Some early confirmation of this morning's post, above, in today's price action in financials. Watch tonight's action in mining shares BHP and Rio Tinto. Oh yea, add this post mortem on today's action. a startling bit of timing I might add: June 25 (Bloomberg) -- Financial shares tumbled on concern losses tied to subprime mortgages will deepen, extending the U.S. stock market's worst weekly decline since March. . . . . Financial shares were the biggest drag on the S&P 500, losing 0.6 percent as a group and accounting for more than one- third of the retreat.
I encourage you to subscribe to TheChartStore.com in the short term. ( I am not the provider, just a happy subscriber). My advertising plug of "Crash in two weeks" was very ambitious, however Aug, Sept and Oct 2007 should be very interesting this year. Things even may be delayed into 2008, but whenever the market has stayed up for so long without a 10% correction the final result has been a correction of over 20% EVERY TIME. I refer you to the latest weekly blog (June 23rd) in TheChartStore.com for evidence.
There is nothing "magical" about human psychology. Keep convincing yourself that it IS different this time. What you call courage, I call stupidity.
no - it is not different this time - it is exactly the same, i.e. smart people will make money while majority will just hold the bag. but you just confirmed to me that you think in stereotypes...
LMAO, what in the world does that mean? I said human psychology does not change, and out of that you conclude I think in sterotypes? That's a pretty big stretch don't you think? I never said that the world doesn't change, just that the reactions of the human brain to "herd mentality" have remained the same since our existence.
Giving credit where credit is due, here's Mr. Forbes' spot-on reporting of the sheep shearing -- yesterday's & today's opening act in particular: There was a time when Stephen Schwarzman, chief executive of Blackstone Group, would globe-trot, lecturing people on the benefits of running a privately held firm. At one point, the financier dismissed the public markets as "overrated." He may have had a point. After furious bidding to get hold of Blackstone's initial public offering last week, investors could have picked up the shares on Tuesday for less than the company sold them for.
really? let's roll back a bit... rateesquad said: quote "For that matter why does anyone compare 95 to now.... Everything has changed.....remember a lot more people trade now then before....since 2000...the charts patterns are not the same...well ok some of it...but you cant compare 20th century to the 21st it is just ludicrous." end of quote and you replied: quote The market never changes. .It is a reflection of human psychology and human psychology does not change!!! end of quote I argued with the bold section - check the remaining posts for yourself. so don't shit around here now with psychology and that you never said that the world does not change. this is becoming silly anyway - I do not know why I argue with you. howgh