The Comfortable Consensus

Today's rally is the reason it does not usually pay to be part of the market consensus. Even when one is correct on the fundamentals, it might already be priced in. I must admit to getting sucked in to the bearish thinking this morning but because I don't make consensus bets I am not short.

1 comment:

Anonymous said...

The reasons for todays reversal are questioning.

But I would not say bad earnings news was "priced in". If anything, yesterdays move higher meant people thought we would get better earnings news and clearly they were wrong.

The sell off may continue Wed regardless of aapl earnings.