I saw yesterday that The Fly posted the video of Carter Worth aka “Carter Worthless” trash talking Deutsche Bank ($DB), saying it could go to $0. I knew that was a HUGE buy signal on this stock. Carter is not only worthless but dangerous. Then again, he is awesome if you fade him.
The problem with technical analysts is they always want to buy at a top and sell at a low. The problem with that is investors are conditioned to sell at a top and buy at a bottom. Never the two shall meet. The best technical analysts I know try to buy as the base ends and a name improves. Likewise sell a broad based top that begins to fade.
Back to Worthless and others like him, and there are many of which several reside on CNBC, they sound smart in how they present. Seems like they know how the game is played yet their analysis is based on their gut and not a rigid process that is repeated time and again.
The one thing I respect The Fly for is creating Exodus. Stick with analysts and pundits that have a rigorous quantitative process and fade those that put their finger to the wind.If you enjoy the content at iBankCoin, please follow us on Twitter