Do you think that Kicking is announcing his candidacy for Moderator or is he about to have a bit of fun at Babak's expense ? He can't be serious...........................?????????
my 2 cents: babak calls for a top right here. forget that he's been calling one out since S&P 900 (that's over 5% of move against him, but whose counting). When the indices continue to move higher in the next few days, will we get a long overdue admission from babar that he's wrong?
No, this is not Jesse J.'s journal, this is Babak's. However, if Jesse J. would like to start his own journal (hey, what a novel idea) he is more than welcome. If, of course, he can stand the heat....
Jesse... you've made your point.. now shut up already.. you really are getting annoying.. Babak... I hope you are realizing how much good $ you could be making by going long over here..... Biotech's are smoking... homebuilders are hot... there are so many good looking chart patterns... The big $ has been made going long.. stocks are up %100+ in a matter of a few months... Even if we do top out here.. the big $ has already been made... Before calling a top and going short... you have to understand what indeed you are missing... --MIKE
Babak, Here.. is what I mean... While all the contrarians were doubting the rally from the start... stocks like GLW are up %500 from their Oct. bottom ... So lets say.. you went short back at 100.... and held until the OCT. low.. you would be up nearly %100 in about 2 years.. Going long off the Oct bottom would have made %500 in less than 6 months!! The point is... in the stock market... fortunes are really made by individual investors that "buy" stocks... The % always work in favor of going long... sure you can make good $ going short in a bear market.. but buying into this rally from the very start.. would have made an absolute killing % wise.. --MIKE
http://www.marketpit.com/S&P500.htm http://quotes.barchart.com/texpert.asp?sym=ESM03 http://quotes.barchart.com/texpert.asp?sym=NQM03 Not that it means anything, just what the rest of the world is looking at.
A month or two. That was Babak right at the start. Why would he now throw in the towel simply because the market's up 5% since then? Geez, if any of you need reminding of what a market can do in a month, I suggest you take a look at July or September '02 (as recent examples). Personally, I think Babak got out his gold stocks too early (a couple of weeks ago?), and I don't really think there was any reason for doing it apart from them being up 'too much'. (My words, not his). I don't like the sound of that. Still, maybe it's just me talking up my position, as I'm still long stuff like GOLD, RGLD, NEM. (I must admit though, I really nailed a great entry at that Mar 'bottom', so I'm being a lot more liberal with my exits.)
I couldn't care less if Babak is right or wrong here and now, he doesn't care either what you think. I am just interested in his reasoning and the data he collects. You can be bearish long/medium even short term and still make money in this market. Right now I think the shorts are getting washed out as evidenced by yesterday squeeze but if you look at the other tops we had since 2000, this kind of rally was really not uncommon .
Well, I was posting in support of Babak. It's only been slightly over a month since his initial post, so I was saying that things are hardly resolved just yet. He did, if you recall, ask us to make him eat crow, if we could, so I'm sure he's at least slightly interested in people's feedback.