Seems cheap

How true. One stock that I own, ASML, opened down 8.4% from yesterday’s close, and then it rose 13% from the morning low to the afternoon high. The invisible hand is spastic.


Here’s the main reason that Mr. Market was off his meds. Mostly technical.
We’ll see what today looks like.


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Rallies are nearly always explained. Then again, so are mysterious lights in the sky, crop circles, and other phenomena which are often unexplainable.

My theory for such rallies is: lots of algorithmic trading following a sudden burst elsewhere, followed by lots of FOMO by human traders, all for little to no reason.

It’s like when there’s a line of solders standing ready to fire, and the Sargeant says “Hold your fire” and then one guy doesn’t, and suddenly there’s a huge volley from the entire line because one guy pulled the trigger early. The madness of crowds, sort of.