Tuesday, February 24, 2009

Wall Street: The Stupidest People on Earth

What would I do without Wall Street to show people how smart I am? Well, it is not only Wall Street where my analysis has been shown to be correct. However, since October, the Stupidest People on Earth (wall Street people) have done their very best to make me look like a genius.

Yes, todayis an example. The Dow jumped 200 points by noonish today. That was after dropping 250 ponts yesterday. Is this rational? Of course not. It merely shows that most of the drop yesterday was fictional momentum trading. The bounce today (which I suggested yesterday was due) is being fed by the same momentum trading. The "news" does not justify these wild gyrations, which merely show that Wall Street is sick.

I have told you that only the Stupidest People on Earth keep buying stocks when the Dow is up 200 in a single day, or keep selling stocks when the Dow is down 200 in a single day. I have recently dropped this number to 150, as the stock market level makes this a bigger percentage move now. Plus, there is almost never any reason fro the Dow to either go up or down more than 100 points in a single day.

Why should the Dow not go up 250 today, when it went down 250 yesterday? If you think that way, you are one of the Stupidest People on Earth, and should be on Wall Street. Two "wrongs" do not make a right (that truest of all "middle class" truths). These wild gyratiions merely show a sick market. It will not be healthy until this wild momentum trading is either suppressed, or stops by Wall Street actually learning. However, the very reason Wall Street people are the Stupidest People on Earth is that they do not learn. They did not "learn" from the bursting of the dot.com bubble. They did not learn from the bursting of the oil bubble (more than once). They did not learn from the bursting of the housing bubble. They are truly the Stupidest People on Earth--which is why I am not optimistic.

No, I don't know how the stock market will finish today. I do not know what direction it will go in tomorrrow. But I do know that Wall Street people have proven themselves to be the Stupidest People on Earth, and these are the very people now telling us how to run the country--in that fascist parthnership with Obama's/leftist/establishment Republican Big Government central planners.

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