Cramer? CNBC? Kudlow? Maria? Goldman? Morgan Stanley? Why are people paying these people money? All you have to do is point your browser to iBankcoin.com. I checked Fly’s post, even Traddinggoddess made a visit today in the comments. Howard Lindzon stops by some times. And probably Tim Knight. There’s some talent in the stock blogging community, and you’ve come to one of the best.
I still believe most people don’t know how to trade this market. Come on now, if you are green YTD, then you’re doing great, I mean stupid great! But we have bloggers here with insane gains, like +50%! Its safe to say, they’re finally catching up to me. 😉 …I posted this over at my old blog in April:
Tuesday, April 08, 2008
Right now, you shouldn’t trade
Why am I dogmatic all of a sudden? Because I see people still buying GRMN, or AAPL, or VMW, or GOOG …. HAHAHAHA!! All of them will re-test the lows in a few months… GRMN did so today, that was your warning. Hello folks, GRMN started the bull rally in 2003. And now I’m here to slap that into your face… so don’t tell, “yeah, I’m going long term these warriors.” Look, GOOG will NOT get back to the 200 MA, it will have to consolidate for months… YES MONTHS, maybe like 14 months, to get back to that level. And people who keep buying GOOG for “the long term” just tell me that they are rookies, who don’t know what a QCOM, CSCO, MVIS, IOM of 2000 are. Too many people are guessing right now, that includes about 90% of the bears (I probably know only 4 guys who know how to short stocks… one of them is Fly).
… therefore, look at your portfolio, if you are long any stocks that are heading back up to the 200 MA, then well, you’re an idiot. I now no longer have any longs, but I am just watching a few of them from the side that are consolidating on low volume, and some that actually managed to break out… these are smaller companies with products I believe will be hot post-recession. So go ahead, and try to find “bargains” in old leaders, I’m setting up for the next forest-fire recovery period. If you are not suspicious of THIS MUCH GOVERNMENT intervention in our markets in such a short period, then you’re forgetting the big picture. Capital markets work best in laissez faire (spelling?) environments… as I’ve said before, mess with the laws of economics, you’ll be punished. The market ALWAYS balances itself. If it doesn’t, the game is over. Vix to 40.”
Looks like the Surfer lost his leash, unless his is 30ft long. Imagine the swimming he’ll be doing. Perfect picture for your oh-so-true post.
great post Gio.
Cramer, just now, lol moment of the century: “That was not the bottom”
Cramer – “Do I know what’s next? NO! I’m just a guy on TV who traded through that last crash”
Finally, some reality from captain dumbass.
I’d be cool w/ Maria being an IBC reporter though.
Wish I’d read your old blog in April.
Nahhhhh, I’d have been too dumb (and, up to that point, too lucky) to listen.
I am interested in the CanSlim method, tho. Hope you post more about your trading methodology/rationale.
This site has more good, actionable information than any other site I’ve seen. Fly and you headliners do a great job.
Anton… http://www.investors.com/learn/c.asp
$NAUD says the market bounces Thursday or FRI–
If I see XLE or IWM down on Thursday, I might try to pick something long out of those holdings.
Thanks, Recusancy, I’ll check that out. When I subscribed to RealMoney (don’t throw pies, I didn’t know where else to start) there was briefly a writer there named Joshua Hayes, a Hawaii resident like Gio, who had been using CanSlim for years and getting great results. (For a while I thought Gio and Josh were the same person.) I think he posts a free market wrap up video at bigwavetrading.com, if you’re interested. I haven’t had time to read him much lately.
What I’ve read about CanSlim makes sense to me. I don’t know how it jibes with Danny’s system or what WoodShedder’s been working on. They’re into some advanced math all their own.
Congratulations on your glowing review by Lindzon over at the Huffington Post. I almost didn’t read it because of all the kooks over there. I foresee massive advertising revenues in iBC’s future.
I also, unfortunately, smell “emergency” rate cut by the Soviet Central Bank.