scotcianci

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    • Wed Apr 2nd 14:29 PM | Rating: 0 0
      Commented on:
      Why Yesterday's Optimism Wasn't Warranted
      The main problem is the market (fueled by the bubbleheads at CNBC, and permabulls like Cramer) being driven by only one piece of news at a time. They can manipulate it to make it sound great, when viewed one piece at a time. But they are ignoring the forest fire to admire a single piece of grass growing. When taken together, there is no justifiable reason for the market to keep moving up. NONE.

      As far as the market being a forward-looking discount mechanism, that is true, but the timing for us to be forward looking is not yet here. That should begin once things have settled and growth has flattened out...not when it is plummeting. There is still to much nebulous action ahead. Going ahead and calling bottom when you are still falling and reaching up instead of bracing for impact is called speculation.

      The problem there is, and the root problem of all of these messes is pure, unadulterated greed. No one can fathom losing any money so they keep buying to fulfill their own feelings of supremacy. They won't allow the market to fall because they have been fed/told all their life that they are perfect and wonderful and they can do no wrong, and they actually believe it. This type of person will grasp at any shred of silver lining just to keep their fragile sense of self alive. Many of these people are analysts, who feed us their bs lines such as how Lehman severely diluting their EPS is a "good thing". Or how a manufacturing number that is horrible is actually "good" because it is better than their intentionally grossly lowballed estimate. tHey want to be the one to say in 5 years, "See how great I am? I called the bottom!" So they keep making predictions, because 99% of the population will only remember the one that finally came true.

      I know this all sounds crazy, but investor psychology drives the market much more than fundamentals these days. This is what fuels excessive exuberance.
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    • Wed Mar 19th 16:33 PM | Rating: 0 0
      Commented on:
      Goldman Sachs: Earnings Bad News for Doomsayers
      This sounds like the "news" coming out of CNBC on a daily basis - that everything is great and all will be rosy "soon". There is not one single piece of good news in this market, not in GS, LEH, or anywhere else. The recent economic news has been overlooked thanks to Kommisar Ben and the Socialist Police's horrible decisions this week (and since last fall for that matter). GS and LEH beating "estimates" from analysts who are being prodded to lowball in another attempt to hold 12,000 are useless and meaningless. We need a nice 1000 point plummet to wake everyone up to reality. See you at the pump with $4-5 gas by summer's end. Thanks, Ben. I'll send you an Economics 101 book for Christmas. You might learn something.
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