Wall Street traders are again today proving themselves the Stupidest People on Earth.
Ben Bernanke says "the economy will recover" (someday). And the commputer programs go ino action, pushing the Dow up more than 250 points. There are a few other straws in the wind that a few things are not as bad as they might be. But there is no "news" to justify this kind of move. Again, if lyou buy stocks on any day when the Dow is already up 150 points, then you deserve a Darwinian award, and should not be allowed to reproduce. You ARE one of the Stupidest People on Earth.
Note again that I am not saying that the market "should" not go up today. A bounce up is due, and there are those few straws indicating a slightly positive attitude might be in order--a CAUTIOUS attitude. Ben Bernanke's statement, which is maybe the main reason for the sick computer gamers on Wall Street going into action, is NOT one of those positive sings. It is the magnitude of the move, like so many other such moves since October, that is so stupid.
Ben Bernanke is the second worst failure in the history of world finance, behind only Henry Paulson. That means there is nothing he could possibly say to which it is worth listening. If you trade stocks based on what Ben Bernanke says, you are again branding yourself as one of those Stupidest People on Earth. What Ben Bernanke says has nothing to do with the actual economy. If you doubt that, consider that Ben Bernanke was appointed tow years BEFORE this severe recession, and did not either predict it or do anything to stop it arriving. The main is an abject, total failure.
Nope. I have said thsi some 20 times since October, and been right every time. Who knows whether the market will be up or down a week or a month ago. But if you buy stocks after the Dow is up more than 150-200 points in a single day, you are merely branding yourself one of the Stupidest People on Earth. Further, that kind of wild market move is BAD news, instead of good news. Itr is just more evience that Wall Street has become a computer gaming casino--sick to the core and populated with massively stupid people.