Shortly after I suggested that Sam was asking us to buy the peak, the shares began to plummet. Of course, that took people like Sam by surprise because they simply predict more of what just happened recently. Now the company has gone from riding on a fluffy cloud to "reassuring skittish investors". Shades of Charles Ponzi reassuring his Marks and Patsies as they lined up trying to cash out of his scam company before the full collapse actually began....
In any case, these Wall St TA guys look like geniuses during the main movement of a motive wave because they simply tell us to stay the course be it bearish or bullish. They always miss the major turns however because legacy TA only looks in the read view mirror; it cannot help very much with repeatable prediction.
BTW, I only pick on Sam because he is a well known technical analyst who has been at it for 40 years with wall st credentials, blah blah blah. I often wonder if these guys really believe in what they are doing, that investing is something other than a zero sum gambling game. I wonder if they actually think that the stock market generates wealth.
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