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This sort of waffle is why I’ve banished most market chat to Stock Tickle
by Mr Tickle on March 4, 2010
Monevator readers will know I’m pretty skeptical of the value of guessing the direction of the market in the ultra-short term.
Not only is there virtually no evidence it works (momentum does have a limited claim ) but it’s also too easy to sound ridiculous when you do so.
Here’s the famous Naked Trader, the UK’s Robbie Burns, writing about the FTSE 100:
I’m glad I follow the markets and not try and forecast them – I did think they might go down! A very strong showing but the big question is, is it all too much and is 5550 the top for now? It would look pretty bullish if 5550 went. The markets are definitely strong right now. Are they right? Who knows, they are there to be followed. However one wonders whether if they carry on rising whether that would induce a nasty fall.
Do the contradictions cancel themselves out, I wonder? I haven’t counted.
Still, there but for the grace of God go I.
By the way, Robbie’s strange tail-chasing isn’t evidence that he can’t trade. If any short-term traders are winners, I’m convinced it’s down to gut feel and Derren Brown style pattern matching, rather than intellectual posturing.
In other words, he probably couldn’t explain it . Even if he could.
This sort of waffle is why I’ve banished most market chat to Stock Tickle
by Mr Tickle on March 4, 2010
Monevator readers will know I’m pretty skeptical of the value of guessing the direction of the market in the ultra-short term.
Not only is there virtually no evidence it works (momentum does have a limited claim ) but it’s also too easy to sound ridiculous when you do so.
Here’s the famous Naked Trader, the UK’s Robbie Burns, writing about the FTSE 100:
Do the contradictions cancel themselves out, I wonder? I haven’t counted.
Still, there but for the grace of God go I.
By the way, Robbie’s strange tail-chasing isn’t evidence that he can’t trade. If any short-term traders are winners, I’m convinced it’s down to gut feel and Derren Brown style pattern matching, rather than intellectual posturing.
In other words, he probably couldn’t explain it . Even if he could.
(Source: Stockopedia)
Tagged as: trading