When I first started in the venture business i worked in a firm where one of the senior partners was a guy who always charted stocks. I learned a lot about stocks from him. He would draw trend lines, show me breakouts, gaps up, gaps down, etc. I never fully got the gist of the stuff he was doing, but i came away from this whole learning experience thinking that the stock chart was something you should always consider in an overall evaluation of a stock. I do not think charts are stupid as some people think. I believe they are predictive in some important ways.
So with the preamble, please look at this chart of George W Bush’s approval ratings. I can’t draw the trend lines and don’t know what this says. But I want to know if there are any chartists out there who can. If so, please comment on this post and tell me what this means for Bush.