Thursday, July 22, 2010


So this post over at Biiwii comes to my attention, which demands a quick word methinks

To start with, there's been an ongoing barb-fest between Gary and I about the benefits (or not) of technical analysis for as long as we've known each other, it's nothing new. Also it's hardly an original theme, as if I happen to disagree with Gary about the usefulness or otherwise of charting it's nothing much more than a personalization of an old, old market argument that has gone on since forevertime and will not stop, as there are plenty more than just these two marketwatchers that squabble over this one.

But more importantly...much more importantly, Gary is one of the very few people out there who has a opinion worth listening to when it comes to charts. There are all sorts of chartists out there, nearly all of whom get my attention in nanoseconds, but Gary is very very different. Away from the surface banter, he and I swap thoughts and opinions on companies and come from our differing viewpoints and I'm damned sure that I respect everything he says about a stock price because I've learned how good the guy is.

It's not about the chart, it's about the interpretation of the chart. That's exactly the same as considering a company from a fundy viewpoint, from its results, balance sheet, production data etc. You can do all that but if you can't interpret the raw data correctly then it's all a waste of time. When it comes to TA any old fool can look at a squiggly line and form an opinion, but it takes a lot more knowledge and graft to get those opinions to be consistently correct. I honestly don't know how Gary does what he does and quite frankly I care not about trying to learn. What I do know is that the dude is the smartest I know at charts and has the winning track record to prove it. And you should definitely be a subscriber to his Weekly report by now because it's a best of breed publication.

I know where he's coming from and he knows where I'm coming from. So if there are people out there "worried" about the blogsnark, then do yourself a favour and find something more important to worry about. There's no issue here, Gary BiiWii rocks, period.