Most Popular
1. THE INFLATION MONSTER is Forecasting RECESSION - Nadeem_Walayat
2.Why APPLE Could CRASH the Stock Market! - Nadeem_Walayat
3.The Stocks Stealth BEAR Market - Nadeem_Walayat
4.Inflation, Commodities and Interest Rates : Paradigm Shifts in Macrotrends - Rambus_Chartology
5.Stock Market in the Eye of the Storm, Visualising AI Tech Stocks Buying Levels - Nadeem_Walayat
6.AI Tech Stocks Earnings BloodBath Buying Opportunity - Nadeem_Walayat
7.PPT HALTS STOCK MARKET CRASH ahead of Fed May Interest Rate Hike Meeting - Nadeem_Walayat
8.50 Small Cap Growth Stocks Analysis to CAPITALISE on the Stock Market Inflation -Nadeem_Walayat
9.WE HAVE NO CHOICE BUT TO INVEST IN STOCKS AND HOUSING MARKET - Nadeem_Walayat
10.Apple and Microsoft Nuts Are About to CRACK and Send Stock Market Sharply Lower - Nadeem_Walayat
Last 7 days
Where’s my self-driving car? - 16th Aug 22
Real Reason why Pakistan and India Gained Independence in 1947 at 75th Anniversary - 16th Aug 22
Electronic Payments Can Benefit Your Business - Here’s How - 16th Aug 22
Qualcom Stock Market Harbinger - 12th Aug 22
Apple Exec Gets World's 1st iPhone 14 for Daughters 14th Birthday Surprise Present Unboxing! - 12th Aug 22
Steps to remember while playing live roulette online - 12th Aug 22
China Bank Run Protests - Another Potential Tiananmen Square Massacre? - 11th Aug 22
Silver Coin Premiums – Another Collapse? - 11th Aug 22
Gold-to-Silver Ratio Heading Lower – Setup Like 1989-03 - 11th Aug 22
Severe Stocks Bear Market: Will You Be Among the Prepared 1.5%? - 11th Aug 22
There's a Hole in My Bucket Dear Liza, UK Summer Heatwave Plants Watering Problem Song - 11th Aug 22
Why PEAK INFLATION is a RED HERRING! Prepare for a Decade Long Cost of Living Crisis - 9th Aug 22
FREETRADE Want to LEND My Shares to Short Sellers! - 8th Aug 22
Stock Market Unclosed Gap - 8th Aug 22
The End Game for Silver Shenanigans... - 8th Aug 22er
WARNING Corsair MP600 NVME2 M2 SSD Are Prone to Failure Can Prevent Systems From Booting - 8th Aug 22
Elliott Waves: Your "Rhyme & Reason" to Mainstream Stock Market Opinions - 6th Aug 22
COST OF LIVING CRISIS NIGHTMARE - Expect High INFLATION for whole of this DECADE! - 6th Aug 22
WHY PEAK INFLATION RED HERRING - 5th Aug 22
Recession Is Good for Gold, but a Crisis Would Be Even Better - 5th Aug 22
Stock Market Rallying On Slowly Thinning Air - 5th Aug 22
SILVER’S BAD BREAK - 5th Aug 22
Stock Market Trend Pattren 2022 Forecast Current State - 4th Aug 22
Should We Be Prepared For An Aggressive U.S. Fed In The Future? - 4th Aug 22
Will the S&P 500 Stock Market Index Go the Way of Meme Stocks? - 4th Aug 22
Stock Market Another Upswing Attempt - 4th Aug 22
What is our Real Economic and Financial Prognosis? - 4th Aug 22
The REAL Stocks Bear Market of 2022 - 3rd Aug 22
The ‘Wishful Thinking’ Fed Is Anything But ‘Neutral’ - 3rd Aug 22
Don’t Be Misled by Gold’s Recent Upswing - 3rd Aug 22
Aluminum, Copper, Zinc: The 3 Horsemen of the Upcoming "Econocalypse" - 31st July 22
Gold Stocks’ Rally Autumn 2022 - 31st July 22
US Fed Is Battling Excess Global Capital – Which Is Creating Inflation - 31st July 22

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

During a Market Mania, "no prudent professional is perceived to add value"

Stock-Markets / Stock Market 2021 Oct 24, 2021 - 10:48 PM GMT

By: EWI

Stock-Markets

"I don't want to hear about it."

That's the general response from many new retail investors here in 2021 when a veteran stock market observer expresses any hint of caution about the stock market.

This lack of respect for sober reflections about the market has been exhibited before.

Indeed, as far back as 1997, in a Special Report titled "Bulls, Bears and Manias," The Elliott Wave Theorist, a monthly publication which provides analysis of financial markets and cultural trends, said:


"A very human aspect of manias is that no prudent professional is perceived to add value. Indeed, the professional with a knowledge of history and value is eventually judged as an impediment to success."

Today's newbie investors are exhibiting this attitude in spades as expressed by the Wall Street Journal (Aug. 27):

Young investors are turning to a new generation of stock pickers -- many without formal training -- for advice. ... Staying popular means never criticizing a meme stock.

Yes, one of the keys to social media success for non-professional dispensers of stock picking advice is to always be bullish.

This ties in perfectly with the widespread sentiment among their social media followers that the market always goes up.

The October Elliott Wave Financial Forecast, a monthly publication which covers major U.S. financial markets, mentioned yet another financial mania trait:

Back in January 2000, the Elliott Wave Financial Forecast noted, "professionals and institutions that used to know better now pander to the stock-market dreams of the little guy." This time they're not just pandering with comments about a new era of retail dominance. Now the pros are copying the strategies of the little guy.

Getting back to the idea that the market always goes up, the only thing it will take for this maniacal mindset to be dramatically altered is a bear market.

Keep in mind that the current uptrend has extended for more than 12 years. Even so, as just discussed, investor psychology is even more extreme than 2000, or 2007, for that matter.

Now is the time to learn what the Elliott wave model has to say about the stock market's price pattern so you can prepare for what will take many investors -- both professionals and novices -- by surprise.

Right now, you can see EWI's U.S. market insights and analysis absolutely FREE.

Now through November 3, EWI is opening the doors to their flagship Financial Forecast Service. This is their most popular FreePass event ($411 value). That's for good reason. See why when you get your FreePass now.

This article was syndicated by Elliott Wave International and was originally published under the headline "I don't want to hear about it.". EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in