2008-12-24 | Filed Under SteveG's Posts |
I found the following three headlines juxtaposed on a Yahoo! Website investing page:
|•||^DJI||Indications: U.S. stock futures drift lower ahead of data
at MarketWatch (Wed 8:10am)
|•||^DJI||US STOCKS-Futures flat ahead of economic data
at Reuters (Wed 7:55am)
|•||^DJI||Indications: U.S. stock futures tick higher ahead of data
at MarketWatch (Wed 6:02am)
|Wall Street set to edge up in shortened session
Reuters (Wed 5:07am)
It appears that no matter what the market action, the explanation is the same.
I once heard a speaker at a Portland meeting of the American Association of Individual Investors explain this phenomenon. He was a psychologist by vocation and an investor by avocation. He said that among professional psychologists this kind of sequence of statements from a client would be called confabulation.
The www.FreeDictionary.com gives confabulation this definition:
2. Psychology To fill in gaps in one’s memory with fabrications that one believes to be facts.