Markets Move After Everyone Gives Up

October 31, 2018

Is it safe to go back in the water? Merely asking that question is to suggest that only an imbecile would dive fearlessly back in the drink. Even so, there are most surely enough imbeciles to keep stocks buoyant in the days or even weeks ahead. If they eventually are joined by panic-stricken bears as sometimes happens, we could see a rally capable of persuading otherwise sane folks on the sidelines that new record highs await. ‘Trader Mike’ caught a fascinating aspect of the game in the chat room today with this wry observation concerning market psychology:  “Markets require people to give up. Read the Turtle book. The Turtles got their brains bashed out trading coffee, then they decided to stop trading coffee, then it produced the largest single trade in the history of mankind. That’s how it works. I exaggerated a little. I’m sure Bitcoin is the largest trade ever, but you get the idea.

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The word ‘silver’ originates from the Old English Anglo-Saxon word 'seolfor'

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