Wall Street: The Stupidest People On Earth Continue To Expose Themselves

"U.S. stock indexes tumble, losing more than half of gains run up in the Dow's' five-day winning streak, as gloomy worldwide economic data take the wind out of last week's rally."

The above is from MarketWatch.com. Is it true? You know it is not, if you read this blog. One reason to know it is not true is that the people of MarketWatch.com, like the people on CNBC, are some of the stupidest beings that have ever walked on two legs on this planet--maybe the stupidest. So anything they say is automatically suspect. But the above is more proof of their absolute, abysmal, irredeemable, unrelenting, stupidity.

The market went down so far today for the same reason it went up so far the previous week: computer program, momentum trading. Basically the market went down today because it went up last week, as the computer gamers on Wall Street keep gaming the broken system.

Yes. You have a simple test as to whether you are on of those stupidest two legged beings who have ever walked on this Earth. If you continued to buy stocks last week, as those fictional rallies (almost always in the last hour) continued, then you have admitted you are one of those people. What if you are a "computer gamer"? Doesn't save you. You just are then confessing to being evil, as well as stupid, as your attempted computer manipulation of the stock market threatens to destroy the entire world's financial system (which includes you). There remains no excuse for anyone to buy at the top of these rallies, as there is no excuse for anyone to be selling in the last half hour today. People buying after the Dow is up 200 points in a day (or 1000 points in a week), or selling once the market is down 400 points (more leeway here because these big down days are partially in reaction to these irrational up moves, and the overall news is pretty bad), is admitting total and complete stupidity. Doesn't help if you were forced into this stupidity by your short term trades, meaning you had to "short cover". If you put yourself in that position, after the way the market has recently acted, you are just as stupid as anyone voluntarily buhing or selling at the top of these short term rallies or sell-offs.

What happens in a rational, not-broken system? Easy. These swings diminish. Why is that? It is because each swing back and forth tells rational people that these big daily market moves are fiction. Therefore, rational people stop buying as the up days look like those fictional up days that have occurred multiple times before, and they don't sell (even buy) as those fictional last hour drops accelerate a down move (as happened today, although the market was down all day).

I heard someone say today that the average intra-day Dow move in the last 50 days has been 4%. That is conclusive evidence of a stock market that is broken. Do you not think that rational people should stop driving the market up and down like this, as it is obvious most of these moves are total fiction? Yes. But no one on Wall Street is rational anymore, and the whole system is irrational.

What about the financial "journalists". Forget it . They are the only competitors to Wall Street people for the supidest beings who have ever walked the Earth. Was the "data" today really worse than expected? Were Obama's words, financial team choices (the false, stupid reason given for the rally last week), ever going to change the data this week, which was always going to be bad? In fact, was not the data last week mostly terrible, indicating that this week's data was going to be just as bad? Of course. So how stupid were you to buy irrationally last week because of mere political symbolism? Well, only some people were that stupid. That was not the real reason the market went up--just the triggering impulse for the computer gaming that was the real explanation for the irrational last hour rallies last week.

That is why I was not really too hard on Rush Limbaugh and Sean Hannity for calling this the "Obama recession", and blaming Obama for the worst opening stock market of nay Presidency in history. Did not the insane, stupid media give Obama credit for last week's totally fictional "record" rally? The media gives Obama credit for the rallies, and no blame for the drops. Limbaugh does the opposite. Both are mainly assigning blame for partisan reasons. Limbaugh is just not as stupid (overall).

Yep. Today was the wrost December 1 market move since 1929. It was the worst 1st day of the month since 1932--just as last week was the "best" Dow move over that period of time since the 1930's. Doesn't mean a damn thing, when every market move is exaggerated by program trading (the stupidity of looking at Dow moves on 1st days of months, and similar "historical absurdities I leave as an exercise for the reader).

This is all stupidity run amok, as people--with a straight face--try to give fundamental reasons for fictional market moves (fictional in the sense that there is no fundamental economic reason for that large a market move).

No one but me is stating the obvious: Our stock market, and really all of our financial market trading, is broken, and someone needs to be trying to fix it. No one is. Is everybody but me insane/stupid? That way lies madness, but I have this disturbing feeling it is absolutely true.