GLENO34 - The herd is blown about by the wind. Someone said the green shoots were weeds and the market was headed down so they went crazy to the downside. It turned out to be an abc correction wave {iv}. Then someone said "earnings not as bad as we thought" and we go up in a little (v} to 1008 and they go nuts to the upside. At 1008 someone will say "all those earnings were on cost cuts not growth" and they will stampede down again. But we should not complain. It is the herd's emotions that swings the market and makes us money. The herd is a wild eyed bunch of steers just waiting to bolt in one direction or another. It is not rational or irrational but it is observable and systematic.
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