Keeping Up With the Dow Joneses
In recent years I've been surprised by how little excitement there is for big moves like today's. The folks on television shake their pompoms and pretend that they have played the market to perfection, but what I don't see are individual investors who are pumped up about catching a big run and are eager for more. The more common emotion seems to be "I can't keep up with this market and I sure wish it would pull back."
I've struggled to find an explanation for why this is the pattern of behavior in recent years. I suspect the primary reason is that the action is driven more by computer algorithms, because individual participation in the market has dropped steadily for several years. People have always complained that the market is manipulated, but the disconnect between the economy's performance in recent years and the market's behavior has resulted in a widespread feeling that there isn't any rationality. In addition, many people have been badly burned by two major collapses since 2000 and they are sapped of confidence....103 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.