Smart Thinking, Robert, The fellow who said, the market is always right and there are many others who think that way as well, must never have heard of Templeton. He has made those huge sums for over 40 years by practicing the exact opposite and buying when it is out of favour or the "smart market" decides to sell. Cundill does the same thing, and some of the smarter players do the same. Markets react to short plays, or short squeezes, or news that is good or bad,and any number of other reasons. For instance, if you have a house who does not have their cash position in line with regulations and they dump shares to attain the level required is that a "smart market" that sells its shares? I think the expression has been around long enough that a lot of newer players use it like the jargon tossed around in any group of people such as miners, or lawyers, or brokers, and don't really think about what that means.
I've been around long enough to have heard and tried to play the smart market. Too many times I saw that the market wasn't smart and the players who thought it was were left smarting.
One part of me hopes you get them down low and dirty but the other part of me wants it to move back up. I heard Nesbitt had 300,000 to sell. I haven't looked at Thursdays trading stats, but on Friday they sold 187,400 by the time the market closed. The important thing here is that they were the only house selling other than a few to green line and 083. That doesn't sound like a bad news rumour to me, because if it were, then they would all be dumping.
Should I wish you Luck?
Cheers
Shirley |
