this post was submitted on 16 Apr 2025
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[–] NOT_RICK@lemmy.world 190 points 1 week ago (26 children)

I have to be honest, as someone who is not fully immersed in the financial markets, the chart pattern reading kinda strikes me as astrology for guys in suits.

I feel this deep in my bones

[–] cyberwolfie@lemmy.ml 25 points 1 week ago (4 children)

To a large extent it is, the major difference being that when people take actions based of these signs, it influences which way the chart goes next, unlike the planets, which do not care the slightest what people do based on their actions. Thus you can end up making a lot of money if your actions are 1) correctly anticipating subsequent actions by other people and 2) sufficiently in advance of other actions. Which makes inside trading and pump-and-dump schemes great ways to get filthy rich, if you find yourself in a position to be able to pull that off. Or if you are lucky. Or if you have made a name for yourself and everyone else just assume you know what you are doing and follows (Warren Buffet comes to mind).

[–] NOT_RICK@lemmy.world 2 points 1 week ago (1 children)

That makes sense. Essentially, there are things that are influenced by perception and those that are immune to perception.

[–] cyberwolfie@lemmy.ml 12 points 1 week ago

Yes, and by the sheer existence of the concept of a "death cross", and now that it has happened for the Tesla stock, people will act as if whatever a "death cross" predicts will come to pass. So even though there was some correlation before someone formulated it as a concept, now the response will be different because people will act on it. If enough people believes it, it will probably just accelerate the process as they will seek to sell off before the downturn, pushing the prices down. Which is the way the Tesla stock should go, so I am all for this cross of death.

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