It's funny how all of the "younger" traders here on this thread can only come up with the "bad" calls by Barton, yet the older guys like myself, Riskarb, and Pabst are well aware of this guy's track record in Emerging Markets and Japan and have a lot of respect for him as a result. I think that the comments on this thread are truly "reflective" of why ET will never be anything more than a cut above a Yahoo Message Board. Too many newbies who have no respect for their elders because they would rather talk out of their ass than to actually do some research and understand just who they are cussing at! Back in 1981, I couldn't wait to get my hands on Robert Farrell's Weekly Market Commentary. He taught me so much about technical analysis, it wasn't even funny. And to see Barton defer to Robert Farrell just goes to show you how much respect Barton has for the man. It's just too bad that some of the "younger" guys here on ET have no respect or understanding of the markets, let alone "household" names in the business that have really done well. Chalk it up to lazyness I guess. http://www.smartmoney.com/pundits/index.cfm?story=biggs
You are wrong my friend about CNBC NOT putting such guys on like Prechter as the market goes down hard. Many people saw him on CNBC just this last Monday, and Prechter even joked that he is only asked to come on when the market is getting shredded, and usually within a day or two of a low! waggie945 Elite Member Registered: Sep 2002 Posts: 3627 05-10-04 10:19 PM Robert Prechter Appeared on CNBC today and that is enough to make a LOW in the equity-markets! I have 1073 for my S&P target.
Yes, I agree he's made some excellent calls; unfortunately, he won't underwrite my trading if I'm long and wrong. I thought his comments seemed desperate. But wtf, I went long at 108500.
I would like to see the exact stuff that Farrell told Biggs about market breadth. I´ve been watching the AD line and yes, I see the blip down for a MA applied to it. No, its isn´t the greatest one in 20 years (on the off chance he was referring to that). But here´s the thing about advancers-decliners right now. If you´re NOT removing the non- operating companies stocks out of the data you get major distortion based on the thousands of cef´s that are int rate sensative. As you know, they have crashed (look at any muni-fund). So, as another who said it, I would have appreciated actual TA (specific and detailed) rather than just pamblum (most oversold as it has been in 20 years).
Fleck has been on cnbc many times..... as I recall! of course I stopped watching it steadily about 4 years ago ever since maria chose jonathan over me! IcE
I hope you all read markets better than you read people. Compared to his usual sweating and stammering, Biggs was positively serene in his pronouncement. And why are we congratulating anyone here, no one made a call, if anything the comments indicated NOTHING was expected of the market. I made a rare post in a public chat that the 'heavy lifting' was very possibly in the offing. Just smelled that way. That was at 2:46. Anyhow, it's only one day, and the shorts were set up to be porked.
He is not a trader and he was not speaking to the bozos trading a $5,000 account and trying to scalp 10 cents on a $7 stock. I love the guys on ET who speak large volumes of technical gobbledegook. Sounds like Jimmy Rogers on his great insights in buying China but shorting the Tawain WokBo. What crap. Prechter used to be on Lou Dobbs all the time till they figured out he was just mumbo jumbo with frog legs, eye of newt and floating around on his "waves", LOL. And then there is my favorite, Arch Crawford, on his horoscope trading. There used to be another guy out of the midwest, Jerry something. Had some weird theories. And for Bears, what about David Tice. He did call TYCO right but no one would listen to him. SteveD
The thing about MOST technicians is that they are right 98% after the fact, and only 50% (if that) before the fact. That said, a really good technician is worth thier weight in euros. Very few of them exist, and even fewer for public consumption.
Biggs back on CNBC today, "This is the most overbought market I have seen in 24 hours" courtesy of Vulture on IRC today...