I second your opinion about these goofy strategies. I have several friends and family members, who when they look at stock price charts see lots of patterns and

I second your opinion about these goofy strategies. I have several friends and family members, who when they look at stock price charts see lots of patterns and think that you can analyze them using various kinds of simple formulas or rules and beat the market. This gets reinforced by people who have used these techniques "successfully" to make money. You usually don't hear from the sheepish retail investor who is losing 10% trying to swing trade; you hear from the few guys who got lucky. All of these approaches are just gambling with a pseudoscientific approach.