Telewest will recover

It seems we can blame a website for the incorrect share price data mentioned in the previous post.

As regards charts, may I make 3 points-

1. Many so-called chartists rely on charty websites for their 'info'. Those I have seen which rely on software to detect patterns are poor at doing their job.
Investtech is one such site and I give it a wide berth.

2. Charts can work, but it takes a lot of time and effort to develop the understanding to use them well. Very few people are prepared to put in that much effort. Poor understanding leads to poor results.

3. Anyone using charts needs to align his/her investing mentality with what they look for in their charts. If you are a trader, you need to understand the short term patterns and use them within an awareness of the longer term trend. Long term investors should look for long term patterns.

I use charts for medium/long term investment and find they work for me using the classic patterns. Teaspoons and teacups with handles and the like I avoid like the plague.

From a coffee-drinking Indieman