You say you don't believe in technical analysis. The good thing is, clearly, technical analysis works, but the bad thing is, clearly, it doesn't work very often. Most technicians are one dimensional. To them, a buy signal is a buy signal. Well, a buy signal in a bullish fundamental market is very different from a buy signal in a bearish fundamental market.
Most technicians are one-dimensional.
They are, well, technicians, and to them, a buy signal is a buy signal is a buy signal. Well, a buy signal in a bullish fundamental market is very different from a buy signal in a bearish fundamental market. For example, if I were to consider buying bonds, I want the relationship between bonds and, let's say, gold, to be giving me the signal. There's a strong relationship between gold and bonds and I want that relationship to give me the signal, not just the price of bonds. Well, I think the bonds are influenced a great deal by Eurodollars.