“Some call it idiocy, I call it innovation.” – Unknown
I see many calling for how stupid the market is for going up and how stupid the EU bailout plan is, even calling for it’s eventual grand and splendor demise in the future. What most of these people are doing, in my opinion, is fighting the tape. Not that I’ve never fought the tape myself, I have. We all do from time to time.
What’s important is that you realize you are in fact fighting the tape. Maybe even more important than this is realizing you’re not going to win that fight. Your opponent is bigger, tougher, and believe it or not, smarter than you. If you were all of those things you’d be the one on the winning side, wouldn’t you? Saying “The market is retarded” and then justifying your statement weeks later when the market has swung back in your favor is well, retarded. The market didn’t swing back into your favor because everyone realized how stupid they were and just how smart you are.
Do yourself and your bottom line a favor. Try not to fight the tape, no matter how insane it may seem at the time….
If you enjoy the content at iBankCoin, please follow us on Twitter
Yep. Definitely agree. Financials killing it too. We won’t go lower unless they do – could be the tell.