As an old observer...
I have observed that almost all technical analysis is swayed by one's personal investment position (and hopes).
Before the internet, I used to run down to Barnes and Nobel on Sunday to read the latest Barren's to see the "Expert" opinions.
Usually they were pushing their personal positions and investments.
I also used to listen to Dan Dorfman.
"Mr. Dorfman was for much of the 1990s considered the most influential stock tipster in the country.. Dorfman was a prominent CNBC commentator in the 1990s and a columnist for Money magazine. He also was a CNN financial news commentator in the 1980s, and a columnist for The Wall Street Journal early in his career. He was a highly visible financial journalist whose televised market reports could send a stock soaring — or plummeting — but whose career was tarnished by accusations of insider trading."
I actually made a few bucks by buying as soon as Dan recommended any stock... but then selling very soon after.
Tonight's crypto comments inspired tonight's comment:
Cheerleaders often have a different opinion than professional sports gamblers.
Cheerleaders have hopes, but gamblers have their money on the line.
However gamblers are also influenced by their position (and favorite teams).
After all, we are all just human.
Edited by Rogerdodger, 26 April 2022 - 10:06 PM.