At this point, I've seen this behavior countless times in my five-decade career... I'm sure you've seen it, too.

Editor's note: As Chaikin Analytics founder Marc Chaikin explained on Friday, fear of automation is nothing new. And now, we're in a new age of "automation hysteria" when it comes to artificial intelligence ("AI"). Today, Marc follows up on this idea with a slightly adapted version of an essay he published in August last year in the Chaikin PowerFeed. In it, he explains why it's a mistake to hold an overly negative mindset when it comes to big technological changes... We'll Always Have AI Curmudgeons By Marc Chaikin, founder, Chaikin Analytics At this point, I've seen this behavior countless times in my five-decade career... I'm sure you've seen it, too. I'm talking about the market's naysayers and curmudgeons. Specifically, I'm referring to the folks who don't miss an opportunity to complain loudly about anything they can. I remember one particularly amusing headline in August 2023. Take a look... Now, this article is just an opinion piece from a Bloomberg columnist. And I don't mean to call out the person who wrote it. But I still can't help but chuckle at the message. I've said it before... I don't have a crystal ball. I work in quantitative analysis. I've spent many decades selling technical tools to Wall Street. And by design, that means I had to stay on the leading edge of technology. Wall Street pros simply won't pay top dollar for a tool if everyone else already has it. To get their attention, you need to be able to show them something new and useful. And yet, every time something new comes out, some of the loudest opposition comes from these Wall Street pros. They just want to say, "This is nothing. It won't change the world." Today, I want to look at what history says about that type of mindset... Recommended Links: 'The One Type of Stock You MUST Buy in 2025' Half of Americans said 2024 was the most stressful year of their financial lives. But what's coming next could trigger huge gains starting in January. Today, one man is stepping forward with critical details... including ONE type of stock every billionaire on Wall Street has their eye on. Here's what we recommend you do. Is This Bull Market About to Come to an End? Two weeks ahead of the summer 2024 tech sell-off, he warned, "Do not buy Nvidia." Sure enough, it went on to fall 30% from its high. He predicted the 2022 crash more than a year in advance. Today, Stansberry Research senior partner Dr. David Eifrig steps forward to explain the untold story of why the market hasn't crashed yet, and – more importantly – what happens next. Learn more here. Heck, I bet some early humans even panned the invention of the wheel. I can just imagine the writing on the cave wall saying, "This new round thing won't change much." In fact, we even have written record of the wheel being panned more recently. No kidding... While discussing the "hot fad" of bicycles in 1902, the Washington Post said, "The popularity of the wheel is doomed." And in 1906, the New York Sun noted, "As a fad, cycling is dead." History is full of other bad calls on innovation, too... The curmudgeons criticized the invention of cars as well. In the early days, the New York Times said that prices "will never be sufficiently low to make them as widely popular as were bicycles." And people didn't think the infrastructure would ever make cars practical. The list is just as silly in recent years... The curmudgeons saw the answering machine as a novelty for rich people. And they thought laptops would fail as well. In 1995, a Newsweek writer even predicted the Internet would fail within a year. This wasn't wild commentary from an uneducated author, either. He lived in Silicon Valley! The guy was saturated in the game-changing technology at the time. And yet, he thought it had reached its peak before it even got off the ground. Specifically, in the article, he said...   Hardware and software will all top out in the mid-90s and, thus, the Internet will never ever get any more user-friendly or portable. Also, it is different and scary. Folks, that brings me to today's game-changing technology... I don't have a crystal ball. But it doesn't take magic to see that something big is happening. The curmudgeons will tell you that all the recent talk about AI is much ado about nothing. But kids in schools are already using generative AI to write papers. And their teachers can't figure out which papers are "real" and which ones are AI-written. Like it or not, AI is here to stay. And it will only keep getting bigger in the months and years ahead. Don't miss out on positioning your portfolio to capitalize. Good investing, Marc Chaikin Market View Major Indexes and Notable Sectors     # Hld:     Bullish     Neutral     Bearish Dow 30 -0.74% 8 12 10 S&P 500 -1.04% 79 253 164 Nasdaq -1.3% 23 54 23 Small Caps -1.48% 384 1030 492 Bonds -0.81% — According to the Chaikin Power Bar, Large Cap stocks are more Bearish than Small Cap stocks. Major indexes are mixed. *  *  *  * Sector Tracker Sector movement over the last 5 days Health Care +0.69% Information Technology +0.67% Energy +0.5% Financial +0.49% Discretionary +0.36% Communication +0.2% Industrials -0.43% Utilities -0.46% Real Estate -0.61% Materials -0.72% Staples -0.8% *  *  *  * Industry Focus Software & Services 73 61 5 Over the past 6 months, the Software & Services subsector (XSW) has outperformed the S&P 500 by +20.02%. Its Power Bar ratio, which measures future potential, is Very Strong, with more Bullish than Bearish stocks. It is currently ranked #2 of 21 subsectors and has moved up 17 slots over the past week. Top Stocks ALKT Alkami Technology, I ACN Accenture plc ALRM Alarm.com Holdings, *  *  *  * Top Movers Gainers LW +2.63% APA +1.14% BIIB +0.94% HSY +0.93% OXY +0.75% Losers SMCI -5.22% TSLA -4.94% PLTR -3.73% VST -3.07% CRWD -2.76% *  *  *  * Earnings Report Reporting Today Rating Before Open After Close No earnings reporting today. Earnings Surprises No significant Earnings Surprises in the Russell 3000. *  *  *  * You have received this e-mail as part of your subscription to PowerFeed. If you no longer want to receive e-mails from PowerFeed, click here. You're receiving this e-mail at indra21poetra@gmail.com. For questions about your account or to speak with customer service, call +1 (877) 697-6783 (U.S.), 9 a.m. - 5 p.m. Eastern time or e-mail info@chaikinanalytics.com. Please note: The law prohibits us from giving personalized investment advice. © 2024 Chaikin Analytics, LLC. All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from Chaikin Analytics, LLC. 201 King Of Prussia Rd., Suite 650, Radnor, PA 19087. www.chaikinanalytics.com. Any brokers mentioned constitute a partial list of available brokers and is for your information only. Chaikin Analytics, LLC, does not recommend or endorse any brokers, dealers, or investment advisors. Chaikin Analytics forbids its writers from having a financial interest in any security they recommend to our subscribers. All employees of Chaikin Analytics, LLC (and affiliated companies) must wait 24 hours after an investment recommendation is published online – or 72 hours after a direct mail publication is sent – before acting on that recommendation. This work is based on SEC filings, current events, interviews, corporate press releases, and what we've learned as financial journalists. It may contain errors, and you shouldn't make any investment decision based solely on what you read here. It's your money and your responsibility.