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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: High Country Trader who wrote (12532)6/3/2002 4:14:44 PM
From: ahhaha  Read Replies (1) of 19219
 
I can't predict how stupid people can get. No one can. Human emotion controls stock prices, no doubt, but knowing that is absolutely of no value. The only thing one can do is operate in the direction of the money flow. When one does that one finds unexpectedly that one ends up ahead.

It is often said that you have to buy when stocks are low. They were low in April 2001 and one should have been buying. If buying was justified after 1997, then selling has been justified since April 2001. You make money both times, maybe, but you do so by luckily guessing how stupid people can get. Indicators never show that. They only show different degrees of stupidity. Stupidity has a way of inducing you to believe and then cleaning you out. Try as you might, you can't figure out how it occurred. That's why you don't get any reports from that side of the result equation.
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