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Anyone see any pattern? Anyone? The answer is there is one. This is the primary reason the market has me concerned -- we are essentially directionless, trading between several points. There is some good news in this -- namely, we're not engaged in a massive sell-off. That tells me that so far, traders aren't concerned about a big economic fall-out. However, we're not moving higher either, which tells me that traders are waiting for ... something.
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"we're not moving higher either, which tells me that traders are waiting for ... something."
Or rather, it's an extended, market-wide "hold". Among the painfully perverted terms "buy", "hold" and "sell", "hold" is the most twisted -- for what should be a common, common-sense term.
I'm speculating, but I daresay the traders ran out of optimism yet lack any reason to panic. Today's traders are a fickle bunch, and yet they find themselves standing pat, maybe waiting for some RoI. Unusual, yes, but I don't know they realize what they're actually doing.
So, don't tell them that. You wouldn't want them to go back to moving around just because. I'm sick of bubbles.
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