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----- Original Message -----
From: "Ira Tunik" <irat@xxxxxxxxx>
To: "realtraders" <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, October 11, 2001 10:12 AM
Subject: [RT] news
> I have to chuckle at all the noise made about the published news and
> what to do about it
Yep. And yep to the rest of your message. That being the case why does
this happen. For the newspapers & networks, it's to fill space in order to
sell advertising. But for the trader/investor, why does it happen? I
suggest that it comes from a dangerous human characteristic - the need to be
right, the need to control or be in control. We get drawn into these kinds
of analysis because we cannot accept that we cannot predict what the market
will do. We try to impose our will in the form of analysis on the market.
And when it doesn't work, we call on another wonderful human
characteristic - the ability to rationalize.
All of us are really good at this kind of thing. Very few of us can make
money consistently by doing it. Therefore, trade just the numbers with a
small weather eye out for report release dates. Don't even think about
"news" unless the market is closed and you have a drink in one hand and a
tasty treat in the other.
Regards,
Mike
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