When Obama endorsed Macron, folks scoffed and said “well, he endorsed Hillary and look what happened.” When Gundlach says to short the S&P 500, folks warn and say “well, he predicted Trump and look what happened.” I hope that all you traders and investors out there are getting the message that a source with a one-win track record (or even a 25% win rate in the case of the Hindenburg Omen) is not the most solid foundation in which to build a strategy on.
So what about volume then? Well, if volume is the ground which upholds the market, then the indices didn’t have much to stand on Monday as overall volume didn’t budge, so more SIDEWAYS is likely to come. And then there’s Warren Buffet, who discloses his stake in Apple causing shares to skyrocket… Hmm now maybe there’s someone with a track record worth paying attention to. -MD
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