You will notice that the Stupidest People on Earth lost again yesterday by ignoring this blog. Or have some of them started to pay attention?
Yes, this blog was again correct yesterday. But this time there was not even a delay in proving me correct. In yesterday's entry about the Stupid people on Wall Street, I again told you that only the Stupidest People on Earth (basically all of Wall Street) continue to buy stocks (during that day) when the Dow is already up 150-200 points.
When I said that, the Do ow was up approximately 150. As predicted, the Stupidest People on Earth continued to drive the stock market up, to the point that the Dow was up close to 250. However, a strange thing happened. People stopped buying, and some selling appeared. The Dow went straight down 100 points (about the maximum it should move on an entirre ordinary day), to end up "only" 150 points (which is the maximum percentage the Dow should ever move, except on truly historic days). Are people on Wall Street getting smarter, or listening to this blog (since bung dried up, and selling came in, when th stock market bagan to make one of those irrational, momentum moves)? Don't count on it. As I have said, people on Wall Street are incapable of learning.
Note how smart Wall Street has made me look, My accuracy rating has gone up from 99.2% to 99.5% solely because of Wall Street (along with the fact I have made no other recent mistakes). Since October, I have never been wrong in my entries--made in foresight and not hindsight--about the actions of the Stupidest People on Earth on Wall Street.
No, I don't know which direction the Dow will move today. Since the Wall Street backed off of the fictional, momentum, computer gaming move yesterday, the stock market has a better chance to go up today. Again, in a healthy stock market, when the overall economic situation has not materially changed (almost always the case, since one day events rarely are enough to materially change the entrie stock market outlook), buying should decrease in irrational up moves, and should increase in irrational down moves. Selling should do the opposite.
Instead, Wall Street has been exaggerating up moves, and exaggerating down moves--resulting in these wild, daily gyrations. This has been true even though it has been obvious that people who have bought at the top of the irrational up moves, or sold at the bottom of the irrational down moves (little less obvious here, since the news has been so bad that the market overall has trended down), have lost every time.
Yes, I was also right that the stock market was again ready for a "bounce" UP (despite the S & P 500 "breaching" the "technical level of 700. Don't you just love technical analysis--sarcasm). It is impossible to know whether that bounce will continue. What is possible to know is that only the Stupidest People on Earth will ignore this blog and push the market up on pure momentum--only to predictably lose as the fictional up move is reversed. Only people really good at the game of musical chairs win in that kind of casino type trading