23 replies to this topic

[Remo]

I just want to mention that in january of 09, some folks here were expressing their bullish views on junk bonds while I insisted it was in wave B. And within days, junk bonds went into a very quick correction that lasted until march.

And few weeks ago some folks here were pounding the table with their bearish crash views and even told readers to mark down their post... I think one of them mentioned something of imminent 5th wave decline

Right after that the market started rallying and has been doing just that ever since... And it's been the biggest 4 week rally since 1930.

So maybe instead of following them, it pays to fade them. Especially when they get too arrogant and too sure of themselves.

Edited by Remo, 04 April 2009 - 09:51 AM.

[Gary Smith]

I just want to mention that in january of 09, some folks here were expressing their bullish views on junk bonds while I insisted it was in wave B. And within days, junk bonds went into a very quick correction that lasted until march.

And few weeks ago some folks here were pounding the table with their bearish crash views and even told readers to mark down their post... I think one of them mentioned something of imminent 5th wave decline ;)

Right after that the market started rallying and has been doing just that ever since... And it's been the biggest 4 week rally since 1930.

So maybe instead of following them, it pays to fade them. Especially when they get too arrogant and too sure of themselves.

Good one Remo. And he's also the most misinformed and misguided poster on this board. He sort of disappeared during that month long rally in stocks. What irks me is he has not a clue to the junk bond market. He used a chart of PHK as his proxy for junk bonds which is insanity if you know the particular issues that particular fund has faced. It has also been said a 1000 times the closed end junk bond market, be it PHK or whatever, is not a proxy for junk because of their wild gyrations to either huge premiums or discounts to NAV. And junk bonds didn't top out temporarily in early January as he claims, but February. And as we speak junk bonds based on the cash indexes or a composite of 10 open end junk funds are all at new highs off their mid-Demember lows. He's totally oblivious to the fact that junk has just seen its second greatest four month rally in modern junk bond history. Junk bonds are much more than just lines on a chart because all of the historical returns from junk bond funds have come from their dividends which are not reflected in such lines. Some posters ought to be banned for not just their arrogance, but their ignorance.

Edited by Gary Smith, 04 April 2009 - 12:41 PM.

[dcengr]

I guess some people just don't like me or at least my market views

[IndexTrader]

I guess some people just don't like me or at least my market views

And you thought I was tough on ya.

IT