|
SWSD | OK, I am mostly a lurker, but this is an interesting conversation to me. In the old days when I first bought stocks and stuff, you would get in your car and drive down to the guys office and he would proceed to educate you about PE ratios, blah, blah, you know the fundamentals of whether a company was making money or was likely positioned to in the future.
Then you would buy one of his recommendations (which was really based upon which quota would get him a trip to Hawaii). Then sit and wait, buy the Wall Street Journal now and then and look up your stock, and in a few months maybe consider another action.
Now of course, it is lightning fast, and in fact how fast you can move electrons can actually determine your success. So, to my question if you have bothered to read this far. To what extent do you think all the chart guys, and computer programs, and quick trading, inside trading (yes it happens all the time, get over it) really drives the markets? So in effect at least some degree (maybe a large degree) of fundamentals really go out the window and you are really playing a computer game against like minded folks who really don't produce anything? That's a freaky game to play if you think about it. Trying to con a con man is good stuff though.
In other words, I think supply and demand is still a force, but don't traders really define the market these days? Kind of a shell game... no? Makes for weird market moves that of course gets explained in detail the next day, or in the random I told you so from a lucky ass guess prior.
I think money of the commons needs to move in another direction - the exchanges are quickly becoming for the few, the fast, and the lucky. It is like labor unions, it was good at first, but it eventually ate itself. | |
|
Charts - Monthly
