28 replies to this topic

[inamosa]

Thanks for the advice, CMI I consider you one of the better posters here because you know the importance of keeping your powder dry and waiting patiently until the conditions are right for your trade There are a lot of traders for whom this simple concept, not implemented, causes a great deal of trouble

[Frankie]

I don't have much time, but I was a subscriber during the 03 bull, and he fought it for years. Lost lots of people money.

[milbank]

Permabears and Permabulls like Prechter and da_cheif are bound to be right during some part of the market cycles. But, both have been wrong for decades on their so called "Big picture stuff". Prechter at least posts some e-wave charts to back his opinion. I am yet to see one single e-wave chart from da_cheif, anywhere on the web. Both are big waste of my time IMHO. There's no substitute for independent thinking in this business.

Cycletimer made a very astute observation a few months ago regarding the "shoe salesman and penny stock promoter" in particular and low-end subscription trollers in general. He said these bath tub gin hustlers are always bullish because that's what attracts pikers to subscribe so, he puts no stock in anything they say because essentially that's all they say no matter where the market is going.

Edited by milbank, 30 August 2009 - 01:24 PM.

[milbank]

Here's what he said. . .

Don W. is a perma-Bull because he has found over the years that Bullish advisors (vendors!) sell more subscriptions than Bearish ones. No one wants to hear bearish forecasts, they want to hear bullish news all the time. Joe Public doesn't sell short, they BUY....therefore Don W. being the salesman that he is, will always be bullish. That's why I can disregard his gibberish.

I am bullish also, through the Summer to 1010-1050 (basis the SPX) but for now I am bearish down to about 845-860. Not much of a move but the Call credit spread and the credit I received for that high strike, time is on my side and it should make out great from a risk/reward standpoint. If there truly will be a "biggest one-day rally of all time" it will not occur until sometime in June.

I like this line especially. . .

Joe Public doesn't sell short, they BUY....therefore Don W. being the salesman that he is, will always be bullish.

[Russ]

Here's what he said. . .

Don W. is a perma-Bull because he has found over the years that Bullish advisors (vendors!) sell more subscriptions than Bearish ones. No one wants to hear bearish forecasts, they want to hear bullish news all the time. Joe Public doesn't sell short, they BUY....therefore Don W. being the salesman that he is, will always be bullish. That's why I can disregard his gibberish.

I am bullish also, through the Summer to 1010-1050 (basis the SPX) but for now I am bearish down to about 845-860. Not much of a move but the Call credit spread and the credit I received for that high strike, time is on my side and it should make out great from a risk/reward standpoint. If there truly will be a "biggest one-day rally of all time" it will not occur until sometime in June.

I like this line especially. . .

Joe Public doesn't sell short, they BUY....therefore Don W. being the salesman that he is, will always be bullish.

Western Canada's richest businessman - Billionaire Jim Pattison has reportedly subscribed to the shoesalesman's service for decades and is still with him last I heard. So he must be doing something right to keep Mr. P happy. Pattison is very clever, he started out with nothing, was just a lot boy on a car dealership, he now owns huge amounts of western Canada, everything from grocery chains, car dealerships, shipping, advertising, radio... a tycoon.

Edited by Russ, 30 August 2009 - 07:46 PM.

[Russ]

Soros Management and Paul Tudor Jones can be added to the list of subscribers, how studid can these people be?

[goldswinger]

Maybe he uses him as a contrarian indicator. There is value in that. And a guy with that much mula could easily afford a basket of forecast services. GS.

[Russ]

Maybe he uses him as a contrarian indicator. There is value in that. And a guy with that much mula could easily afford a basket of forecast services.

GS.

They could just read the newpaper to see what the public thinks, that makes no sense. These people did not get rich listening to fools.

Mr. W just called the low in march perfectly in case you forgot, he deserves credit for that call, his is a very good bottom picker, I also recall early 2007 he called the low back then on this board.

[goldswinger]

Maybe he uses him as a contrarian indicator. There is value in that. And a guy with that much mula could easily afford a basket of forecast services.

GS.

They could just read the newpaper to see what the public thinks, that makes no sense. These people did not get rich listening to fools.

Mr. W just called the low in march perfectly in case you forgot, he deserves credit for that call, his is a very good bottom picker, I also recall early 2007 he called the low back then on this board.

I thought we were talking about prechter here.

As far as Mr W. A broken clock is right twice a day.......

GS.