November 1st, 2010
This is what I love about the stock market: if you wait long enough or search hard enough you’ll find any point of view that you can agree with. But is that what you really need to help you succeed in trading this market?
What you need is a perspective that is both short-term and long-term at the same time. Opinion that you can rely on not changing direction 180 degrees with the jobs report or interest rate announcement.
I was struck by a recent headline from Bloomberg BusinessWeek (Bloomberg completed the acquisition of Business Week magazine from McGraw-Hill on December 1, 2009). But what really caught my eye were links to several opinions with a completely opposite point of view highlighted in a box to the right of the lead article.
I dug further and came up with a wide range of opinion pieces from a wide cross-section of institutions and analysts. I even found one institution (UBS) that distributed articles a couple of months apart (July and Sept) from different analysts with diametrically opposing projections.
Here are some of what I found:
To avoid being whipsawed by the conflicting information you’re continually being subjected to, you need to find one source that you’ve found to be consistent and usually correct. Subscribers to Instant Alerts know that I’ve had basically the same view of the market’s near and long-term direction and have followed a consistent game plan in my own personal trading based on that view. To subscribe, click on the icon to the right.