As noted yesterday, we lowered our Dow target to 9,000. As we get closer to that, we start paying closer attention to contrary indicators.
Along those lines, a new tumblr blog, Sad Guys on Trading Floors, caught my eye.
Its funny and sad and poignant, but for our purposes, its a yet another in a list of contrary indicators that suggests things are getting overdone, and that sentiment is moving towards an extreme. A blog such as this could only be conceived of during times of extreme market stress.
As of today’s lows, the Dow has given up 5,004 points (14,198 to 9,194).
Note that this is not a precise timing signal, but it is an interesting anecdotal sign worth watching . . .
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THE HORROR
I actually believed guy on St. Mark’s when he told me this was a limited edition iPhone.
I can’t add a caption to this that could possibly make it any more hilarious.
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Hat tip boingboing more photos after the jump . . .
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Source:
Sad Guys on Trading Floors
http://sadguysontradingfloors.tumblr.com/
A common way traders stay slim and trim is by purging each time the Dow drops 100 points.
So… many… numbers…
“Tantrum Strategy.” Just hold your breath until someone approves a bailout package.
Jazzhands will not save us now, my friend.
There’s a lot more here:
Sad Guys on Trading Floors
http://sadguysontradingfloors.tumblr.com/
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