Trader Terrified Of Moment “Everyone Heads For The Exits”
by Tyler Durden
ZeroHedge.com
May 25, 2017
“Markets are never wrong” is indisputably correct from a day trader’s perspective – the only thing that matters is getting it right about whatever the next price lurch is going to be. People want to know where the orders and stops are. Which way the market’s leaning for the algorithms to attack. From this vantage point, Bloomberg’s Richard Breslow notes, we get all sorts of trading rules that boil down to stressing technical and risk discipline over any notion that understanding the fundamentals is relevant.
And, of course, this has fully ingrained into our psyches that “it’s better to be lucky than smart.”
Looking at it this way, Breslow explains, the Fed was dovish in their minutes yesterday. After all, the dollar got hit, bonds jumped, equities leapt. How could you read it any other way?
The Rest…HERE
