On what to watch in the stock market
(Quote: Ralph Wanger)
"[There's] an excitable dog on a very long leash in New York City, darting randomly in every direction. The dog's owner is walking from Columbus Circle, through Central Park, to the Metropolitan Museum. At any one moment, there is no predicting which way the pooch will lurch.
But in the long run, you know he's heading northeast at an average speed of three miles per hour. What is astonishing is that almost all of the [dog watchers], big and small, seem to have their eye on the dog, and not the owner."
My two bits (R. Gollner) / Someone said:
"It's the economy, stupid" OR "It's the earnings, what else?"