Money managers are unhappy because 70% of them are lagging the S&P 500 and see the end of another quarter approaching. Economists are unhappy because they do not know what to believe: this months forecast of a strong economy or last months forecast of a weak economy. Technicians are unhappy because the market refuses to correct and gets more and more extended. Foreigners are unhappy because due to their underinvested status in the U.S., they have missed the biggest double-play (a big currency move plus a big stock market move) in decades. The public is unhappy because they just plain missed out on the party after being scared into cash after the crash. It almost seems ungrateful for so many to be unhappy about a market that has done so well ... Unhappy people would prefer the market to correct to allow them to buy and feel happy, which is just the reason for a further rise. Frustrating the majority is the markets primary goal.
-——Frustrating the majority is the markets primary goal.——
Which is why being a contrarian is the way to go
Frustrating the majority is the markets primary goal.
If the majority is frustrated then it's because the majority wants to be frustrated. Sure, sometimes it seems like there's some kind of evil "they" that are out to get us, but in the adult world "the market" is us, and each and everyone of us who buys or sells things is setting market prices.
What still remains is the fact that we're acting as a group in a way that we're individually not understanding --hence the frustration and the disappointment. My take is maybe it's time we admit what we 'know' may not be true and a bit of learning is in order. That, and we can also have fun enjoying the circus...