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  • disfiguredskating disfiguredskating Feb 14, 2013 5:49 PM Flag

    AMZN & AAPL Sentiment

    I watched Fast Money (shame on me) and the traders were giving reasons to own AMZN that were a story or supposed fundamentals. Then later they talked about AAPL and bad fundamentals and a bad story.

    It dawned on me that these people (and millions more) don't give a care what AMZN does, it is strictly about price. The stock goes up and they buy more. It is the Greater Fool Theory. It works until it doesn't and then the news media finds a story to fit the price action. Stupid things like "Jeff Bezos is the CEO" just make it all too clear.

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    • "Price is truth" because all assets are currently valued on how they trade rather than their underlying fundamentals (value creation and value capture). It is the net result of HFT run amok and institutional longs ceasing to use human judgment. Sybs may be right that the only solution is for the market to blow up. I still hope that the institutional longs will let these go and buy the stocks of companies that are massively undervalued on a relative basis.

      Everyone is crowding into all the wrong places. It is going to get very ugly...

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