If you’re a technical analyst who’s been burning the candlestick patterns at both ends, you may want to sit that rounding bottom down because this may cause you to blow your spinning top. There are people out there these days who believe all that chart watching is a waste of time. Regardless of whether you spot a bullish abandoned baby or a Jennifer Lopez pattern, these critics are convinced it’s mostly all a big fakeout. Arvid Hoffmann of Maastricht University and Hersh Shefrin of Santa Clara University have a forthcoming paper for the Journal of Economic Behavior and Organization that argues individuals who use ... (full story)