Morning Thread.
First of all. Thanks to Bert for the excellent article. Had not seen it.
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To everyone else reading this post, that article is one more reminder that VERY, very few came to that view at or even close to the recent top in the gold stocks.
You know threadsters? In my years in the wild and crazy biz:), that has always been the case. Very few exit near important tops OR enter near important bottoms more than 1/2 the time. And as we see so often on these web threads another few who are too jealous to contain themselves and too dim to illuminate a discussion with anything meaningful can only flame the few who CAN and DO consistently make the significant trend calls most of the time.<g> It ain' bragging. It's just a fact.
Many others gossip or disappear to lick their wounds. And then? There are a few (as I did when I was younger) who quietly observe and slowly learn from those few who know what they're doing.
There're no short cuts. No quick formulas. If there were, there'd be millions of Warren Buffets walking around.
NOBODY, even the most gifted independent pros I've known, is right more than 60-70% of the time, EXCEPT during relatively short <hot streaks>. Even my old mentor wasn't. And, trust me, that guy was a genius. He nailed important trend changes in his stocks about 2/3 of the time, consistently. In multi-month hot streaks? Maybe 80-90%. And I saw that ole bugger make almost 2 million $ in a little over one year! A mill was in ONE stock. Saw the brokerage statements.
Only a small %age of traders make money in the markets, MOST of the time. But those are the ones who do, gradually become wealthy, over time. AND because they know how to preserve capital once they've built it, they stay that way.
Have a good trading day everyone.
And all the best, Bert.
Iso |
