Berkshire Hathaway's Class A shares hit their tenth straight day of gains. First time since January 2018. Retail traders are frantically Googling "what does this mean" while staring at eight-year charts they downloaded from a free screener.
The pattern means nothing. Ten green candles in a row carries the same predictive power as nine green candles or eleven. But some guy named Derek just mortgaged his Camry to buy fractional shares because he read that streaks always continue until they don't.
January 2018 was a different market. Different interest rates. Different everything. Comparing today's ten-day rally to that one is like comparing your dating life to your grandfather's. The only similarity is both involved disappointment and poor decision-making.
Technical analysts will draw lines connecting these two rallies. They'll call it a "rare bullish pattern" and charge $399 for a newsletter explaining why the next target is exactly $847,293 per share. They calculated this using Fibonacci retracements, which is astrology for people who own Bloomberg terminals.
The article asks what's driving the stock. Here's what's driving it: more buyers than sellers for ten days. That's the entire explanation. Everything else is a narrative humans invented because we can't accept that markets are just continuous auctions where people click buttons.
Someone will screenshot this streak and post it with the caption "BRK.A different." That person owns 0.0003 shares and talks about Warren like they went to the same high school.
The streak will end. Could be tomorrow. Could be in three months. When it does, the same people celebrating the rally will write articles asking what went wrong, as if stocks were supposed to go up forever just because they went up recently.
Congrats to everyone who bought the dip. You were right for reasons you'll never understand.
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