What the $%@&*# ?
Does anybody really believe in this stuff? Have you ever really made money using analysis like this? I can't even rationalize it or even begin to justify it. Its the equivelant of voodoo. Is there somebody out there that can defend an analysis like this?
"Oh yeah - I made like a bazzillion dollars last year tracking bullish triangles". "We've got bullish rectangles too. And if you ever catch an Isoceles Bullish Triangle, back up the truck!"
Sales Pitch I got from Zack's:
Some services point out these patterns after they’ve happened and the trade has gotten away. What’s the point of that? It’s like whispering the winning lottery ticket number to someone after the contest is over.
Instead, I’m sure you’ll want to know about that stock before the breakout happens, or at the moment it begins. That’s where the Chart Patterns Trader comes in.
Here are a few other examples of recent pattern-inspired recommendations
+33.5% gains from First Solar (FSLR) in just 22 days (“Bullish Symmetrical Triangle”)
+23.0% gains from Manitowoc (MTW) in just 16 days (“Bullish Ascending Triangle”)
+18.9% gains from Stanley (SXE) in just 6 days (“Bullish Wedge”)
+23.3% gains from Robbins & Meyers (RBN) in just 9 days (“Bullish Flag”)
+34.2% gains from Geoeye (GEOY) in just 33 days (“Bullish Rectangle”)
+21.6% gains from Northwest Utilities (NU) in just 46 days (“Bearish Head and Shoulders” – Yes, we make money from Bear moves, too.)
+27.2% gains from Apple (AAPL) in just 15 days (“Bullish Inverted Head and Shoulders”)