Robert Precther
#21
Posted 30 August 2009 - 11:02 AM
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
#22
Posted 30 August 2009 - 01:20 PM
#23
Posted 30 August 2009 - 01:22 PM
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.
"The power of accurate observation is commonly called cynicism by those who have not got it."
--George Bernard Shaw
"None are so hopelessly enslaved as those who falsely believe they are free."
--Johann Wolfgang von Goethe
#24
Posted 30 August 2009 - 01:47 PM
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.
"The power of accurate observation is commonly called cynicism by those who have not got it."
--George Bernard Shaw
"None are so hopelessly enslaved as those who falsely believe they are free."
--Johann Wolfgang von Goethe
#25
Posted 30 August 2009 - 07:45 PM
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.
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#26
Posted 30 August 2009 - 08:20 PM
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#27
Posted 30 August 2009 - 08:43 PM
#28
Posted 30 August 2009 - 10:01 PM
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.
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#29
Posted 30 August 2009 - 10:28 PM
I thought we were talking about prechter here.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.
As far as Mr W. A broken clock is right twice a day.......
GS.