On Marketwatch, Paul B. Farrell writes (link)
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No matter how much new information, facts, data, tips, slogans, theories and systems are pumped into your brain by these well-intentioned "investor education" programs, irrationality always trumps rational thinking. Seriously, think about the wealth of new online resources and technologies since the 1990s "information revolution." Has it helped? No. In fact, just the opposite: The investor's brain has regressed, becoming less intelligent and vastly more irrational. You simply cannot make an irrational brain "less irrational" by filling up it up with more information!
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Cynical to be sure. The cliche is that a fool and his/her money are soon parted. The corollary is that you can't save every fool in the world.
Elsewhere earnings continue to move the markets. Big fish INTC had an overall positive report, despite missing estimates, and that will likely drive a whole herd of stocks higher, just as GE's miss drove the entire market lower. Like I wrote, the earnings sword cuts both ways.
Adam Warner at his blog writes
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GE lays an egg, the market gets nervous that it's not just financial that will take earnings hits and everyone wants puts in CAT and HON and I imagine Whirlpool and a host of others too. Clearly there is money flow into puts, but is that really smart money, with the implication that you want to follow it?
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Is that "smart money" or are they sheep?
Gold continues to underperform oil, continuing to send mixed messages.
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