Many technical analysts continue to call for a quick and painful pullback in the stock market ... perhaps they are so busy reading news on the internet that it is getting in the way of their technicals?
Here are two well-known and worthy analysts - both of whom, apparently, are bearish on everything except the US dollar. While I dispute their analysis I would encourage you to click on the links and read what the writers have to say.
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What you are about to read going forward could be both fundamentally and technically wrong .... you've been provided with alternative arguments by two respected technical analysts who are often paid for their advice. The advice here is free. When all else fails, you might want to consider seeking the counsel of those who are paid to offer it; however, it is still your responsibilty to read the caveats at the bottom of all commentaries, including this one.
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The markets are forward-thinking. What is happening inside Europe right now has already been taken into account by the Wizards of Wall Street. That's what wizards do. They know more than the rest of us. It's their job. Wall Street doesn't read news clippings, they write them.
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| Who's writing the "news?" |
If we are to assume the big players in the world's financial capital are blissfully unaware of what's going on outside the friendly confines of Lower Manhatten (I can assure you they aren't), then the analysts in the links provided above certainly have an argument. So, where is the panic? Where is the sell-off we have been warned of for months on end?
Wall Street is not blissfully unaware of anything. Wall street creates direction, they don't chase after it, unlike the throngs of easily influenced bears who are so caught up reading yesterday's news that their analysis has been corrupted by .... well, yesterday's news.
Here's a piece of advice: Wall Street has never once taken, "A random walk down Wall Street."
Most bears and gold bugs quite willingly acknowledge that this is the age of propaganda, yet would never even consider they've been out-propaganda'd by propaganda.
Here are some questions for those of you so caught up reading these anti-propaganda sites complaining about Big Brother propaganda ...
Have any of these anti-propaganda sites made you any real money?
Have any of these sites ever steered you in the wrong direction?
Did these sites encourage you to short the market rather than buy it?
Big Brother works in strange and mysterious ways.
Give it some thought.
