Right Yogi! LOL! Not only that, but in spite of that rather insipid "footnote" from HFD, a lot of hoopla is made out of Hulbert's Brinker-ratings, to which I have this to say:
It seems like a lot of people do a lot of "excusing the QQQ call" that Brinker made--especially Mark Hulbert. But it goes even further than that.
What most people do not know, and Hulbert does not account for in his "footnote," is that Brinker made THREE different "countertrend rally" predictions for the "Nasdaq 100 (QQQ).
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The first one was the "Act Immediately" Bulletin in October 2000.
The second one was as of January 2, 2001: January 2001 Marketimer, Bob Brinker said, "We continue to emphasize the guidelines we have recommended with regard to the exposure in the Nasdaq 100 Index for the countertrend rally phase we expect.......we are expecting potential gains for the Nasdaq 100 Index of up to 50% or more as measured from the January 2 closing low....." (January 1, 2001, QQQQ closed at $64.30)
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The third one was as of March 2001: March 7, 2001, Marketimer begins with Bob Brinker admitting that "we were wrong in our earlier expectations that a countertrend rally would develop late last year...." Then he admits that even his call for a new bear market rally beginning on January 2 "was unable to sustain upward progress in February."
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In spite of these admissions of being "wrong," in the March 2001 issue of Marketimer, Bob Brinker again made the following recommendation to subscribers: "In our view, the probabilities favor a three to six month bear market rally phase beginning shortly. Such a rally has the potential to carry the Nasdaq composite Index above the 3000 level by spring or summer as measured from the closing lows." (March 1, 2001, QQQQ closed at $39.15)"
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Brinker offered his promised "followup guidance" on these trades for a total of 30 months, then he buried the whole thing beneath a new Nasdaq 100 buy-price in the mid-$20 range in March 2003.
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If that isn't a scam, what is it?
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