Good point Joe!
I remember him bashing "recession Casandra's" on the radio when the market was at 1400 and he was proud of buying. Good thing Honeybee kept a record of the call
From 5/31/08: Cassandra Bashing
STOCK MARKET.... Bob Brinker said: “The stock market had a good month in the month of May, finishing at 1400.38 in the S&P 500 Index……….a gain of about 1.48%.........and for the second consecutive month the market showed gains. The Dow finished the month at 12,638, that was up 1.3% for the week……..and the Nasdaq Composite had a big week – up 3.2% to close at 2522.”
RECESSION CASSANDRAS.... Brinker said: “What we have right in here now is evidence that the Cassandras, who earlier this year, were telling us we were in recession – right now they’ve basically – well I’ll be kind, basically, they look like fools right now. Because all that they’ve accomplished with their talk about recession…………all that they have to show for their efforts is that they scared the people who listened to them out of the stock market this past winter……….”
CORRECTION LOW AND TESTS.... Brinker said: “……..And probably a lot of those people got scared out near the correction lows. The initial correction low in January, which was successfully tested in mid-March, before the market reversed and resumed its uptrend. And basically, if you were to total up all of the accomplishments of the Cassandras, that would be it – that they scared people out of the market during a stock market correction in the first quarter………..Because they have been unable to present any evidence of a recession."
STOCK MARKET BEARS.... Brinker said: “So what we have here basically, is an example of false prophets and it’s sad. And the reason it’s sad is the damage done. Think of the people that are looking today at the market, S&P at 1400 and they’ve been scared out of the market in the first quarter by these bears………It’s just amazing and yet these people are out there, and these people are not happy, I’m sure, to find themselves out of a rising market since March. To find themselves looking for ever lower prices when in fact we’ve had the opposite.
He loves to talk about the market after a rally after any of his numerous, fully invested buy signals. Probably sells a lot of newsletters. When the market is down, maybe he sells newsletters to people thinking he has a sell....
How many newsletters would he sell if he called it "Buy And Hold Since 1565 Timer?" |
