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« Dow Jones vs. the Monetary Base Chart | Main | WSJ: Put Down That Shovel! »

November 02, 2009


Randle G. Reece, CFA

I wish I'd been keeping score, so I could say something definitive. It simply feels like, more often, when my stocks inexplicably drop between quarter end and earnings date, it's only some shorts taking advantage of the typical vacuum of buy interest. Sometimes they can cause a technical breakdown that leads some idiot longs to sell too. My toughest battles are keeping people in positions that are going to work, when the chart looks ugly right in front of the news. Sometimes I should have paid attention to the price action, but usually I'm better off staying put. Reminds me of EXBD in July. Baird created a pothole because they thought they knew something. When the quarter came out, stock gapped back up. Brilliant call there, guys.

In times like these, it's hard for some people to adjust how to react to bad news. When the economy falls 10% in two quarters, everybody kinda knows current business trends aren't good. Telling me that is not informative. Tell me something I don't know, such as what companies are going to beat expectations because the Street has taken the last two data points and put their idiot ruler to them again.

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