tom...where we disagree is in the concerted effort of what you refer to as the "houses", to work in unison to control and manipulate the markets. i can't assign that much intellect or credit to the "houses", perhaps years ago, with less liquidity such effort would be easier to visualize.
now, markets, particularly money managers, have disregarded history....this was seen in qcom, or even in the comments of the ever sensitive poet.....more a lemming mentality, that which goes up will continue, and when it becomes bad, it always gets worse....
perhaps true, but to board the train when it is about to arrive at either end of the line, proves the lesser acumen of the masses....
the old street saw: "if the majority were always correct, then they all be rich"......this almost proved true in the recent market mania, but resolved the issue and established reality in the correction....
we have seen the worse case, barring any extreme geopolitical or global financial calamity....caution should not be cast aside, but the talking heads are singing the same song....
safety in quality, risk in momentum....for the moment! |
