Let the bloggers blog about it. Just know that iBankCoin called it first…
” I wouldn’t be surprised to see a relief rally of epic proportions… one every blog will be writing about.”
-Gio http://ibankcoin.com/gioblog/?p=2086 Oct 6, 2008
There’s only one site you should visit for your stock market needs:
Make iBC your market homepage.
Nothing against you because I think you are one of the brightest bloggers on this site, but was calling a massive bounce really that spectacular? All I had been reading all week was how over-sold the market was and how the VIX was at an all-time high. I thought it seemed pretty obvious that we were going to bounce.
dead cat bounce. CLF, TGT still down big time.
Fox you’re right, it was expected. But I think warning of it coming a week in advance, and calling it a day before it happened and actually buying stocks a day before (“putting money where my mouth is”) it happened makes for something, right? I mean, there are a ton of bottom callers out there who eventually get it right, and a lot of people who misuse the Vix, so I try to shed light on how to use the Vix the best way I can… which is never 100% right.
If we don’t make calls, why blog? Its all for educational purposes anyway, and a place where we can feel good about a win… i mean, if you were one of the few who spotted “THE BIGGEST GAIN IN THE DOW’S HISTORY”, then, why not blog it! all i care about is that people can make money in this game, so hope you were on the right side.
If you’re interested in one of my most horrible calls, take a look at MEA. I had high hopes for that stock, but it sucks.
aLoHa!
Bait… it certainly is a huge fat dead cat.
The winners in this market are not long or short, but the ones that can stomach the volatility or are patient enough to trade enter and exit it.
FYI; Cramer has officially retired the term “dead cat bounce” because, he says, his cat got hit by a truck and it did not giddy-up anymore.
If only he’d been holding it at the time…
Cramer would bounce.
Amen.
I will be sure to include those words during grace.
Gio-
Thanks for the response. Again, I read your blog with wild enthusiasm because you are one of the best. That isn’t me blowing smoke up your hula skirt; that is me being dead honest. Keep doing your thing and don’t worry about MEA. I have a whole host of stocks that “sucked out loud” . It happens. Good luck!!!
One more thing- I am not sure what island BJ Penn lives on, but have you ever run into him? Just curious. I’m a big MMA fan. Peace.
Gio:
Greatly appreciate your posts.
I have been following you since June when I sent my youngest out to Hawai’i with her Grandparents. I was wandering around the internet(s) learning about what she was sight seeing and I guess since I am trader I stumbled upon your posts.
Your position on making a call on your blogs is the linchpin. Taking a — ON the one hand versus ON the other hand — position is useless to a trader who wants to take advantage of the three to five day moves the market makes.
Please continue.
Hey no problem Fox. its hard to find honesty on the web nowadays. No? BJ Penn… not sure where he lives, but i have an idea where he might hang out. Probably at Level 4.
Howzit Rag… too bad you couldn’t come down to Hawaii too. i mean its a good place to get away and forget about the market for a while.
Geo,excellent work bra.One local boy dats plenny akamai.
Akamai!
Woke up at 430am and bought UYG. At first light, noticed no wind and a swell on our north shore. It was not epic, in fact a little sloppy but it was the first swell of the winter, Last week looked bleak, but most surfer/traders know, another swell will come, an epic one is due. Start building positions, financials, tech maybe an insurance company like Aflac and Travellers. I also like FCX down here. I thhink my man Heebner likes it and PBR. Hope you surfers stayed in shape as we will have light winds and NNW swells for the next several months. Are you ready. Wake up, trade, surf. Life is good…Go surf Gio!
Well said Russ… there’s always a wave out there to ride… are you patient enough to paddle out when the conditions are right?
Eddie would go. Get out and ride ’em!
Can you believe the crazy +80% gains in MS! Or how about GNW!! Insanity. My mom owns MS from the IPO of Dean Witter. Talk about a rollercoaster. Overall, she’s still up. Buy and hold anyone? Mother knows best…