Up .. Down! Up … Down…that’s how my naive 12 year old brother describes, what can be called a true symbol of any country’s economic health: – it’s Stock Market.
For a layman, those changing numbers can just be that: NUMBERS, but for those who have spend their entire lives looking at those “numbers”, it is sound of a buzzing dollar, which can in an instant make or break their ‘moods’, ‘careers’ and sometimes Lives as well…
Spending about a year in this field as a neophyte, i am still the same, a greenhorn. This is true for even those who have spent donkey’s years in this field and still are left agape when Sensex sheds 600 points on any random day. Anyone who claims to be an oracle or makes an attempts at prophesy is considered an innocent liar, who is sometimes forgiven for his ignorance and in some cases, lambasted by those who sighting quick buck, fell in a deep pit dug by other.
“Equity markets are like a female’s emotions: Unpredictable”, said my boss who is famous to draw parallels between women and stock market!
Working as a technical trader, I quite liked my job, as I was given the power of foreseeing the directions of stocks and indices through charts based on historical patterns. Though I had taken training in this field I could never bring myself to believe that anybody who has traded for long could be irrational enough to believe in it. I joined the firm with the same thought, but since I was hired for predicting, I couldn’t have shared my views publicly.
In the course of time, all my notions lost their identities, when I saw a wave of gullibility not only in my office but also at my home. I started believing, if you can speak utter rubbish with a confidence of a politician, there will be people who will buy it and if you’re fortunate enough, they will work on it as well. However, claiming that technical analysis is a fake art, wouldn’t be entirely justified as there are renowned pundits who have indeed mastered this art. But, they are few in number and are by only true seekers.
So welcoming is the stock markets, that everybody take it for granted, even the anchors on business television have started wearing suits of an advisor or a market analyst. So while in retrospective, everybody can join the dots, there are only few who can cite the location of these dots before they even occur on the scene.