Today I thought I’d look at stocks which, frankly, I don’t understand. And by that I mean I don’t understand why people use their product/service. And if I don’t understand it, I never invest or even trade the stock. But, that’s not to say I’m in the majority. In fact, judging by the charts below, I’m in the vast minority.
But, before I get to that, this may be my one and only opportunity to use the phrase of the day and say this market is undergoing…LINSANITY! In other words, it’s acting against all reasonable explanations, but at this point no one wants to get off the horse.
Now, back to the stocks, let’s look first at Green Mountain Coffee (NASDAQ:GMCR), a stock which is the bane to all homemade coffee snobs (and cheap people) like myself.
Joining GMCR is LinkedIn (NASDAQ:LNKD). Honestly, I do not understand their service, although somewhere along the way I joined. Or was recruited. Or forced to submit. (Which may be the key to their success!)
Anyway, my point is that technical analysis should be an objective business. Love or loathe a stock, you can still make money off of it, if you leave your opinion at home.