Yes, crryder. But think about this, and I do have proof on these:
1. News: Majority of the wews are from the WSJ(of Dow Jones & Co. Ticket:DJ), CNNfn or CNBC. These are the main insiders. Alot of the times, the news are hiden before it is hyped, for the purpose of insiders to get it early to make a profit. ie. the DEC and INTC lawsuit was around since May. What about CNN's live coverage of NYSE on Monday (the day of the 554 crash) when the market was down only 200 points!!! And scare the moms and pops sitting at home watching TV to sell. I use IBD because I feel its more neutral than WSJ, and I never buy into Wall Street analyst's upgrade/downgrade game.
2. What about the currency crisis? Old news. But this old news was hyped up in a craze lately. It was predictatable that when the Thai blat and other Asian currency was getting weak, other main currencies and the yen, HK dollar and the Taiwan currency will be affected. And hey, that actually helps US companies to buy cheaper goods from overseas. Then two days later, nobody talks about the currencies anymore?!?! Did the currency stablized so soon?
3. Upgrade/downgrade: Most of the time when a company do a upgrade or downgrade and give a price target, the target never meets. What about the "irriterate" game. Its kinda like "I have a sale of ABC stock since last month, but there are some inventory left. I am going to do more promotion to sell my old stock."
I did not intend to turn people off. I notice that some old fans of JBIL thread have left lately and I do feel sorry of not getting their input. However, Ney's ideas are too new to them and maybe too hard to swallow at once. Rob had taken a bit of them info at the beginning, but did not buy it all. Not until I called the downdraft (when the Dow was 7800) to 7000 did he agreed with me fully.
The specialist may only have a little bloc for himself, but his banker buddies may have more cash too profit from it. Who knows if he gets more from the deal than a dinner or a pad in the back.
Ney did say that the downdraft is over yesterday, and is shown by today's slight volume and slight move up. This way, the specialists wont get too many buyers until the prices are much higher later (for a bigger profit) I bought FDC today. In the last week, it was downgraded by 6! houses, and this picks has been recommended by Ney for 2 months. I feel like today's price is the bottom so I bought. Look at the stock's block trade (only available in some quote services), there were three block trade by Merrill Lynch, Lehman Bro., and Goldman Sachs in the last TWO days. Which means specialist are selling inventory to the brokerages houses' account.
I love playing this game, which tests people's minds. Good luck to you. |
