Not the fake Gary B. Smith on Bulls and Bears (who by the way has had a buy signal on the financials and housing for weeks), but our old friend who played those tight rising channels. I know he is jogging somewhere, but I would like his take on the market and his outlook for the next few weeks and months.
Whatever happened to Gary Smith
Started by
FrankT
, Nov 21 2007 06:06 PM
5 replies to this topic
#2
dcengr
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Posted 21 November 2007 - 06:25 PM
Qui custodiet ipsos custodes?
#3
hiker
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Posted 21 November 2007 - 06:41 PM
dc -
that link is for a blog by Gary Savage in Las Vegas...not Gary Smith who lives elsewhere.
#4
dcengr
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Posted 21 November 2007 - 06:49 PM
dc -
that link is for a blog by Gary Savage in Las Vegas...not Gary Smith who lives elsewhere.
Oops sorry, I thought it was him.
Qui custodiet ipsos custodes?
#5
Gary Smith
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Posted 21 November 2007 - 07:31 PM
Not the fake Gary B. Smith on Bulls and Bears (who by the way has had a buy signal on the financials and housing for weeks), but our old friend who played those tight rising channels. I know he is jogging somewhere, but I would like his take on the market and his outlook for the next few weeks and months.
Hi Frank, still running and still trading. Being a reactionary (as opposed to predictive) trader not sure my take on the markets is anything to take to the bank. My worries are the lack of fear out there and all the bottom picking. It seems there is more fear of missing the bottom than there is fear of the decline continuing. Really troublesome is the turmoil in the junk bond market as evidenced by the open-end funds which most closely mirror what is happening in the cash junk market. They have been declining day after day after day recently with no relief in sight. Defaults on junk bonds are still near historic lows and I worry what might occur in the coming months as these default rates begin rising. I hold only two positions but ready to get more aggressive if we get another 9 to 1 up volume day on the NYSE or some other catalyst. There are positives out there such as the COT, the record shorting and some other sentiment indicators but price trumps everything else and as we have seen lately, price hasn't been looking very good.
#6
FrankT
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Posted 21 November 2007 - 07:58 PM
It is good to know you are still out there trading and remaining successful. I hope retirement is continuing to keep you happy, healthy and rich. You need to check in here from time to time and let us know what an old pro is doing. Take care, Gary.
