I don't care if Buffet recommends it...it simply doesn't work. I never lost money in it...simply because after months and years of tests via computer programms I've written, reading studies from Harvard, MIT and etc - my conclusion is final: Nor technical analysis, nor fundamental analysis does work. It's the null hypothesis... My advice? Arbitrage, but classical arbitrage and NOT statiscial arbitrage, this is how I make money and most serious people do. Everything else is gambling pure and simple.