Short rally on the Dow spells continued turbulence
All things are not what they may seem to be. This is specially true in economics, and even more so when it comes to the Dow and all major stock markets. Once upon a time… the value of a stock was based on fundamental values which were easy to study and understand. Decisions moved on a human timescale. Book-keeping was made mandatory as much for the benefit of the IRS as for the stockholders.
Things have changed. While the books still have to be done, the stock markets have long since migrated to automation, millisecond-ownerships and acting as a antenna that tunes in on the sentiment of global economics and politics. So what is the point?
The point is that stock markets no longer provide a good venue for long-term investments. For the short-term player though, turbulent times are good times. Playing the bouncy wave is risky though and your main focus should be on instant decisions with a finger on the button and an eye on the screen. Obviously, this is the daily reality of a day-trader but get ready for more demanding times where you will need to tighten your game considerably.
There will be no return to the old times and as the money-tree grows it also becomes clear that the root system is under-dimensioned and may not be able to support the growth pace. The most troubling part is that what can´t be seen is being ignored.
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