I make no secret I dislike stock market investors/traders. Equal heaps of scorn and derision are directed upon the financial TV networks and newspapers that constantly Push the purchasing of stocks and bonds.. Buy Buy Buy! no matter the reality of the economic situation. The only entities I can think near equivalent as bottom feeders are those in the insurance industry, but in the overall rankings of annoyances, they are mere bedbugs in comparison to Investors and the professional pitchmen who treat every event as a glorious investment opportunity.
Normally the attitude should be, 'Ehh, so what! Those who invest are adults..they can make their own minds up and sink or swim on their own.' But this isn't a normal stock market or even a slightly rigged one- The Fed has successfully artificially inflated it by 35% vs its low point in March 2009. And these are not normal times.. the global economy is heading into a bad 'winter' and cash will be king; you don't want your money tied up in anything- homes. cars, stocks, etc.. I don't want to see everyday 'Mom & Pop' investors lose their life savings by putting their figurative 'feet' into these shark infested waters.
The people that write articles and speak on TV networks like CNBC-- they are hucksters.. peddlers.. gypsies, tramps and thieves dressed in nice clothing. The mantra is simple- when the stock market is strong, its time to buy stocks. And when the market is weakening or depressed, its time to buy stocks. And when there's dramatic drops in the Dow, its Really time to be buying stocks.
Let's take headlines just from today June 24 to illustrate this point..
First, a couple headlines expressing the reality of today:
Wall Street Drops As Angst over Europe Rises -- Reuters
US Stocks Slump as Oracle Tumbles -- Bloomberg
Basically you get the gist.. Did you know....
On May 31, 2011, the Dow closed at 12,569.79
Today, June 24, 2011, as of 3:20p, the Dow is at 11,945.59
It has LOST 624.20 pts in a span of 18 trading days... And yet if you read financial news you will still read nonsense with shit headlines like this:
Why Fear in Financials Is Your Friend -- Barron's
Rising Fear Means Stocks Are At or Near the Bottom -- Yahoo! Financial
Have the bulls retreated enough? -- MarketWatch
How You Can Join the Ranks of the New Millionaires -- Fox Business
~ The best stock advice I can give right now is to not be in the stock market at all. But if you have to be doing something with your money, I mean Really Really Have to be investing, look at companies that provide need more than want. If/when things get bad, people will not need iPads and shirts with silly horseys on them as much as they will need food and water.
So with that, 'Caveat emptor' (Buyer Beware)
____________
PS- Its 4:12p.. Dow closed at 11,934.58 so that makes an official drop of 635.21 pts in 18 trading days.
For 'Fun' I turned on CNBC - Maria Bartiromo hosting 'Closing Bell' as she always does. She gives the grim figures for today, introduces her two guests, then first first words from her mouth are "Ok, where does one invest?" One guest advises to tread cautiously. The other says the market is due for a good bounce as it gets into 'earnings season'.
The empty interviews end and as the show is heading into commercials to sell investing products, Bartiromo gives teasers for viewers to return to watching after the break. The specific teasers aren't important but she did use the word 'recovery' twice and 'soft patch' once.
~ shakes head.. guess it shows 'huckster' is a gender-neutral term.
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