Saturday, October 20, 2007

Hard Times Flush the Chumps.

I would consider the last 5 trading days as an indication that the markets are going to crash next week...If I was a chump. Since I am in the non chump classification I will simply chalk up recent price action to "distribution" or noise. In reality its only hindsight bias that ever really gives us a clear enough picture of history. We humans like to make sense of everything and have it all figured out. Why? So we can sleep at night, so we can feel smarter than we really are. I do know this; panic over Gold, Oil, China and the toys little Johnny gets in his Christmas stalking this year has not paid off for the bears in the past 4 years. So why get excited about a little sell off? Its like my friend St. Thomas says; "Price is King"

3 comments:

Eva said...

Christmas Stalking? Sounds interesting I might try it.

LanceR said...

Should we be excited now? Are we actually going to see more bearish movement? Or will investors' strong desire for the market to go up continue to buoy it? Hmm, fun times.

Smart Bomb said...

Fear is back and I am hedging. right now gold is well as good as gold. I love typos sometimes. I with I was the one who actually came up with Christmas Stalking...thanks eva. Hey lance just be cool and let the market tell you what move to make next.