Best Blogs

Discussion in 'Educational Resources' started by aarbub, Jul 6, 2010.

  1. aarbub


    Curious what evrybody reads on a daily basis

    I read:

    -Bill Fleckenstien on MSN
    -Harris Kupperman (

    Are there any good blogs/sites im missing?
  2. Id stay away from those bearish echo chambers. There about as useful as the permabull sites.

    They are ALL emotionally tied to their trades. They all have an agenda. Id just read the straight, dry newswires like Ran squawk.

    Here's a helpful lithmus test. If the market is up 20 Dow points, your blog should not be whining about PPT manipulation.
  3. What is "Ran squawk"?
  4. Nanook


  5. Nanook


  6. **All blogs** are completely and utterly useless and let me go into this categorically.:

    #1- You do not know who is behind them. They could be a young guy in high school or an old guy in a wheelchair. They could be convicts or saints. You dont know who the authors or commenters are from a hole in the wall.

    There is oftentimes talk about "credibility" and I have to laugh. There are people out there that would actually trust strangers who they only know from some sentences typed on the internet??? People who believe there is "credibility" on the internet deserve to lose their cash.

    #2- Most bloggers oftentimes have an angle. They want to make money eventually from the blog in some way, shape or form. Some of them say they manage other people's money in order to encourage people to send them money, others do it through ads and some others eventually want to put up a subscription site. In any event, the blogger oftentimes has an angle to enrich themselves, but not their readers. Therefore bad calls or mistakes they made are oftentimes downplayed or sometimes those posts are simply erased. One common tactic is to place blame on politicians in an attempt to steer blame away from themselves for a bad call. In any event, most of these bloggers act like Wall Street is out to get everyone and they are there to get back at them.

    On the other hand, good calls the bloggers make are oftentimes up-played. You oftentimes see the blogger make references back to their good calls with no mention of the 10 other bad calls they made. Sometimes the bloggers may even have a "tag cloud" referencing back to the good calls they made while the bad calls dont get any tags.

    #3- Double-talk- The art of double talk is alive and well on financial blogs. Oftentimes bloggers will talk in such a way that if the market goes either way then there is some truth to what they said earlier. They will say something like "The market is recovering, but its a weak recovery." So if the market goes higher, then they come back and say they called it, but if it goes lower they say how they said it was a weak recovery and probably wont hold. When this is pointed out to the blogger, they oftentimes come back saying that they worded that way for liability reasons as they do not want anyone losing money.

    #4- The comments section is usually where the real crooks hang out. Usually, the commenters seem like good people and they want to go beyond the comments section to talk on the phone or even meet in real life. Their aim is usually to find a way to wiggle someone's cash out of their hands. What they look to find is the 65+ older set with a huge nestegg.

    I talked about the off-Wall Street fund managers once and these are people who informally manage other people's money. For example, my father, God rest his soul, gave money to a gut to manage. That guy never worked on Wall Street but just had a reputation in the community for getting things right. (my father lost all the cash that was given to that man BTW). I know of a woman nurse who lost $250k with some odd character who somehow convinced her that he could trade. That character never worked at any firms or funds. Then there was this guy I know who worked in a non-management position at an insurance company and he lost about $25k with the woman he trusted to trade the cash.

    You see, people have been trying to get other people's money to trade since trading began over a 100 years or so back. Now these off-Wall Street "traders" are back, but they have the internet this time. It used to be through word of mouth and cold calling, but now they can leverage the internet to get your money to trade. They form a relationship with you through their blog and you feel like you can trust them because of their kind supporting words...

    #5- Good traders, funds and firms would not give away how they do business just how Coke isnt going to give you their secret formula. A good trader will never come out publicly and tell you how they do their business. So if you are reading a strategy on a blog then chances are it will not work. No one is going to publish a strategy that is working for them.

    #6- Blogs oftentimes push technical analysis and theories such as the Elliott Wave. It all looks good on paper, but the truth is that every technical pattern has a probability behind it. Usually that probability gives you only slightly better odds then the coin flip. However, technical analysis is most always promulgated as the be all and end all. There is no blog out there that discloses these are just probability studies. When the market goes against their technical theory, who is blamed? It must be Obama or Bernanke who is manipulating the market and you are to blame the politicians for the pattern not working.

    So your best bet is to study how real traders did it in the popular trading books. There are a few journalists (one particular one comes to mind who is on this board) that have interviewed and researched many of the better traders out there. I think studying them is probably your best bet.

    However, you should not read any of these blogs. You should especially never trust your money with any of the bloggers without complete due diligence conducted by an independent party. Even good due diligence, however, can still not be good enough. I bet you would be donating your money to them if you wired them some to play with. I have not seen any blog yet where you can consistently make profits off of and the bloggers have too many tricks up their sleaves.

    Its not good to be super paranoid and suspect of the world from day to day, but when it comes to the internet then thats a different story. Be afraid, be very afraid...
  7. I wouldn't compare tech analysis to elliot wave.

    Chart patterns have proven statistical win rates behind them. I have seen patterns like this work very well.

    In contrast--
    Elliot wave is an attempt to use one pattern, and apply it to everything.

    Its like going into every chart, every day, and only looking for a "pennant pattern". While your looking for that one pattern, youre missing another 50 potential patterns in front of you.
  8. lol wth? we sell of 10% in two weeks, then he writes this

    Dave's Daily


    July 06, 2010

    The market is broken. It’s driven by machines and these last minute trades (whether buying or selling) is making a mockery of things.

    First, there was little news to account for any rally Tuesday. In fact, the only news was negative from ISM Services which came in below expectations and down from previous readings—another indication of an economic slowdown.

    let be realists NDX had like 10-11 down days in a row a record, and having an up day is stupid? no, having another down day would be even stupider
  9. panamaorange, all patterns are one pattern... two lines only tradable is the two lines converging or parallel. but all the different names given to patterns is stupid and obfuscating.
    #10     Jul 7, 2010