THE FUNDAMENTALIST VERSUS THE TECHNICIAN

What is the difference between the fundamentalist and the technician?

Well, we can use all kinds of fancy, detailed explanations or we can keep it simple.  I choose to keep it simple.

The fundamentalist studies the cause of market movement, while the technician studies the effect.

John J. Murphy, Technical Analysis of the Futures Markets

Personally I do not care why a stock moves in one direction or the other.  I care only about its direction.  I follow the price, or the effect that any number of variables have on the price.  I study what the price is doing.  WHY does not matter to me…only the WHAT.

 

 

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