Crow's Mouth(1): Do you believe in the technical analysis?

There is nothing for sure in the market. That's why we need to do risk management. I know a lot of people dislike Jim Cramer. But I like him. The reason is simple: He knows about making money than I do. Let's share share one of his short stories. --------------------------------------------------- Chart people spot many tops; in fact, they spot more tops than there are. That's just not valuable to me. In fact, one of the bigget mistakes I ever had in my career was to be short Genentech based upon a classic top formation, which, a prominent technician told me, ninety-nine times out of hundred produced a significant decline. I got my face handed to me when, the next week, Genentech got a homongous takeover bid! I had to buy the stock back up about 70%. As I hung up on the technician after cussing him out of the hot tip, he was squealing, "But the chart says it should go down!" To heck with the chart! -wang-lao-wu(钻石王老五) 2007-4-21