sandintoes,
If it is a true run up, there will be little or no sell off just after the opening gap, and after the first 20 minutes the stock will be at the high of the day, or at least higher than the open.
<< Very crooked, if you ask me. >>
If by that you mean that the MM's and professionals have a huge advantage, and that the playing field is anything but level----yes, you're right. IMHO, the stock exchanges of the world are essentially government condoned institutions which have perfected the art of gradual, systematic transfer of wealth, all the while creating the illusion that anybody can strike it rich in the markets. Dishonest? Maybe. But look at the state lotteries, which promote a similar illusion, and in which participants have a better chance of seeing Elvis in a U.F.O. than they have of ever winning. Or, for that matter, look at Las Vegas....... same thing. Those huge, garish palaces constantly being built there are not financed out of the goodness of the developer's hearts, after all, but rather blatant and insulting---and perhaps shameful---testimony to the gullibility of nearly all of us, and the incredible power of image and greed to cause us to completely ignore reality.
But I look at it this way: were it otherwise, every exchange in the world would close its doors tomorrow.
I don't think there's anything necessarily wrong with it. It is what it is. But it is important to have some understanding of a game before you decide to play. Never show up to a gunfight with a slingshot, after all......
Besides, it makes things fun and interesting. There's lots of things fun and interesting that are also dangerous---skydiving, rock climbing, hang gliding, etc. But, we pursue them with a passion just the same. To me it is fascinating and fun to learn more and more about how the thing works.
JMVHO, as always.....
Walkingshadow |
