Jerry Favors charges 275$ a makes you an expert on how to call the market. If 275 $ could change the destiny of 'man' quite of a few man would be millionaire's. Armed with this 'night to night' seminar these 'dime a dozen' experts will than descend upon SI and write about market direction evolved on famous 'wave theory' on which future market direction is pinned to the hour and second. They say that wave theory finds it roots to 5000 year BC history of DOW. These markets that I learnt only 'slightly' by losing hundreds y of thousands of $, spent more than 20 years of my life and spent thousands of hours on direct linkage with my associates in Chicago and NY can only be learnt by being in the market. One needs to learn markets through markets.
The last time they thought we would see a big sell was on Friday 2nd April. Now this Friday these guys were long short at 7.00, than a short at 9.00, than a long at 11.00 and again short at 12.00, it is a joke, I call spade a spade and think that it will help them more than anyone else. Got a message to go long the big one never came. So what happened to the puts?
Although DOW never existed, the actions are interpreted the way Mr. Favors likes to do. The pork belly trade charts and trades of bushels in times of Christ probably makes the basis of this highly suspect model. Ensuing from all this non-sense is a strong wave theory that can trace the second and moment when market will reverse. It is based on diction that makes your presentation so complex that it may sound genuine.
Half of these guys do not understand what they get form this seminar and anyway it is immoral to assume a responsibility of calling a market in opposite direction of general trend if you know it deep down in your heart it is just not their for taking. It is like finding a pin in a haystack sometime when they get it right they will climb all over you, the other 9 times they are wrong they will disappear to reappear when one day market is down huge. Once they all were in unison trying to call a market bottom they were caught short at the lowest point in the market, they could not even imagine coming out of the whole mess until 1720 on composite was taken out.
If your account expands @ rate of minimum of 50% by this method of calling reversals annually. I think it is your duty to share your trades with the market. In my opinion 50% qualification is the first hurdle, that is first litmus test for one's conscience, are you getting the results for your own account trading on this model, if yes! Get them audited over a period of three years and than based on deductions tell others what to do. To sit out a market trending higher is strange and to see it moving from 4000 to 10000 and still maintaining a bearish bias needs a big heart that is alright with me. However to keep investors out of this market based on flimsy theory is something one needs to resist.
That in real world does not happen if interest rates are cut and global economy expands at rate of 5% annually the ultimate reflection of non-inflationary growth on the stock market capitalization is totally ignored by this theory. It had last time to be on Friday, when the market went up they simply went long at 1355, at 1356 this small Jerry Favors proclaimed I am sitting on 46% profit. |
