The list of "deep truths" is sketchy at best; the first 3 are hogwash; when the fed says it is going to "pump liquidity into the market", isn't that just another way of saying that it is going to prop up the market? And anyone with a solid technical foundation (like me) will argue that it is precisely via "technicals", in greater or lesser detail, by which the market behaves. Good stocks go down if the broad market goes down, bad stocks go up if the broad market goes up.
Author of The Psychology of Trading (Wiley, 2003), Enhancing Trader Performance (Wiley, 2006), and The Daily Trading Coach (Wiley, 2009) with an interest in using historical patterns in markets to find a trading edge. I am also interested in performance enhancement among traders, drawing upon research from expert performers in various fields. I have taken a leave from blogging starting May, 2010 due to my full-time work at a global macro hedge fund.
2 comments:
Doc,
I really like the Four Pillars!
Thanks,
Madi
The list of "deep truths" is sketchy at best; the first 3 are hogwash; when the fed says it is going to "pump liquidity into the market", isn't that just another way of saying that it is going to prop up the market? And anyone with a solid technical foundation (like me) will argue that it is precisely via "technicals", in greater or lesser detail, by which the market behaves. Good stocks go down if the broad market goes down, bad stocks go up if the broad market goes up.
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