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Pastimes : Grinders and Gripers Coffee Shop
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To: Mr Metals who wrote (3744)3/3/1999 8:25:00 AM
From: The Osprey  Read Replies (4) of 4201
 
The link has alot of truths MM.As they say it takes more than a market maker to make a market.Everybody refers to the "sheep syndrome".I prefer to think of it as the "lemmings syndrome".When food becomes scarce they are always watching each other and following normally as a result of overpopulation and scarcity of food.When one runs in search of food they all follow and one gets pushed over the cliff and the rest follow offing themselves and thus reducing the population.The smart ones that do not follow the leader so to speak survive to eat another day from there own food supply and thrive.
Such is the way with the "sheep syndrome/lemmings syndrome".Some jump over the cliff and others set back and survive.

I think it was Sir John Templeton who once said "watch what the majority of people are doing and do the opposite" All a result of good due diligence on his part I suspect.He chose not to follow the lead lemming in search of food.He looked the other way and found his own and survived while others perished.

Having said that the momentum play is one that people find hard to resist assuming one person has the inside track or a hot tip.I am guilty of it myself admittedly so.That is the greed factor at it's finest.....looking for the get rich quick investment.
I think that when a person goes for a momom play best they leave emotion out of it and kiss the money good bye at the start.If they win or lose makes no difference.Think of the lemming in search of food either way.Nothing replaces good old Due diligence and making up your own mind and your own decisions.Then we have no one to blame or bitch at but ourselves.Human nature says we have to blame someone else as we do not want to accept the blame ourselves.

GREED AND FEAR......they are what makes our markets.LONG or SHORT.

"THE OSPREY"
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