The Day Ahead: Why the Fiscal Cliff is a WMD
First, got to attend to some business. To the person that inquired whether I incorporate Elliot Wave Theory into my analysis, the answer is no. I can honestly care less about Elliot Wave Theory. All of my attention is 100% on utilizing every piece of fundamental analytical training I have been taught, as well as talking with the stock market on a daily basis. By all means, enjoy that Elliot Wave Theory. It's just not a tool that I will be using anytime soon.
Moving right along, observing the markets on Wednesday and I couldn't help but imagine a game of children playing telephone. There were a whole bunch of made up theses on a slow day for news. The issue I saw was that consensus wisdom on the fiscal cliff continued to leave the market too optimistic for the stone-cold truths poised to arrive in the next week or so. But a few of the weak lines of reasoning were:...549 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.