He just said Gold was going down this was last week. And most importantly has been doubting the markets 35% gain from its inception. Anyone else agree?
Bob Brinker is the worst market timer. Ironically, his newsletter is titled "Market Timer". He called the near top back in the 2000 bear market, and called the bottom real well. But, where he is discredited is he failed to give the sell signal to his subscribers on this current bear market. And assuming we have seen the bottom, he failed to give the buy signal. Bob Brinker is worse than Mark Hulbert because Bob Brinker is a lot more well known, hence his impact is a lot greater.
Brinker seems to give his great calls either after the fact or only to his paying subscribers, I'm not sure which.. he called the bottom for the NASD after the internet bubble way, way, years even, ahead of time. He said he uses a proprietary method for that but I found that you could put up a 200 week sma and do similar things...
Im just wondering if all those bulls are still bullish, every analyst came out over the last few weeks calling this a "V" shaped recovery and a new bull market, I feel sorry for any bull that thinks were going to experience any "V" shaped recovery. It will be a big long "L" recovery. Anyone willing to buy this market better wait for 7's on the DOW and s&p because thats where were headed. As I said about 2 weeks ago, the markets are going for at least a 10-15% correction.
The charts I've seen aren't L-shaped. So far, they're V-shaped. One guy, says this economy is W-shaped. I'll agree with him.
Hulbert is on MarketWatch and NYTimes making the most asinine calls. I can't believe noone realizes how bad he actually is. He is snake oil the whole way and just laughs.
The guy has been calling correction on weekly basis... http://www.marketwatch.com/story/is-the-stock-market-topping-out-2010-03-26?reflink=MW_news_stmp http://www.marketwatch.com/story/a-market-correction-could-be-coming-2010-04-09