Late April, 2019
In Other words: What the market is doing today is what it will be doing into the future, except more so.
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In Other Words: What the market is doing today is what it will be doing into the future, except more so.
I too had been part of the market crash mania at the end of December and proclaimed such in these missives. Sometimes with great enthusiasm. While I still espouse the principle of "What the market is doing today ...." there is one small but important change to the declaration, one that can decimate a too enthusiastic alliance with the current trend:
What the market is doing today is what it will be doing into the future, except when it doesn't.
The crash of the 4th quarter 2018 did not extend beyond Dec 27, 2018. The robust rally of 2019 will not extend beyond ________ (fill in the date). To suggest that there is a melt-up on the horizon is just as much a wild guess as it was to suggest late last year that the worst of the market crash was still to come.
DO NOT LET YOUR EMOTIONS GUIDE YOUR INVESTING, NOR YOUR TRADING. THIS IS A BUSINESS, NOT A FOOTBALL OR HOCKEY GAME. JUST BECAUSE YOU WANT YOUR TEAM TO WIN DOESN'T MEAN YOU BET YOUR LIFE SAVINGS THAT IT WILL.
Excerpt from: "Lessons Learned: A Lifetime of Winning, and Losing" - By Allan Harris
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