". I heard them say we're in a downtrend until there's some indication that we're not
JDN: It's easy for you to take this statement out of context, but it's actually a reasonable statement. The context was that someone had listened to a recording of two TA analysts who were bearish, and categorized their bearishness as "fear".
They were basically saying, since the beginning of this thing idiots have been assuming there would be a "second-half recovery", and guess what, there isn't one, they were wrong. They were saying, "Forget about idiots who say stocks are cheap because they've gone down 80%, they're wrong". They were saying "Forget about idiots who say recovery must be right around the corner just because the fed has cut rates, they're wrong. We're in a downtrend, play it that way and stay cautious until you have some reason not to. Don't throw good money after bad."
Far from an empty statement, this is a lot more level headed and reasonable advice then you get from most of the media talking heads. You act as though it's an obvious statement, but go look at 90% of the messages on stock message boards and what do they say? "Upturn any day", "Stocks are cheap because they've come down", "Fed rate cut about to boost the markets". Idiots.
These guys whom you accuse of making a "really profound statement" are the ones who are right. It may not be a profound statement, but it reflects more common sense than most of the related statemens that I see.
--QS |
