by Andy Hoffman, Miles Franklin:
In the ensuing pages, we again demonstrate why one must beware of those considered “expert” financial analysts. The title reflects our frustration with the “mainstream” outlets seemingly mandated to relentlessly propagandize a mythical, unobtainable “recovery.” However, one must be equally vigilant when following alternative media sources – particularly those that ignore what we view to be the single most important aspect of today’s “markets” – i.e., manipulative intervention per the incomparable Chris Powell of GATA.
To hear (such analysts) tell it, it’s all lousy sentiment and charts — as if that surreptitious trading by central banks might not be creating the lousy sentiment and charts. Maybe technical analysts shouldn’t be scorned too much. They can’t want to believe in, or even know about, central bank intervention in markets because it would nullify their work – their whole careers – revealing that they have been interpreting mere holograms created precisely to deceive them. But the self-importance of these analysts is both ridiculous and insufferable.
In a time of comprehensive market interventions by central banks, technical analysis is no more useful than reading entrails or tea leaves.
-GATA.org, May 27, 2014
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