Bottom pickers bought the dip and helped lift the pair to 9.44611 in December 2016.
«Some walking wounded
bottom pickers continue to try and catch a falling knife,» said John Macaluso, an analyst at Tyche Capital Advisors.
Fortunately for
bottom pickers, MIOTA / USD has been rallying since.
Sensing that a higher low was in place,
bottom pickers bought positions which helped the market establish a base at 0.0016.
Bottom pickers bought the dip and they were able to inspire a massive rally that lifted the market to as high as 2.4889 on December 21.
Bottom pickers then bought the dip.
In the same AUDUSD chart that we looked at above, we can see what the experience might have been like for the «
bottom picker» trying to trade against the strong downtrend.
Not exact matches
At first I thought the gorilla had been meticulously potty trained to poop into the moat, making the collection easier for the zookeepers in training who enter the zoo hierarchy on the
bottom rung as poop -
picker - uppers.
Typically a wax end
picker, as pictured below at the
bottom of the equipment image, but I prefer to use a pencil
picker, as pictured at the top.
One subject we touched on was the issue of «
bottom - up, fundamental» versus «top - down macro» investing styles, a topic that has received some attention overnight in the WSJ (see «Macro» Forces in Market Confound Stock
Pickers).
Most value investors are
bottom - up stock
pickers anyway.
If this trend continues, 2016 could at last see the long - awaited stock
pickers» market, and a widening of the gap between top and
bottom performers.
And for Keynes, who switched from being a top down strategist to a
bottom up stock
picker after 1929, «The right method in investment is to put fairly large sums into enterprises which one thinks one knows something about...», something that Warren Buffett echoes.
Value investors are known for ignoring «macro» developments and relying solely on their skills as
bottom - up stock
pickers.
The
bottom - line is that even the best stock
pickers tend to lag the market over time.
It replaces the old app
picker from iOS 10, and instead of swiping from the right to access apps, you swipe up from the
bottom of the display (even if you're in an app) to access the dock instead.