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"The market does create its own psychology," Clark said. "You would never go to the grocery store and pay a higher price because someone else did, but that's what happens in stocks -- the momentum that's happening today after G-20."
Finance ministers of the G-20 met over the weekend and pledged to continue government aid. The dollar fell sharply against the euro and British pound, while commodities and commodity-linked stocks rose.
"Stocks and commodities are happy that G-20 will maintain stimulus," said Art Hogan, chief market strategist at Jefferies & Co.
Originally posted by HotSauce
reply to post by Erasurehead
You know I do not really think it is due to a herd mentality. I think a lot of big time investors and some small time one have learned to "gamble" on the markets quite successfully. They have way better odds then they could ever get at the casinos.
If you invest a certain way then you don't care about the long term value of a stock because you are never intendng to hold it past the short term. All these investors care about is the chance the stock has to rise and/or fall in the short term.
reply to post by veritas 7