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Stocks & Commodities V. 28:2 (98, 96-97):At The Close by John McKinnon
Stocks & Commodities V. 28:2 (98, 96-97):At The Close by John McKinnon
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At The Close by John McKinnon
Do you know how you will react under specific circumstances? Do your emotions keep getting in the way?
Sometimes, the market is described as a living organism with a personality all its own. In an effort to understand this elusive quality, many traders rely on technical indicators to monitor and predict the state of the market. Others utilize models for measuring the microfundamentals of individual stocks or the macroaspects of economic trends. Experienced traders usually develop their own customized mix of indicators and/or fundamentals that works for them.
However, these same traders will often tell you that the indicators dont always do what theyre supposed to do; that is, they dont always cooperate.
MARKET ACTIVITY
Despite our best efforts in calculating complex patterns, we still refer to market activity mainly in emotional terms:
Abc stock soared on new product sales: Euphoria
Investors stampeded for the exits on Xyzs dismal earnings projection: Panic
PQR hit it out of the park with its new executive appointment: Cheering crowds; power; a winner!
The hedge funds that shorted were crushed and shredded when the stock unexpectedly reversed: Annihilation, uncertainty, fear
The news media makes an attempt to put a brave face on the markets behavior a reason behind it. To hedge their bets, some Internet sites actually have two stories ready for print, one if its an up day, the other if its down. More often than not, the behavior is inexplicable.
Do you know how you will react under specific circumstances? Do your emotions keep getting in the way?
Sometimes, the market is described as a living organism with a personality all its own. In an effort to understand this elusive quality, many traders rely on technical indicators to monitor and predict the state of the market. Others utilize models for measuring the microfundamentals of individual stocks or the macroaspects of economic trends. Experienced traders usually develop their own customized mix of indicators and/or fundamentals that works for them.
However, these same traders will often tell you that the indicators dont always do what theyre supposed to do; that is, they dont always cooperate.
MARKET ACTIVITY
Despite our best efforts in calculating complex patterns, we still refer to market activity mainly in emotional terms:
Abc stock soared on new product sales: Euphoria
Investors stampeded for the exits on Xyzs dismal earnings projection: Panic
PQR hit it out of the park with its new executive appointment: Cheering crowds; power; a winner!
The hedge funds that shorted were crushed and shredded when the stock unexpectedly reversed: Annihilation, uncertainty, fear
The news media makes an attempt to put a brave face on the markets behavior a reason behind it. To hedge their bets, some Internet sites actually have two stories ready for print, one if its an up day, the other if its down. More often than not, the behavior is inexplicable.
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