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I have watched this back and forth arguments against scheier. I will simply
point all of you to the study published on ECB's website. The Fed's
knowingly try to surprise the shorts to get a sporadic covering effect. This
gives them momentum and confidence in their moves. You wouldn't truly
consider +15 point moves in stocks due to buying.
What Scheier has been trying to ring home is that their is predilection to
treat shorts unfairly. Trying to change such a bias would be trying to
rewrite history.
I further consider the words "Professional" a misnomer in light of the
person verbage used against a fellow trader. And yes we humans are never in
possession of knowledge. We function on the principles of eoliths.
Scheier instead of trying make your point to many who simply do not care
just remember "it is not how right or how wrong you are that matters but how
much you make when right and how much you do not lose when wrong".
Further today's US economy, the moment of truth has arrived. "You can lead
the horse to the Well. But is it drinking?"
If Greenspan has found the elixir vitoe of controlling Markets I would be
very surprised. Unintended consequences abound.
Regards
Shawn
----- Original Message -----
From: "Mark Brown" <markbrown@xxxxxxxxxxxxx>
To: "Omega List" <omega-list@xxxxxxxxxx>
Sent: Thursday, January 04, 2001 6:56 AM
Subject: Re: Reality/ Re: the Fed
> Hello scheier,
>
> sir you are the one who is missing something, and i want to help you
> find it. "knowledge" is what you need and there is nothing wrong with
> not having it but there is something wrong with not seeking it.
>
> the market itself told you what it was going to do, there were many
> different signals all disclosed here by others in recent post about how
> they too were seeing market anomalies that shouted at you the
> direction of the impending move and at the very least if not direction
> that a move of significant magnitude was imminent.
>
> i suggest you take everything you fundamentally think you know and as
> we say in texas "shitcan it" other places call this file 13 i belive.
>
> then visit a local insane asylum and see if you can get a good ole
> fashion shock treatment or two, just to burn out any cob web ideas you
> may still have about your intelligence being able to process
> fundamental data to arrive at some apparent knowledge. "NOT"
>
> AND PLEASE do not make the mistake of thinking that so called "Market
> Professionals" (of which i an one) are as unenlightened as you think.
>
> now that we have all that out of the way i suggest that you get your
> self a good computer and a set of ear plugs (if you watch financial
> tv) until you have learned the discipline of doing the opposite of
> apparent hype. now what to do with the computer? each hour on the hour
> go into the room where it resides and worship it for 10 minutes at
> least in whatever fashion you feel comfortable with. meditate and
> surrender to its superior knowledge, chanting i am ignorant and it
> knows all. i will give you further instructions after you have
> completed this humbling experience for at least 6 months. call me.
>
> otherwise you may want to just try a buy and hold for 20 year
> approach, it takes less work and thinking.
>
> mark
>
> s> Once again, the point is missed. The oncoming rate hike
> s> was well publicized. The point is the intentional surprise
> s> the Fed used to release the news so as to maximize its leverage
> s> against market participants, many of them professionals and
> s> market liquidity providers, at the hour of the day most likely
> s> to cause the most damage. The question is whether the Fed
>
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