Spot on Don. I agree 100%. It doesn't matter what your time-frame is, if you buy a fundamentally strong company with an upward bias, or a weak company with downward spiral, you are ahead of the game. Now you understand the price action and can be confident.
Reminds me of an argument between a technicals and a fundamentals trader. While arguing over dinner, the technician dropped his steak knife. They both were transfixed, watching it fall to the floor. Into the foot of the fundamentals trader. The technician yelled "Why didn't you move your foot?" The fundamentalist said "I was waiting for it to go back up!!!"
Well then that "fundamentalist" didn't know how to read a balance sheet and a cash flow statement, because if he did, he would have moved his foot as the steak knife dropped and asked the waitor for a new steak knife.