Wall Street people are the stupidest people on Earth (albeit in a close race with mainstream "journalists" and leftists like Nancy "Total Failure" Pelosi) . This is an exiom I repeat over and over again, because it makes me look good. Wall Street keeps proving me right.
Look at today. The Dow is up more than 200 points, and the NASAQ a greater percentage than that. As I have told you before, any person who continues to buy stocks on a day when the Dow is up 200 points is proving himself or herself a "Darwinan Award" finalist--a person who should not be allowed to reproduce for the benefit of humanity's gener pool.
Again, I am not trying to say whether the market should go up or down today I am simply saying that there is nothing in the "news" to justify this magnitude of an advance, especially after yesterday's advance. Yes, you oud say--if yo are stupid--that it is "euphoria" over the economic pork/"stimulus" bill. It is not At best, that is an excuse. It is simply that the stock market has been in a computer trading range between 8 and 9 thousand on the Dow, and 800 and 900 on the Standard and Poors 500. Since the market is now dominated by computer gamers playing this trading range, momentum trading takes over to push the market HIGHTER when it is at the LOWER end of that range, and LOWER when it is at the HIGHER end of that range. Yep. I am telling you that the compputer gamers who are vitrually the only "investors" in today's stock market are merely playing the range. BUT, these same people can see that almost every time the Dow has moved up more than 200 points on a single, day, and several hundred points over a few days, the gainst are soon going to be erased (most likely). This has happened repeatedly since last October.
But do Wall Street people learn? Don't be silly. These are the stupidest people on Earth. Does it bother you if I call you "stupid", if you are buying stocks this afternoon after the Dow is already up 200? It should. Because I am right. You ARE stupid, as is every Wall Street trader doing so in the process of the momentum trading that now dominates Wall Street--computer program driven.
P.S. Yes, Wall Street advances in recent weeks seem to stall when the Dow goes up 200 in a single day It is like I am SHAMING Wall Street, and these people don't want to conclusively label themselves as part of that group I have accurately called "the stupidest people on Earth". I would believe this, if only for the sake of my ego, except I don't believe the newly minted Wall Street fascists/Communists have any shame. So don't count on the Dow failing to go up further today. I have confidence int he stupidity of Walll Street. The Dow may yet go up 500 points today, and I will again have the chance of telling the stupid people on Wall Street: "I told you so." I have already dones so about 10 ties since October. You can look in the arcives of this blog and confirm it.