“Don’t put up a fight with the tape.” This often-cited stock market adage cautions investors against getting in the way of market trends. The presumption is that market movement will continue in the same direction. The origins of this concept can be found in behavioral finance. With so many equities to select from, why would investors maintain their money in a declining stock rather than a rising one? It’s a typical case of greed and fear. In today’s world, we can also say, “don’t fight the Fed”.
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