Let Us Begin wrote:
well by l'fisky's readings of the chart tea leaves, we have a short term bullish trading signal.
The US measured by VTI has already rebounded 2.5% from its lows last week. Was this just another headfake that shook out the weak hands and will force them to buy back in at higher prices?
We are looking for substance here. Not nonsense about tea leaves, trading signals, head fakes and weak hands.
Guess I'll have to continue to wait for Maserati.[/quote]
but to be fair to me, what I wrote was not nonsense. I used to be in the hedge fund world and I know how groupthink works - hedgies all do the same thing at once, and that drives the market in one direction to the next. In other words, quick 5% drops like we just had are usually the result of hedge funds trying to be smart and computer programs. No fundamental economic reason for it.
They all rush out at once, then rush back in at the same time. Again and again and again.
If you are looking for 1 + 2 = 3 sort of economic truths predicting the moves of the stock market, you will never get that. And you will be disappointed.