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What Would Elliott Say 8/31/20

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As much of a preternatural bear as I am, I find most permabears clueless about how the market works, and tiresome.   Guys like whathisname that runs the mutual fund who is always wrong. I mean al

Trade what the fucking market gives you for god's sake. How hard is that to do? If the Fed is bidding the market up day after day, that's fucking reality, man. Deal with it. 

I mean really. Why do we let people run around in crowds with AK47s? If burning down stores and throwing bottles of shit isn't ok, and it isn't, then allowing people to walk around with AK47s, or any

2 minutes ago, DrStool said:

Who's getting shit on in the Dow? Just noticed the divergence.

Isn't today the last day before they add Salesforce, Amgen and something else as Dow components, and take out Pfizer, Exxon Mobil, and Raytheon? 

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3 minutes ago, DrStool said:

I love how the averages shape shift over time.  

I saw someone mention the other day that if Apple had split 20:1 instead of 4:1, it would be kicked out of the Dow even though it's a $2T company. 

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1 hour ago, PullMyFinger said:

Isn't today the last day before they add Salesforce, Amgen and something else as Dow components, and take out Pfizer, Exxon Mobil, and Raytheon? 

Yes, correct.

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2 hours ago, DrStool said:

As much of a preternatural bear as I am, I find most permabears clueless about how the market works, and tiresome.  

Guys like whathisname that runs the mutual fund who is always wrong. I mean always. The guy has been bearish since the 2009 low. But man does he have great data on how overvalued the market is. 

People fail to understand that value is fictional. It's a mirage. Things are worth what you can sell them for.  

WTF is the value of TSLA? I mean really. Who cares. Look how much fucking money the morons who trade it made. 

And then there's that bloviating chemistry professor who is absolutely clueless but loves to hear himself bloviate. 

And people believe that shit. They lap it up.  

That is your best market related post ever. A classic, a keeper. Should be printed at a prominent place on the website. 

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1 minute ago, fxfox said:

That is your best market related post ever. A classic, a keeper. Should be printed at a prominent place on the website. 

Who is the chemistry professor? and Whathisname?

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I don't want to mention names. But they are both well known. The mutual fund guy, and the chem professor who posted here at the beginning before I told him to get lost.  LOL 

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The MF guy is a permabear hero. He's famous for reams of data and flawless logic, and he is always wrong. 

ZH used to feature his work all the time. 

BTW, did youi see where ZH settled a copyright infringement case that Dow Jones brought against them? $140k.  

 

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And then there's Russ who turned into a flaming antisemitic conspiracy theorist. What a miserable POS. 

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Reminder - the Dow is price weighted. The biggest price changes carry the most weight, which usually means the highest priced stocks, regardless of how small their total capitalization is. 

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