Retail Mania Spurs Veteran Trader to Scour Chat Rooms and Charts
(Bloomberg) -- The turmoil in parts of the U.S. stock market caused by the WallStreetBets crowd has prompted a veteran U.S. trader to ditch his old playbook built up over decades.Larry Peruzzi, the head of international trading at Mischler Financial Group Inc. and a more than three-decade veteran of market action, said he’s spending less time looking at stock fundamentals and a lot more time on technicals and in chat rooms.“We are currently looking a lot less at the balance sheets and a lot more at the chat rooms, trade quickly and avoid trying to use any valuation while trading,...
Source: yahoo.com