I've mentioned here many times that I once took a market course led by one of the premier technical traders ever and that one of the things he emphasized is that when the herd gets into something it's time to get out; "When you see a picture of a pound of sugar on the cover of Time Magazine it's time to get out of sugar." His reasoning was that there are not less qualified people anywhere to comment on things economic than the media. Going down this path today leads us to our TV Media, particularly the Left Wing "comedy" shows. Over the past few days all the morons (Daily Show and Comedy Central) dumped big time on the Markets, Bush, banks and so on. Don't do anything suggested by their moronic commentary. The mere fact that they comment negatively tells me to go long on what looks good. Those kinds of people can never be right.
No comments:
Post a Comment