When the market move to extremes (up or down) we often search for the counsel of someone who can offer some advice, or at the very least put some sense on the moves. Yet, with the enormous moves up, down and then back up again just in the last six weeks we still find ourselves searching for answers. Even the ones ‘in the know’ are dumbfounded.
This is why the market action will give you all the answers you need to create a picture of forward progress. I’m not trying to spin bullish action here, rather just trying to show you that even the most astute market sages will get it wrong – often. Just a couple months back we heard hedge fund experts such as Icahn, Tepper, Soros, Druckenmiller and even Bill Gross telling the world that it was about to end. We have all heard such predictions, but the end of the world comes only once – and I don’t think it has happened just yet!
These gurus failed to provide the correct advice for us to navigate the market, yet the charts/technicals could have told the story and at least given us a sporting chance to either get it right or just stay in the game. We’re in a constant battle to survive, from day to day or week to week, and NOBODY has our best interest at heart. NOBODY. Hence, we need to continue learning, evolve, watch and observe while the market does its thing. Leave the experts to their opinions, because at the end of the day – they know little more than you do!
