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11:02
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Originally posted by nine lives
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moe, moe, moe, you bears will have your day. A leading poster once said to me that price is king and he was right. But my response to him was that if price is king then time is the high priest. I kinda like that description because there is something mystical about the aspect of time in the markets. Price we can understand with our earthly rational minds. Things are bad so price goes down, things are good price goes up. That's pretty easy to comprehend.......but why do things take as long as they do to turn around?? Why do we have sayings like "Climbing the wall of worry" and "when bad news is good news" and conversely "when good news is bad news"?? Why will CNN tell us one day "Dow slumps on lower oil price concerns" and the next day tell us "Dow soars as industry takes heart from lower energy costs"?? Are these type of headlines the real market drivers or are they just convenient sound bites for financial journalists who need to meet a daily deadline??
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I think the head lines from new's has done a fantastic job at sending prices up for no real fundamental reasoning... The few resources that have seen gain's of late look to be seasonal or hype.
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