My article is about our loss off logical thinking. We rely on technology now to do most of it for us and not only that, we now demand that we be protected from our own lack of knowledge or logic. I see it daily receiving endless "class action lawsuit" paperwork on equities that somehow went contrary to someones idea. To lawyers it seems it's like popping candy. An earnings miss by a company, or a misspoken word and the next thing we should think is that it was all done on purpose, we were all little sheep, mislead. Nowhere is it understood anymore that trading and/or investing is not guaranteed riches. Somehow it's all supposed to work like magic: when companies say the outlook is for .20 eps and it ends up to be .19, they deserve to be stripped of any future chance to make a profit. Law firms specializing in class actions, are somehow never questioned about their ulterior motives or subject to scrutiny.
Of course I don't begrudge anyone from making a living, but it's due to lack of logic that so much does go unchecked by ordinary citizens. Reality dictates, or is it logic, that anything we earn, any items we have can be lost and/or rendered worthless in relatively short time especially in today's world, yet no one is suing the companies for that. For example, Apple and the iPhone vs the new iPhone. Sony Walkman vs CDWalkman then iPods, DVDs and Blue Rays, one makes the other worthless (except for collectors) and the expensive items of yesterday (almost literally) have no worth today.
So, why expect your stocks to be worth anything, especially if you bought it last year? Even the FDIC is worth far less today than last year and that does not include the worth of your dollar or your real estate. So how about a class action lawsuit against the government for making our houses worth less? Oops, that dang logic I forgot I had is acting up again. :)
Happy Trading, Living and Dancing
Anni
The Daily Pick - PPO
©DayTrading with Anni 2010 All Rights Reserved
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