Comments & Questions Or: Yes I do read your feedback
*TMAP*d17v14 (read the first comment to see why it is named as such. Though this is still part of The Market is About to Plunge series--specifically Day 17 and Volume 14--I don't want people thinking I'm a permabear when I'm not. at all. The future of America is perhaps not as bright as our past, but we aren't doomed either.
jstegma (99.81) wrote:
Keep up the good work GMX.
If I had one recommended improvement it would be to put better titles on your recent blogs. This isn't some technotrance bullsh*t. It's good material. I notice some people in the comments above seem to act as if you're a permabear gloom-and-doom ranter, and the only reason I can think of is that the title makes it sound like that. (if you are one of these people, then go and look at some of the GMX picks and you'll see he wasn't some goofball calling for DOW 4000 or whatever) There are some good green thumb picks in there.
Duly noted. Also, thanks for the kind words; I'm not a permabear and my scoregraph and history of picking Citigroup to outperform frequently enough to become score leader on it helps prove that. I scored a ton of points in the two weeks after the March bottom as my score graph shows.
--- JGus (99.10)
portefeuille and rofgile - The comparisons you are making is rediculous!!! goldminingXpert's pick of WNR was in August of 2008! How many stocks have DOUBLED from then until now?!?! They could probably be counted on two hands!!! If you look at stocks that have rallied off the lows since the crash happened, there are some 15+ baggers out there. Unfortunately, ALL of those stocks are still down 30-90% from where they were in August of last year! If you're going to present an argument against someone, make sure it's not full of hot air!!!
Outoffocus kept things in focus writing:
Lets not forget the more recent [GMX's] Don't short the market just yet post. It was quite timely and quite accurate. This is why I don't bother to join in the bear/bull argument. Like I said before, if you are investing long term it shouldn't matter much, but if you are investing short term thinking you will make massive profits at DOW 10000, I got news for you. If the DOW makes 10k (which I doubt) anytime this year, that to me is the ultimate sell indicator. Because if it makes it that high it will overcorrect to DOW 5000.
This is true, if you are a long-term investor and you haven't already gotten scared out, you probably shouldn't be selling now--though lightening up a hair with the dow over 8k and reloading at 6,500 again would be nice.
dwot (99.99) wrote:
I am still chuckling at the Coppex Indictor discussion in your smearblog link...
It is funny. I agree.
portefeuille (99.97) wrote:
(first, please do not take this personal again, I have not followed your multitude of posts, just the last few ones and I have nothing to say about them)
Why did your player gmxmkttiming (for gmx market timing I suppose) not do that well? I think its score line is tracking that of your other player goldminingxpert pretty closely. Maybe you could post a link to the graph comparing those two players (the one you see when you click here being logged in as goldminingxpert). Again, nothing personal ...
GMX writes: No offense taken. Gmxmkttiming made a bad sector call to short gold. That makes up the majority of the point losses. The account has been quite dormant recently as I was waiting for a clear top (that we finally got at 930) before firing all its barrels short.
OleDrippy (88.01) wrote:
It is a tug of war and I'm not certain who will win, "The Man" vs. Nature.. My inclination is nature will emerge victorious, it's just a matter of WHEN.
Agreed. Hopefully soon so my put contracts pay off and then I can buy stocks at reasonable prices.
mistermiranga (91.39) wrote:
Anyone long for the past month has made good coin at the direct expensive of the short sellers. Markets are manipulated in a variety of ways.
The lesson is to trust no one with our hard earned money. Be diligent and protect yourself...no matter what your idealogy.
You have no idea just how accurate your statement was. I want to rec your statement by itself.
alstry (99.86) wrote:
Can't you see that HUGE convex reflector formation.
Nothing reverses Ghoser and the spector vectors like the luster effect of physical Gold....NOTHING!!!!!!!
I have no idea what this means so I will ignore it.
ChrisGraley (99.58) wrote:
I'm sitting pretty today and so far I'm ranked higher than I've ever been. If everything sticks for the day I'll close the day with my first 99+ score.
Congrats Mr. 99.58 man. Nice work. May the power of the bear elevate you farther!
DanePymble (43.84) wrote:
I proclaim that people are not fearful enough in respect of what is yet to come. You should see what it is like here in Australia, we really don't get it, typical close minded view that whilst things are bad overseas they can't possibly get that bad here......
Thanks for the link, very good read....
I agree. People saw the first wave of the crisis pass, then the second wave and are now relaxed. Well, we survived Bear and Lehman so we must be alright. Well, no, not really. Actually, not at all. The whole banking system needs money as even the rigged stress tests show, the housing market is still collapsing and have you talked to anyone trying to find a job? Depressing--there's nothing at all, and I'm in Colorado where the unemployment rate isn't rising as fast as nationally.
crystlz (48.55) wrote:
I've only been around for a while here but I've come to highly value your opinions. So how many points does the market have to correct here before we can all agree that you made another good call?
btw, where I live in Ozark, MO (pop. -10,000) 2 Chrysler related dealership closings announced today. I love my charts and company research but just driving by these 2 large local employers shuttered businesses is sobering. We were expecting a consolidation of the two dealerships and instead lost a lot of jobs.
My point is that a jobless recovery at circa 9% unemployment (U3) is just not happening here. The corporate layoffs have produced some Q1 profits that were higher than I expected and the Banks proits on operating expenses are further squeezing depositors. E.G. My wife has a CD with BAC and had to take out a checking account in order to get a special rate. Now BAC is charging a $20/month service charge on a $100 checking account. I haven't read the small print so I don't know if after the $100 is gone if they start deducting interest from her CD. They also raised the interest rate on her credit card with no late payment. Even ignoring the massive load of toxic assets that BAC is carrying I suggest that this is not a sustainable business model. 1 rec from me.
This makes me the sadest of all the comments. I totally empathize with the tragedies that Wall Street and a broken government have wrought on the real America. It's stunning that we've allowed a few MBAs and a few lying congressmen to destroy our economy. Your account jives with what I've heard from others around the country--there may be the illusion of recovery in some cities but in the real America, real Americans are really hurting and a pork-laden stimulus project isn't going to fix that.
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Check back for more analysis in the series tomorrow: At A Fork In The Chart--Retest or Breakdown arrives tomorrow morning.