by nathan28 » Fri May 21, 2010 4:29 pm
No economist in his right mind uses the term "support." Economists' jobs are not to predict stock prices. If an economist is talking about support levels on a stock, he's speaking outside his expertise. Additionally, whenever anyone talks about a support level, they're guessing. That's all. They're telling you it will profitable to by at a certain price and sell at a higher price. They could be very wrong.
Second, the Economist isn't a psy-op and it's not contrarian. It's following the classic efficient market rules: by the time everyone knows that something has happened, it's been factored into the price. If Goldman bets on a big hurricane season, and makes those plays on Friday, by the time you hear about it on Monday when the press publishes the memo, Goldman already bought all that stuff and raised the price. You missed it.
Also, Martin Armstrong is not a hero. Yes, his being held coercively, rather than punitively, for five years, is a really big as far a precedents go. Arguably he should be released for that alone. But he is not a political prisoner. He is a Ponzi-scheming charlatan. He has not discovered some market secret; his is not a market wizard. He is a fraud. By his own admission his Ponzi scheme was an effort to correct for losses he made. In ONE INSTANCE he successfully called a stock market drop (not turn, drop) to the date. ONE. He was wrong on EVERY OTHER supposed "turn" he called. I hate to break this to anyone, but if your trading strategy counts "close" calls as winning moves, then you may as well start mailing cash to the nearest Goldman office. If you think you have enough liquidity to start picking market tops and bottoms and believe you can afford to be wrong by a margin of six months--which I've seen some Armstrongtards claim as his margin of success--you're either loaded enough that it doesn't matter of completely, utterly full of shit. A near miss costs just as much money as a far miss. If the gov't locked people up for figure out how to make a bunch of close but wrong calls, there'd be a lot more retail traders in jail. The fan club Armstrong has on the internet only shows his persistent ability to bilk the unwitting.
This is exactly the sort of crap you see with Moon Landing Hoax theory. The real psy-op isn't a fake landing on the moon, it's that you missed the simple fact that the rocket industry--you know, ballistic missles, MIRVs, star wars contractors, aka, the MILITARY INDUSTRIAL COMPLEX--got massive free press from it and no one even noticed. It was that subtle that they actually put a human on the moon and still people failed to notice that it was part of, gee, the Cold War, WHICH FOR FORTY YEARS THREATENED TO DESTROY HUMANITY.
Same shit here. Oooooh, the mystical, magical powers of Armstrong and the technical analysts. The secrets of "support" (how secret can it be if you can draw a straight line?). Psy-ops at the Economist and every other magazine to misdirect the reading public about the actual movements of the markets. No. The actual psy-op at the Economist is that supposedly intelligent people in the US read a neoliberal propaganda rag every issue and don't realize that's what they're doing. The actual psy-op is that the entire fucking economy is virtualized and no one notices. It's that Goldman & Friends have made a fucking killing off neoliberal reform while actually contributing nothing--nothing, beside showing how profitable it is to underwrite speculative ventures and if you underwrite enough you get taxpayer money when the bubble bursts--which has supposedly "lifted all boats"--bullshit. There is no "Market Oracle." It's fucking controlled. Some people make money at the margins, and they do that with what they call "discipline," which means nothing more or less than planning their position sizes, their entry points, their exit points and their risk tolerance ahead of time. That's all. They aren't magicians. There is no magic.
„MAN MUSS BEFUERCHTEN, DASS DAS GANZE IN GOTTES HAND IST"
THE JEERLEADER
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