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).

[–] echodot@feddit.uk 2 points 1 week ago

Right but the planets being in particular locations in the sky doesn't really result in astrologists saying a particular thing is going to happen. They basically just make something up and then decide that's what the planet says. They could basically just ignore the positions of the planet and it wouldn't really make any difference.

Otherwise history would repeat every couple of decades.

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