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ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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The market DOES NOT look forward. This is the biggest bullshit that Wall Street propagated to fool the naive investors to hang in at all cost.Quote from Jahajee:
I agree with your self-deprecating comments.. but
could be things are not as bad as then and we are in the depths of the recession, another 3 or 4 months and economy will start to turn around. Market looks forward
For example, if you have Walmart beat consensus, every idiotic analysts would say we're ahead of the recession (that is, in the next 6 months). But if another bellweather reports less than consensus on the following day, the same idiots would state "well, maybe it ain't so rosy." It's all fuzzy logic, if you ask me.
It's up to nq to rally the troops from here, finally reached some support.
Quote from saliva:
The market DOES NOT look forward. This is the biggest bullshit that Wall Street propagated to fool the naive investors to hang in at all cost.
For example, if you have Walmart beat consensus, every idiotic analysts would say we're ahead of the recession (that is, in the next 6 months). But if another bellweather reports less than consensus on the following day, the same idiots would state "well, maybe it ain't so rosy." It's all fuzzy logic, if you ask me.
Forget the wall st crowd and their bullshit etc.
It is natural for people to look forward. If I want to invest I will look back to analyze the historical trends etc but I will put more emphasis on what is going to happen over the next few months or years, depending on my timeframe.
At this juncture, people will look at the conditions and environment last November and compare with now and the future and determine if prices would be higher or lower. If they think it will be worse than November they will sell short; if not, they will go long. Simple.
I think the worst has been seen but can't be sure until there is more visibility re: Q1 earnings. If these earnings do not show an improvement and economic conditions worsen then markets will make new lows.
But, it is human to look forward. You can't deny the past, we learn from mistakes, but it is natural to look forward because life goes on, in the future, not he past.
End of sermon.
got new lows sal, nice. still looking for the overnight low to hold
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