What I heard was Barfaroma asked Buffett what it would take to buy stocks today. His response: "Lower prices." If she had any brains, she would have followed up with: "If you didn't own BRK.A, would you buy it at this price level?"
There are two lessons in life one should learn. You do not bet against little old ladies at the craps table and you do not fade Warren Buffet.
Be SPECIFIC babak, about your market drop theory. No one respects someone saying "it will drop", and who continues to say it as the market rallies. Tell us WHEN it will drop. Now there's a novel idea.
Did you mean for this to be in the Babak's Journal thread? He said it would be at least 1 month before he would claim defeat or victory. Notice how he didn't claim victory after the market dropped initially. You should give him the courtesy of not declaring his defeat til the deadline is up (which would be May 25th or later). I don't think it is May 25th yet. Note that you specified May 23rd as your deadline date. I could declare you to be "WRONG" this instant since the Dow has not yet reached 9000. But that would be idiotic since the deadline has not arrived. It will be interesting to see where the market is in late May!
if he said a month, i'll give it a month. But his month started a d=few weeks ago. anyway, We'll see where the market is by May 23rd. Fair? --- btw, i think the market will drop, but not in may.
If you just lose your reputation it will be ok Well well well without any extensive analysis than by looking at my monthly chart I would first wait for the break and before any break it should consolidate and after consolidating perhaps he would be willing to follow the descent path that is showing . <IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=249968>
Jesse, we are all eager to see your extensive analysis of the Dow to explain your claim for a 9000 target by the 23rd. Grace us hoi polloi with greatness of your mind, with charts, text, etc. Don't be bashful in citing sources.