Follower Beware

[Bullitt]

Be careful when blindly following any market timer or investor- especially one who's emotionally attached to his own points of view. Nobody is smarter than the market and nobody can tell the future.

[FONT=Georgia, Times New Roman, Times, Serif]http://www.traders-talk.com/mb2/index.php?showtopic=107393[/FONT]

 

[XL-entLady]

A big amen to that, Bullitt! For any newbies out there, pay attention to this guy. He doesn't have a position to sell you. He just gives consistently good advice.

And I've also found out the hard way that nothing ever works all the time. I just have to keep trying to learn as much as I can and reviewing what I think I already know to make sure it fits current realities.

Lady

 

[Bullitt]

Some thoughts on market commentary to ponder before following the pied piper off the cliff.

 

[coolhand]

Some thoughts on market commentary to ponder before following the pied piper off the cliff.

He had a lot of folks follow him off that cliff. I wasn't one them, but I saw it happening. Sounded good when the market was tanking, but when it didn't continue he didn't change his perspective.

 

[JTH]

Ha ha, I saw his X-positions the other night and noticed he finally acknowledged his FAZ position was a loser. I took a big hit on FAZ too, chalk it up to learning the hard way.

I wonder how many folks took the FAZ hit as a result of following someone else more than themselves?

 

[Birchtree]

I've been beaten to death following the moves made by amoeba. Rather humbling too.

 

[Bullitt]

I don't know, but for some reason the quote by Bill Clinton, "I did not have sexual relations with that woman", came to mind when I read this article.

I didn’t stay bearish at the lows, which is contrary to popular opinion. I was basically neutral.

http://www.businessinsider.com/rosenberg-i-wasnt-bearish-at-the-lows-2009-9

 

[Bullitt]

I'm going out on a limb here even though this is sure to aggravate a lot of buy and hopers....

Previously, the record for most user ever online at tsptalk.com was on July 20, 2007, a day that basically proved that it was time to get the heck out. Though the market did rally to a double top, July 20 was pretty much THE top.

That record, however long it stood, was finally broken on May 20, 2010 when the market nearly blew through the Flash Crash lows.

Maybe it's coincidence, maybe it's fear and time for the bulls to celebrate a big panic driven uptrend, or maybe it's a sign of the end of the trend. Either way, this is one more thing coupled with the extravagant complacency, dead cat bounce seekers and government interventions that tells me we're in for a real fun ride in the next couple of months.

 

[tsptalk]

Hey Bullitt-

Sorry for the confusion.... When I had problems with the website last week, that "most online" figure was reset for some reason. On May 20 we had 299, as it says, but the record was actually 737 on July 30, 2007. The database hiccuped and reset that number.

I have been debating about going in to try to manually reset it, once I figure out how to do it.

Your premise may be correct anyway because, I don't recall what happened in 2007 - could have been when the Ebbchart system was going nuts, but the number will jump on the rare occasion (maybe every other year or so) when I send out a mass email announcement to all members.

So, sorry to mess up you data. I will try to figure out how to update it.