Wednesday, November 25, 2009

I Am So Breathless

This image is from MarketWatch just prior to today's open.

When I see stuff like this, I am just left breathless as I am struck with fear that the stock train has left the station without me. My goodness after a 60% plus run in the market, stocks are "accelerating" higher. I better jump on board!!!

How about the "before the bell countdown"? I better sync my wristwatch to the exact second so I don't miss a single tick.

Or how about the cry to take your "battle stations"? Such imagery and such foolishness. I can just see myself strapped into my chair in front of the computer with my Army helmet on ready to go. "Battle stations. Are you ready? The market opens in 26 minutes and 23 seconds."

I don't know why anyone would find any of this useful. It perpetuates the image that the stock market is nothing more than a casino that can be gamed on a consistent basis. I think this is particularly hard to do day in and day out. Get out the pom poms as we take one poorly constructed data point, put a positive spin to it, and hope that it juices the market.

Excuse my cynicism but I just wonder where is the value in such hysteria? It may be news but it is not newsworthy.


dacian said...

Hi Guy

I had a comment like "this thing will never fall again"; such a great country, selling derivatives and toxic financial gadgets to the rest of the world now offers such a great show (which makes me throw out).

Government is such a nice group, handing free money and programs around still many thing this is a good thing; the market enjoys robbering the middle class.

I actually hope this will continue and the gap between Wall Street and Main Street will become even bigger; unfortunately, only such a path will terminate this policies and get rid of incompetents.

We heard theories to let markets sort things because they will get rid of incompentents and reward the honest working people and companies; really? how if those making the market are the incompetents? will they reject themselves out of the casino or set it up so they can cheat even easier?

Again, this thing will never ever correct! Up every day until the end of days!

Anonymous said...

Guy, just remember, ALL major media outlet is our government's puppet... our financial world cheerleader...

Guy M. Lerner said...

It tis the hand we are dealt

Dave Narby said...

I find this information very useful.

But I am clearly a contrarian.

Winkinatcha said...


This is nmy first real bear and subsequant (bear market?) bounce, so am basically a newbie.

But... the more excitement and europhoria I be seeing the happier I am that we are getting a good tell prior to a bit of a collapse... maybe.

That is... i'm with the Dave guy above.