Saturday, October 3, 2009

Decision Point

I highly doubt that anyone is collecting quotations from technical analysts for a specialized Bartlett’s. But if they were, at the top of the list should be Carl Swenlin’s trademark “Technical analysis is a windsock, not a crystal ball.” Since a windsock is designed to measure two variables, wind direction and wind speed, I consider it a brilliant metaphor.

Swenlin contributes to the StockCharts bi-weekly newsletter and also has free analyses on his website. He’s one of the very few forecasters I pay any attention to. CXO Advisory's grading of his market calls is “pretty good” with not much confidence. But that’s way better than most.

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