Why is the market up? Everyone seems to want to know this, but it seems to me its usually just to pat themselves on the back. A long wants to hear the reasons to validate his long position, to pat himself on the back and feel really smart. On the other side, the guy who is short wants to know the reason too, but will probably have an opposite reaction to the whole thing. This person probably wants to argue with the market, to say this is the dumbest thing and tell you exactly why. This allows them to feel like smart guys and pat themselves on the back too. As traders our focus needs to be more on the what, not the why. We can always lie to ourselves about why, come of with great little tales to tell ourselves and feel real good. What does not lie though.
If you are long and havent a clue as to why the market is up, you still get to keep all the money you made..minus the brokers cut. If you are short and know every single reason the market is up and why it should not be, it really does not matter though now does it, you still have to pay up..plus commissions.
Be careful when you are more concerned with the why than the what.
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