Price on the Screen is a Fact. A fact that results in real transactions. On the other hand, the intellectual argument is just a random opinion completely divorced from the reality. What people forget - The Market has a mind of its own and he does not give a damn what you think. Listening to market experts is complete waste of time
When it comes to financial markets: Here's the basic fact -
"Market commentators know absolutely nothing and pretend they know everything"
— Deepak Singh (@smarket) June 26, 2016
Example: Close your eyes and think about countless Bearish Opinions/Intellectual argument you have come across about US stock market in last 18 months like this one -
'Sell everything,' DoubleLine's Gundlach says: NEW YORK (Reuters) - Jeffrey Gundlach, the chief executive of ... https://t.co/3GE1J28hKb
— J. David Morris (@JDavidMorris) July 30, 2016
But what has market done
Now the above move looks random but it is not - A picture perfect breakout
The lesson for the day:
It's important to follow the opinion of the market. The market conveys that opinion in a language called "Price Action". Hence, the only intellectual debate you should engage in - Why the market is doing what it is doing. It helps one build conviction in the Price Action of the market
Please let me know what you think of the above.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers