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Originally Posted by Hog's Gone Fishin
This whole stock market thingy is just dumb. Trump announces tariffs on Steel which is GREAT for all US steel companies yet the stocks move down as people freak out and sell off. Then today they will move back up as idiots think about it.
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This is incredibly common for any anticipated event/product release.
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Buy the rumor, sell the news. Buy the rumor, sell the news is a market adage based on the belief that stock prices move in anticipation of rumors and rebound when profit taking occurs after the actual news is released.
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It doesn't mean your steel stocks won't do well over the next year or two.
As far as the other stuff, yeah, over the short term stocks can do wacky sometimes nonsensical stuff.
I saw a cnbc headline on my phone the other day that made me crack up. Found it
Square shares hit an all-time high, but nobody is sure why
Square shares hit an all-time intraday high on Monday.
The stock rose over 9.5 percent, as shares changed hands at more than 200 percent the average 30-day volume.
Many on Wall Street told CNBC they were stumped as to the exact catalyst of the share move.
It was bizarre. Their earnings release was the week before and they received no change in analyst ratings or anything that day. shrug, trying to figure out what the market is going to do over any short period of time is a good way to go crazy