A Chart Is a Chart

After 2 weeks of Wall Street’s press core manically feeding us “news” about crashes, mini-crashes, Greenspan speeches, corrections and every other factoid under the sun, we are left with THIS. Is there anything special on that chart? After 2 weeks of “the world is ending”, what is so unique about that month of movement on the Nasdaq? I am sure some data cruncher can find any number of charts that look exactly like that one. My statement doesn’t mean that every quant or trend trader cleaned up in the last 2 weeks. The big difference is that trend traders expect loss, expect the unexpected and accept the volatility. The fundamental news driven crowd start with a prediction, then when it all backfires, we see the histrionics of the last 2 weeks.