Well here is one opinion, from someone that has traded for a living for around 30 years
There is no Smart Money
I cringe when I read or hear someone talking about the Smart Money. The implication is that you are Dumb Money, which may be true, but I'm afraid there is no echelon of smart people out there that always have the jump on you. Smart Money simply refers to anybody that bought at the bottom or sold at the top but unless they can do that consistently, it's more likely they're just Lucky Money. The only genuinely smart money in the markets is not actually smart, it is just big, because the Big Money can start and finish trends. So when the head of investment at Fidelity decides to sell resources and hands out orders to sell $50 billion worth of resource stocks, resources peak and start to fall. In reality, the head of investment isn't necessarily smart, he just has a lot of money. I don't think anyone's really "smart"; there is simply a level all investors or traders get to with experience and below that there are just different levels of dumb.
88E Price at posting:
3.0¢ Sentiment: Hold Disclosure: Held
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