Last year this month, analysts forecasted 2006's STi target to reach 2600s. Fast fwd to now, we have not just break free of 2600, we are attempting to touch 2900, almost unthinkable a year ago or even 2 years ago, with all the global issues of birdflu, soaring oil prices, north korea hanky panky, China's overheating economy and so on. All we need is a good reason for the naysayers to predict STi to sink back to 2200 and some say 2000. I always marvel at their wonderful 'PREDICTION' with their WAVE analysis. Yes i am no fan of wave analysis, which contradicts its purpose in the first place. Why would one use a wave analysis when one could simply adjust a particular wave to be invalid to suit his initial overall PREDICTION. Yup, i hate to predict not bec i am chicken but i think it is very IRREPONSIBLE to predict and i cannot stress enough that prediction would do us no good. What we need is an objective view of the CURRENT situation of a stock to gauge the likely outcome when we have reached a particular point in the future. Nope, this is not prediction. This is objective analysis.
Well, to the naysayers, history would tell a much different tale. And it is very important to recall what has been said and happened in the past, in order for us to make a reference on for our decisions. This happens to be the essence of Technical Analysis as well.
On a side note, one wonders the accomplishment of Adolf Hitler has he been living in our time. His charismatic personality would have been able to contribute immensely for a good cause in the U.N. or something .. No?
China Print Dye ~ reversal time, supp .225, res target .285
Pine Agri ~ bean power! supp .545, res target .585
ChipEngSeng ~ construction time? supp .33, res target .36
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