Tuesday, August 10, 2010

A sure way to lose

A message from Nightingale's The Greatest Secret" continues to come to mind in this market. He summarized that if you do what the overwhelming majority of other people are doing, you will fail 95% of the time. He called it "following the followers".The Bears continue to express their doom and gloom and many investors are following these financial media "pundits" or their pessimistic advisers. it is easy to do - you don't actually have to do your own homework. We continue to think the jobs numbers were positive and the decrease in worker's productivity was encouraging. A decrease in productivity means there may have to be an expansion to hiring. The technicals are moving the market (which is a large sum of money) and all it will take is a slight move upward and they will change their "hard thought opinion". We continue to be bullish (since early July) until these lemmings slowly but surely switch sides and start following new followers