re: "You can’t time the market: Also, technical analysis is phooey. Momentum plays are foolish. Anyone who wants to sell you a plan to beat the market is full of baloney. Investing schemes are exactly that. As I’ve written before, some people will tell you that you can hedge your bets. But insuring trades has never made sense to me. If you have to spend money to hedge a bet, it probably means you can’t afford to invest the money.
When it comes to markets, what can go wrong, will, and bubbles happen. The problem is we never know which is which until it’s too late."
The author acts as if Wall Street's moves are as random as the wind on a summer day. They aren't.
Politics plays a huge role. So do Federal Reserve announcements (but I repeat myself!) Understand those two "forces" - which ain't too difficult in an election year - and it's fairly easy to get good results with the addition of technical analysis.
I do think that leaving Wall Street is a good idea. Doubly so if you're currently ahead. The clock is ticking on the financial markets, and the other markets will come down in a cascade when times runs out. Best to be holed up in a nice farmhouse someplace when that happens.
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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