You know folks, occasionally you notice something so silly in your area of skill that you can't merely sit on the sidelines and say nothing. You gotta shoot out of your bench from the sidelines and point your finger and declare sir, what you recently said was ridiculous.
Econbustsoon of YouTube has just posted a new technical analysis video that is, extremely, stupid.
To add a little background here, this man is a Republican who thinks Glenn Beck of Fox News is with it. I am surprised any person with an IQ over 80 watches Fox News anymore. I always feel a little more stupid after looking at Fox News. We report you decide, tongue-in-cheek, wink wink.
Therefore this is one of those guys who thinks western civilization will fail by the end of 2010 and that you should purchase gold.
I abhor when gold ingots experiment in technical analysis with a preconception not in favor of stocks. That's intellectual deceitfulness to say the very least.
So what Econbustsoon has done that has pulled me off the sidelines and has got me pointing my figure at him and calling him lame is the method of technical analysis he uses in his video to prop up his biased Republican views.
It's dreadful. No, it's further than dreadful: it's DUMB.
This technique of stock charting is NOT how you should perform technical analysis on stocks. Econbustsoon is only concerned with putting his Republican views out there with the hope of gaining converts. He is not concerned about you losing money if you take his guidance. If he was, he wouldn't use some elementary, backwoods, make it up as I go along, system of technical analysis. You will not hit upon any trustworthy technical analysis books or websites instructing you how to photoshop a stock chart in an effort to predict where a stock market is going. He attempts to come off credible by saying "Past performance is no guarantee of future results ladies and gentlemen BUT if you are not paying attention to the symmetry of time..." and then he does his sham method.
You wonder if Republicans are getting distressed when they have to resort to photoshopping charts of stocks to make them show what they wish for.
Now and again people do or say things so dumb that it's best to just get out of there way and let them glow in all their stupid glory so here it is.
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“All Warfare is about Deception. Hence, when able to attack, we must seem unable; when using our forces; we must seem inactive; when we are near, we must make the enemy believe we are far away; when far away, we must make him believe we are near.... If your opponent is choleric temper, seek to IRRITATE him. Pretend to be Weak, That he may grow ARROGANT.”
by Sun Tzu
“All Warfare is about Deception. Hence, when able to attack, we must seem unable; when using our forces; we must seem inactive; when we are near, we must make the enemy believe we are far away; when far away, we must make him believe we are near.... If your opponent is choleric temper, seek to IRRITATE him. Pretend to be Weak, That he may grow ARROGANT.”
by Sun Tzu
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