Hi James, I agree, Wayne's call on the market top was extremely timely. Thank you Wayne.
IMO, the most undervalued thread on SI last year:
Subject 33047
The very creation of this thread was Wayne's way of saying "This is not normal, it won't last long, be thankful and take your money out while you still have it."
You can see from my posts, I didn't think the phenomenon would last past Valentine's day. And by March, sheeesh, I had given up calling the top. So I was not prepared for the swift drop in the NASDAQ in late March. I was caught completely off guard.
But in April after the initial collapse, I knew the rules of economic gravity had been restored and I posted these:
Message 13442569
Message 13476375
Do I get any credit for being just about the first guy to mention the inevitibility of the "R" word ? lololol
My one miscalculation was believing that the public would be smart enough to catch on and capitulate before the end of the year. I was really convinced that we would be in the low volume era by now .... and I meant on the NASDAQ not just the OTCBB.
I'm glad you sold out and didn't get back in, James. I've definitely given back some of my gains trying to catch this falling knife bottom. And going long on some stocks last year that I thought had bottomed .... but hadn't. Rats.
Enjoy the rally. Could last the whole week, if no companies drop any bombs. But then again the markets rose with the BTB ratio at .77 !! But once the end-of-quarter fund jockeying ends, we'll get to see how stocks react to 1st quarter earnings reports.
Chris |
