TA skill Review?

The current down turn in the board market has causes many to lost much in the market, and I'm not spared. While I was thinking of shorting, I did nothing. This reminded me when I posted STX PO about it possible downtrend in the pasted.

Will I go into shorting? What is my objective? Forget it, I have myself to blame for not doing what I needs to do.

Visited a few forums and saw some posting about the uselessness of TA when the market is trending down. I'm not sure how true it is?

Read about canslim, the author highlighted that joining the stock maket without the knowledge and ability to analyze a chart is as good as a blind walking in the street without a walking stick. Tosing our chart in thrash bin.., well we might need to reconsider...

Generally, chart are loaded with information (price, volume), indicators (MA, Stochasitcs, RSI, MACD, etc). Ability to read chart pattern will assist us to guess the most likely direction. Yes, I have to agree that it's not fool prove.

In charting, additional tools was added to help us in identify support, resistance, draw trendline for our own alert of possible breakout/breakdown. We may be able to identify the macro trend of a stock whether it is rally distributing, down trending or accumulating. Some charting tool comes with a screening (stock selection) and back testing funtions.

Again me no expert, generally if we had pickup some knowledge and skill is chart analysis, we should be thinking of better it and hopefully when the time is right for our trading style, we could benefit from it.

Don't throw our knowledge and skill away just yet, as long as we're still in the market place.