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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Compadre who wrote (48483)	4/5/2004 10:34:55 AM
From: Michael Watkins	Read Replies (1) \| Respond to of 52237

Perhaps the growth rate is relatively constant over a long period of time, but that knowledge doesn't help me make trading decisions in real time, or on a regular daily basis. The emotions of market participants are far more influenced by how much money they are making or losing compared to yesterday, or last week or last month, or in the past year. How many judge their performance (in real time as they are making trading decisions) as compared to what they did 10 years ago? Thinking about this from another angle, the composition of the index changes constantly, when viewed from the long term picture. Because of this, I discount much of what has happened way-back-then. Sure, past behaviour does influence how people think about today's events. And sure, lots of people slap lines connecting different points all over their charts and for some, that influences behaviour. My point is not to dismiss this out of hand but to suggest that what happens in the here and now is far more important to the big picture than many are willing to admit.