We had this old saying back in my investment banking days:
“Don’t fight the tape.”
It was a phrase that we used in finance that basically cautioned you not to bet or trade against the trend in the markets.
It was a REALLY old saying because the term “tape” referred to the ticker tape machine that the old timers used to have on their desks to get stock prices delivered to them before AOL, E-Trade, and iPhones.
The crazy thing was, we rolled our eyes and used the term a ton back then because there always seemed to be some bonehead clown who swore that he had developed a “system” or “strategy” that would beat the market.
The streets were littered with the carcasses of these guys, because the market chewed them up and spit them out without skipping a beat or even noticing them.