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abitare (99.38)

10964 Points, Schiff on 23 Oct, Ron Paul on 24 OCT, Will Ferrel as Bush (Humor)

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October 24, 2008 – Comments (11) | RELATED TICKERS: SKF

Some how I managed to climb and stay #1 in points and abitarePERFECT is #6?
I am surprised really at the incredible speed and size of the sell off.

My post on Dec 07 guessed 25% sell off for DOW and 40% sell off in China.

dwot replied “you think the DOW will only fall 25%?”
We were so young and naive, back in Dec 07. It seems like a long time ago?

If I had a brain I would close out all my Fool portfolio and just sit here.

I had a bad trading day. I should have done well, so should most of the Fools here. Are the Top Fools misleading you the way the media has? Look at the Top Players, look at the Top Bloggers, it seems most avid Fools should have made some money today. I hope they did anyways.

As for me, I put in an order to buy at market at open and took a good hit. Never, buy at Market at the open, it is a great opportunity for the market maker to pay down his beach house or to upgrade his yacht with your money. I will write on this later. I have a hard time discussing it with out profanity. I am rereading Trading for A Living as penance for my idiocy.

My computer keeps crashing, so I have not kept up with the markets as well as I liked this week.

But for some reason CNBC keeps putting all the BEARS on this week? Schiff, Rogers, Nouriel Roubini, Marc Faber.

I think it is HIGHLY SUSPECT, the media is showcasing these guys, now. Something is going on. I do not know what…like I said. I would not be surprised to see a “rip your face off rally”, before a continued sell off. The US media is a great source of Disinformation, the fact they are having BEAR parade week, is suspect to me.

If you want to read about how bad US media is here:

The Disinformation Age - Part I
http://www.sandersresearch.com/index.php?option=com_content&task=view&id=1366&Itemid=100

Peter Schiff here on Squawk Box 23 OCT 08



On CNN today a Motley Fool spokesmen was on taking on Peter Schiff? I did NOT hear the video, just saw part of the clip. I am a major Ron Paul and Peter Schiff follower. Calling out Schiff is like calling out Moses as he parting the Red Sea for your escape. It is close to blasphemy.

Peter Schiff should have said “the highest points player on CAPS, thinks I am awesome and recommends my book, Crashproof”. Next time Fool, confronts Schiff, they should send me as there spokesperson. Although I might get “star struck” and ask for an autograph instead of playing CNNs “Bull vs Bear” game.

CNN has Ron Paul Hits Out At "Arrogant" Greenspan 24 OCT 08


HUMOR

George Bush Supporting Palin and McCain



More Classic Bush

See more funny videos at Funny or Die


11 Comments – Post Your Own

#1) On October 24, 2008 at 9:55 PM, Tastylunch (29.93) wrote:

yeah well CNBC has always performance chased, if you want to know what happened last week or last month. today, CNBC is for you. If you want to know where we are going you'll have to look elsewhere.

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#2) On October 24, 2008 at 10:49 PM, QualityPicks (34.50) wrote:

I think it is actually traders that manipulate or just use the media. They position themselves, then they announce the news. Or if a fund manager or CEO wants to pump their stock, they just go to CNBC as an expert, and "for free" :)

Anyway, CNBC just "breaks the news" that the real manipulators want us to hear. Is more like everybody is using them, as opposed to the media misinforming.

They spin the news according to the market reaction. So if the market goes down, they'll say why the market does not like the news. It is so funny to see that. For example, one day oil is down and if the market goes up, they say that the markets are happy because oil is such a tax burden on the economy. Then next week, oil goes down again, but market goes down. And they say that the fact that oil is going down makes the markets believe that the economy is weak and cannot pay high gas prices.

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#3) On October 24, 2008 at 11:59 PM, Option1307 (30.51) wrote:

a. Thats a lot of points, I can't even count that high.

b. I'm glad your "suedo" retirement from the blogs is going well cause I love all the video posts.

Thanks for the thoughts as usual, really interesting and useful.

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#4) On October 25, 2008 at 12:15 AM, d1david (29.89) wrote:

CNBS is known as the pump-monkeys... maybe "someone" is trying to purposefully get the market to test the lows so they can pull the rug on the bears and announce a sticksave and then call it a "double bottom" and we are off to the races till December. 

Yea... thanks for posting this... hopefully it will keep me from being all in, when the rug gets pulled..

People think its easy to make money in a bear market being bearish... those that think that have obviously not tried to trade these downturns.  Its definately not for the faint of heart.

Hope to catch you in points one day.

-David (only 2k below you) 

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#5) On October 25, 2008 at 1:56 AM, awallejr (80.13) wrote:

Despite the fact that the one thing I do like about you are your videos, I'd be more than haoppy to take Peter Schiff on publicly in a heartbeat. 

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#6) On October 25, 2008 at 5:11 AM, abitare (99.38) wrote:

ALCON,

Good to here from you, good replies here. One of the unusual benefits of having a high score and Top spot is you get more groupies and better feedback and replies.

So as at least "I have that going for me".

My semi-retirement has a little to do with the idiotic Market order I put in, ie I need to focus on my portfolio.

I am not above doing the opposite of CNBC recommendation, in fact, a lot of my favorite UNDERPERFORMS come after watching a CNBC shill or CEO or paid liar go on CNBC.

Tastylunch,

Concur

QualityPicks,

Yepper. I might add, on the Disciplined Investor Podcast Barry Rizholdz from the Big Picture,  does not have a TV on for his traders during market hours.

d1david,

It is tough to tell how long this current portfolio will work. I watched the rise and fall of the "Heretic" gold bug downwithinfidels.The underperform all the homebuilders guy rise and fall. Not Floridabuilder, another guy, who I cannot find now.

I watched all the China Bulls rise and fall. The commodity Bulls rise and fall. So I recognize all the uber-bears may get taken out, a matter of time. I am not sure I will stay an uber bear. I am really a commdity bull in hiding.

If you have not seen my updown.com portfolio go take a gander. It is under abitarecatania. It seems more impressive then my CAPS portfolio.  I think it was Lordz who was mocking the Allstars in CAPS, so I created the account.

I am ranked #38 out of 99K.

awallejr,

Here is Schiff collecting a penny, I would guess you would also lose a penny.

 

 

 

 

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#7) On October 25, 2008 at 5:34 AM, abitare (99.38) wrote:

CORRECTION

My post on Dec 07 guessed 25% sell off for DOW and 40% sell off in China.

dwot said:

Interesting that you think the Chinese market falls 40% and the US only 25% by comparison...

I think they both fall, but I think the Chinese market manages to pick itself up faster and better.

I actually said:

S&P Falls 25%, Chinesse Mkt Falls 40%, Ron Paul Wins Presidency, Oil $175 etc...

 

 

 

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#8) On October 25, 2008 at 6:02 AM, AnomaLee (29.23) wrote:

I'd be interested to know who the person was from TMF. You find different views among people everywhere. Some are more equal than others...

I've been very short-term oriented, so I actually closed/sold two losing trades today after some technicals broke down later in the day. I emphasize risk management with my portfolio, but I can endure a certain level of volatility. I'm doing okay in this market(basically flat) but I've far outperformed the market overall, but that isn't very difficult. You might've jinxed yourself again with this post, but I bet you'll probably grasp the #1 position in points for a while, unless you decide to fade away like TMFEldrehead to give us little people a chance OR the rules are changed here.

I tend to focus on long positions here, so I gave up trying to be top 100 on CAPs shortfly I reached the top 80 and I realized everything would eventually decline along with my score. I'm just glad to know I'm capable of executing large strategies thanks to computers and the internet. I doubt I'll reach the top 10 with this profile since many of the top players here have similar thinking or outright copy each other. I've been sitting in a similar to cash position by just avoiding picks to avoid falling too far behind, but I haven't put nearly as much effort into picking stocks since there aren't many stocks you should be picking right now.

It's weird to see how different the scores are now, and how many different positions have been shuffled --- including yours... 

BTW: Thanks for the SNL video. It was mentioned to me by a friend, but I hadn't seen it 'til just now. SNL has been revitalized and is receiving record high ratings thanks to the election. I'm glad NBC is transitioning and publishing a lot of content on the internet. Discounting CNBC + Bloomber I've probably watched 10 hours of actual TV in the past month. It's really helped people like me me keep up with content and I'm glad more people are using it...

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#9) On October 25, 2008 at 6:14 AM, abitare (99.38) wrote:

AnomaLee,

The TMF guy was young, maybe in his 20s.I was looking for the video, no luck finding it, yet.

Making money in the market and being an ALLSTAR are NOT directly correlated. Being a scuessful investor is more diffictult then green and red thumbs in a challenging market.  There are better platforms to guage performance. Take a look at updown.com, I am over there too. But I am over at Fool more for useful content. 

There are some major shifts going on in the market. I am a Bear, but we are sitting on a remote possibility of hyper inflation. 

I cannot imagine the Fool staff likes having many of its Top Fools being uber Bears.

I have been taken down many times, I can see a scenerio, where I get taken down again.

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#10) On October 25, 2008 at 8:20 AM, lquadland10 (< 20) wrote:

http://www.leap2020.eu/GEAB-N-28-is-available!-Global-systemic-crisis-Alert-Summer-2009-The-US-government-defaults-on-its-debt_a2250.html

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#11) On October 25, 2008 at 8:27 AM, lquadland10 (< 20) wrote:

51 trillion in debt now 52 trillion and counting on thin air.

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