Hi JP,
Thanks for the reality check.
To address your concerns:
<Why didn't you accurately predict the rally after the FOMC
and right before July 4? And why weren't you announcing
the "head and shoulders" yesterday after a rally?>
My thesis since Feb was there was a major market correction coming and I picked June 20th based on a number of factors. I wish I could predict each and evry move in the markets, don't you? And I wish I could take credit for the position of the head in the H&S... that was a suggestion from others who share on this thread... and I happen to agree it was where I positioned the H&S and not the thesis that was bad.
<On days when the market is strong you seem baffled, and on
days when the market is weak you suddenly find more evidence
to support your theories. Of course the market will correct, stocks
just don't go up all the time. >
After the move into record territory which was greater than 1% of the top I saw on June 20th, I believed my thesis was incorrect. Remember, my prediction was based on TIME and not PRICE... something I forgot about entirely when it came to abandoning my thesis.
<You would be much more convincing if you had stuck to your
guns during the rallies. That's why in all the time I've read SI,
the fact is that I've gleaned so little to actually use to make money!>
Yes, I deserve that. As far as providing information to make $$, I hadn't realized we were here to do that for you.... would be nice, but I thought it was a forum to present your ideas, share investment approaches and exchange information. In fact, if you click on "Terms of Use" directly over the window you used to pen your post on this thread, you find: <You rely on information posted by other users solely at your own risk. >
I have repeatedly warned all who follow SI posts to do your own homework and never rely on others for investment advice... that you and you alone are responsible for you investment decisions.
I appreciate you taking the time to post your concerns. I think it helps everyone when we are able to see ourselves as others see us...
And lastly. the best "advice" I have ever given anyone is to let the market tell you what to do... the market is NEVER wrong... you are. (Or, in this case, I am.)
Regards and thanks again,
Bill |
