Wednesday, February 25, 2009

Wall Street: The Stupidest People on Earth

Do you really doubt me that Wall Street people, including traders, are the Stupidest People on Earth? Look at the stock market action today.

The Dow went down this morning until it was down almost 200 points (my earlier entry was written on the way down). After that, the market jumped, in a matter of almost minutes, from down 150 to down 80. It then fell back to down 150. This is what Sean Hannnity (who does not understand the stock market at all, or simply makes partisan assertions he things sound good) called "going straight down after Obama's speech last night". See my earlier entry today for a correct view of the insanity--computer casino gaming--that is going on here.

Then the Dow, in the last hour, managed to go UP (positive for the day) at least 50. Then, as if to prove me right that we are dealing with the Stupidest People on Earth, the Dow went down in a matter of minutes. The Dow finally cloesed at down 80--about the same level of my entry this morning. But that statement glosses over the IRRATIONAL moves today (250 points low to high).

Q.E.D/ Wall Street people are the Stupidest People on Earth. Further, Wall Street is now clearly runnig a computer gaming casino, instead of any stock market for real "investors".

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