Dennis
<look at how many WS bozos keep calling a bottom>
Yes, this is a bone of contention for me too. Last year,
I subscribed to the Cabot Market Letter (Dines) because
I didn't know any better. My last three newsletter have
been screaming "buy, buy, buy", "the bottom is in", blah, blah, blah. In fact the last letter was touting a new pick
JNIC. In the last week, this one went from 120+ to 60.
Made me laugh, not because so many got mucho burned but
because the pick was so horrible and their timing couldn't
have been worse! I have been ignoring their picks all year
and would have lost everything if I had been trying to make
money on the long side from their picks. Never once this whole year did they ever say to take your money off the table, that the market is very sick... Every month, only
buy, buy, buy....the bottom is in. I think they don't even
know what a bear market is! I've been tossing the renewal notices in the circular file where they belong. To be honest,
without the least bit of braggato, I can say they should be
paying me for my advice. At least I have learned that stocks
really, truly go down. At least I know how to short a stock
about to eat dirt. All they know is buy, buy, buy. Now I can
say to them: bye, bye, bye! And good riddance.
I have learned more about trading on these S.I. threads in a few months than I could have learned from those particular bozos in a lifetime. Anyone can learn what those losers know
in a minute; buy, buy, buy....lose, lose, lose. No wonder they advertise so heavily in the financial papers...with a
single-minded strategy like that....how are you going to hang
on to customers!
Sept 21, 2000 "NOT TO WORRY! WE'RE STILL IN A BULL MARKET"
(does that mean they market BULL?)
Oct. 26, 2000 "WE RECOMMEND BUYING"
Terrible! Irresponsible! In my mind, Criminal as well.
I completely agree with you on this, Dennis. It makes me sad
investors have to pick their way across minefields like this.
Investing is not for the weak, IMO.
Regards,
Eichler |
