July 24, 2009
– Comments (3)
It seems like the rumors of its death have been slightly exaggerated. On the other hand, esoteric charting strategies are definitely beginning to acquire cadeverous look...
I think the issue is that the changeover between a buy-hold market (which may last for decades) and a trading market (which may last for years) is rare enough that it hits a problem with human pattern recognition. We can't see patterns that happen on that timescale, so we think the existing condition is permanent.
Bought some Citigroup today for my IRA. For weeks people have been debating how much it will be worth in 1-3 years. $4.00? $5.00? 7.00? Nobody is saying it will be worthless. I am willing to buy and hold this one for 2 years in an IRA where I don't trade much anyway.
motleyanimal, I'm saying C will be worthless in 3 years. Also RBS, FHN, KEY, TCO, AMR, UAUA, ARM, TEN, SAH, AMD, TLB, RAD, NYT, SIRI and PALM in case you were wondering.