Thursday Update
Before and After
7/28/2005
by David Yu
Even though most of the long positions have been doing quite well in the portfolio, somehow there's that uneasy feeling that keeps growing stronger. It feels as uneasy as crossing the street blindfolded. That's the feeling I get whenever I trade on just the technicals without the fundamental understanding of the current events.
Sometimes it takes a while for the market to reveal itself to us. And, this is one of those times. What happened after the terrorists bombing in London on 7/7/2005?
Chart 1
Chart 2
No, it's not about the earnings season. If I believe the financial market is a discounting mechanism, then everything known is already not worth knowing. Earnings are the things of the past. And If I believe the financial market is instead a measure of liquidity, then it's not about the corporate earnings either.
We shall find out soon.
email: david_3011 @ yahoo.com
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