Seth Godin says its best in this post.
It is the future that makes people buy stock it is not the past.
When you think about risk management, this becomes very important. People are not interested in what happened months ago because all is done and said and more important it already changed their account. It still might do that in the future but it is more likely that new news are far more interesting.
Thats one of the reasons why technical analysis is overrated. It does look back, it does not look forward. When investing