, etc

cgaros — Sun, 13 Jul 2008 04:48:45 GMT

I don't know why people persist in trying to read charts. If there is any information to be gained from a chart of past prices, it is:

1. of short-term use

2. mathematically-driven

3. past-pattern-driven

4. indicative of small-percentage information

This is PRECISELY the kind of information on which professional traders are excellent at executing, which means that if you try to play this game you are competing with those who specialize in it and likely have more information at their fingertips, better mathematical understanding, and better access to short-term trading resources. You're giving away your advantages as an amateur investor, which are:

1. long time-frame.

2. no need to trade frequently in order to justify one's existence.

3. ability to research the fundamentals and forward prospects of a small group of companies rather than engaging in complex mathematical schemes to discern facts about the whole market or short-term asset price fluctuations.

Re: reading charts... channeling, trends, etc

Santa Cruz — Sun, 13 Jul 2008 04:20:04 GMT

Hey Susan,

this guy is on youtube is a chart guy or claims to to be.

here is his website link

also stockfetcher

reading charts... channeling, trends, etc

rascfw — Sun, 13 Jul 2008 00:59:46 GMT

A lot of you seem to discern quite a bit from charts.

For me, it's really half b'guess, half b'gosh.

If you're like me, you find the process of reading chart patterns fascinating but laborious. Then again, I'm probably in the minority. Regardless, I *do* find it fascinating and thought I'd share some of my favorite websites with you. (All of these sites share a lot of data with non-subscribers like me.)

http://www.channelingstocks.com

I particularly find Channelingstocks.com quite interesting. I've never really tried channel-trading stocks --I was and am too certain that I'd lose my tush. However, it would be great to hear what y'all think of this website, its chart-reading & channel-trading tutorials and --last and least important of all-- the validity of the concept of channeltrading... UH, WERman, Santa Cruz, Doc Stock.... anyone?

http://www.stockconsultant.com/consultnow/basicplus.cgi?ID=sample&symbol=hmy&21217#ttop

I have used stockconsultant.com fairly frequently and it has worked well for me. Mainly to get a grip on resistance and support levels.

http://stockcharts.com/charts/performance/perf.html

I like using stockcharts.com total return performance charts to compare various investment possibilities. The only real weakness I have found is that you have a 50/50 chance of having a chart available for investments younger than 3 years.

http://quotes.barchart.com/texpert.asp?sym=dia&what=opinion

Barchart.com gives you a decent idea of how things are going. However, I feel that the trend opinions (sell, buy or whatever) have a lag time of 3 or more days. IOW, sometimes it shows a 100% (very definite) sell opinion because a specific investment tanked --and then it's 100% (very definite) buy after even someone like me knows the investment's market price has recovered.

I look forward to hearing from you all soon.

Regards,
Susan

	cash	$50,707.84
82 shares	DIA @ 111	$9,102.00
1,809 shares	HMY @ 12.19	$22,051.71
340 shares	UDN @ 29.70	$10,098.00
438 shares	UUP @ 22.33	$9,780.54

7/11/2008	total portfolio value	$101,740.09