Can The Charts Make You Money? Techie Tuesday Report Card

Since October, TST has been using every other Tuesday to evaluate stocks using technical analysis.  Now that the fourth quarter of 2008 is coming to a close, I wanted to know: are the charts telling us anything good?

So far, we have examined Exxon Mobil, Starbucks, JP Morgan Chase, Medco Health Solutions and Toronto-Dominion Bank.  Check out our first report card!

10/21 Exxon Mobil (XOM) – SELL, Price at time of recommendation: $68.08, Current Price: $74.91

11/4 Starbucks (SBUX) – SELL, Price at time of recommendation: $12.53, Current Price: $9.36

11/18 JP Morgan Chase (JPM) – SELL, Price at time of recommendation: $32.14, Current Price: $29.82

12/2 Medco Health Solutions (MHS) – BUY, Price at recommendation: $38.55, Current Price: $42.82 

12/16 Toronto-Dominion Bank (TD) – BUY, Price at recommendation: $32.75, Current Price: $33.63

Looks like we are doing pretty well, 4 out of 5!

Technical analysts rely upon charts to detect patterns. They bet on the chance that the patterns will reoccur, so while we are 4 for 5 this quarter, we may be 0 for 5 in the next. 

So far so good :)