Jan. 2nd, 2018

basis211: (Default)
5 days ago

I am a professional trader, and work for a large investment bank. I've seen a lot of posts on this subject and I see many of people trying to use economics and fundamentals as their guide. Making sense of it all. When you are in a hot speculative market like this, you can throw all economics and fundamentals out the window. They mean absolutely nothing until the speculators are done. I was around for the internet bubble where the market cap reached at least 3 trillion in less than a year, for companies that did absolutely nothing, on just the US stock exchanges alone, with very few relative participants. Since this is a global market, lightly regulated, and technology makes it easier for anyone to open an account and participate, we're not even close to being done with this speculation. I guarantee it. There is very little relative participation in this market right now. The only way to read a speculative market like this is technically via charts.

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