shorting fmg, page-25

"I will believe sentiments have changed when greece sort itself out :)"

The horses will have bolted out of sight by the time that news actually happens.

Believe me, I do understand the argument that price follows fundamentals. It took me a long time to realise that the reverse is actually the case, and once I realised that, it all became much clearer.

It goes something like this;
1. The price starts to rise but the skeptics won't have a bar of it.
2. The rise continues and a few skeptics try to find reasons, but give up waiting for the bad news to have its presumed effect.
3. The rise starts to gather momentum, the skeptics scratch their heads in desperation.
4. The FOMO rally starts, prices power ahead as the fear-of-missing-out factor kicks in.
5. The anticipated bad news is announced and ignored.
6. Those who are in sync with this scenario think about taking their profits, meanwhile,the journos and other experts start predicting boom times ahead.