November 3, 2020
Market Internals Election Day 2020
“buy the rumor sell the news”, “buy the recession sell the recovery”
Did you ever wonder why traders say that? Are they merely words, hip, trending with no substance? Maybe one reason is smart money needs a liquid market to buy and sell into, respectively. Because dumb money thinks the market is the economy.
The public becomes brainwashed by the media both network and social promotion with the intuitive line of good news for the economy is good news for the market moreover the market factors in the news, the market is a discounting system. Otherwise, how can the market be explained? Well, the market is not a discounting system.
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