re: Follow me on a trade, or don't, GOOGL

I have a core position and added to it at 111.67 this morning. It is a long term hold and I believe it will be up in the next few years.

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Your reading comprehension sucks. I didn’t say technical analysis has no value. I do look at technicals but it looks like that’s all he was looking at in his OP.

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No, it doesn’t. You can trade and make money solely off technicals with no analysis of fundamentals. Your understanding technicals and the significance to trading sucks. It’s good that you don’t think you can make money that way, though.

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You advocate gambling and not investing.

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I do not advocate it at all. People like you should absolutely, 100%, not trade on technicals. Trading is not investing. Your combing the two further confirms my point which we agree on, you should not be trading on technicals. You telling someone else (like the OP) that is capable of reading and trading on technicals that they cannot make money doing it is wrong.

We can agree on the fact you should not be trading on technicals. We’ll just have to disagree on whether anyone can trade on technicals.

And, a 5% move based on Powell’s statements about inflation doesn’t make you right at all. Most people I communicate with expected today to be a bloodbath. Powell completely missed the mark on inflation being transitory and now he is going to overshoot on rates and QT is going to double in September. I have 3800 strike puts on the S&P based solely on technicals, which you say cannot be traded, for these very reasons.

GOOG is likely to go to $105s, and then bounce. And it will have nothing to do with fundamentals.

To thatguy777 and anyone else reading this thread, I give you the thoughts of Warren Buffett:

But Buffett discovered one small problem. Technical analysis didn't work. He explained, "I realized that technical analysis didn't work when I turned the chart upside down and didn't get a different answer."
After eight years of trying, he concluded that it was the wrong way to invest. Then he focused on the teachings of Ben Graham, which stressed business fundamentals, finding a strategy that both made sense and, more importantly, worked."

Who are you going to listen to? Warren Buffett, one of the top 10 richest people in the world worth over 100 billion dollars that advocates fundamental analysis or the clown I’m arguing with?

100% technical investing is a fools errand. Multiple studies have shown technical analysis is a drag on performance. Any studies that support technical analysis cheery pick time lines in order to sell books/seminars/subscriptions/click.

You are gambling. You will win a few times or maybe even a hot streak in blackjack, but consistently over time you will loose.

Throw that technical analysis book away and get some fundamental ones.

Case closed.

You’re being irrational for someone that’s supposedly traded for 30 years. All of the major indices were down 3+% today. Obviously, yea it didn’t work out.

And for the 2nd time in this thread I’ve told you it wasn’t a pure technical trade. I’m still in this and down, I’m sure that makes you happy. You seem to have some issues

Do we like $GOOG better at $106?