Don't believe all that you read?

[titus-uk]

A question really.

I like ftmarketwatch.com.

However, we have said before how papers (virtual or otherwise) often act as good contrarian indicators. If they say buy, you are better to sell, and vice versa.

So with the front page going on about the bulls being back in business (3 articles), and 50% readers believing this is a genuine rally (45% believe it to be a sucker rally), then methinks that I am glad to be in cash. And I will stay that way for a few days - I sold IQE on friday, and hope to buy it back in the near future (cheaply), to catch the rise again.


Why am I pessimistic? Its been a good few days, people are looking to even up losses, feeling happy. So if bad news comes, all the doubts come back, despair, fear of prev. failures and they sell.

And remember many shorters will have sold midweek and will also be in cash - and see many stocks at resistance levels, and will be thinking "I wonder if I can do it all again"!

Maybe I am wrong - we will soon find out!

Mark

 

[troyresearch]

Hi Mark

It's been a fun couple of weeks going long on shares - almost made me feel nostalgic... If you want an idea of how ludicrous things have become - a recent survery of local estate agents has revealed that property prices in my area of London have increased by 20% in 3 months. What a fool I've been pouring my money into the markets when some twat in an ill-fitting suit with an intellect to match that of your average housefly can secure my future by telling some other twat with a ludicrously high salary that s/he's making a wise investment. Bitter? Surely not... (Though the one thing I'm really looking forward to come this downturn is seeing certain twat from estate agent down the dole office). Sorry getting carried away now...