Originally posted by: scott
I use ScotTrade.
On one hand Technical trading is for idiots,
but on other hand,
the world is full of 'em
& they throw so much $$ they move markets,
so it's good to be aware what new trends
the tech traders are swinging on at any given moment.
How can you say that when some of the most successful hedge funds use technical analysis?
I just met with a very famous CEO of a $5 billion hedge fund this past week and he says he uses technical analysis. He is worth several billion dollars and I doubt he's an idiot.
Now relying on a single criteria like technical analysis may not be prudent because I feel you have to use all forms of analysis but technical analysis has been shown to be an effective method of judging how stocks will react.