Discussion in 'Wall St. News' started by marketsurfer, Jun 7, 2007.
Do you think that a 4% move has any real significant meaning in the bigger picture?
MS might be right. If I were going to put some faith in any big sell signal I'd wait until the Dines Gread/Fear Oscillator enters the Sell Zone.
I bet some clients are mad pissed. And maybe this signal will turn out to be a good call but I can see many clients who did sell jumping back on board if they have been paying attention to the euphoric orgy (CNBC) and the new all-time highs.
No way in hell can this ever turn out to be a good call.
The DOW was roughly 13300 when they issued the "triple sell". DOW printed 14000+ today.
That's a HUUUUUUGE move their clients missed....especially given that it was done in less than six weeks!!!
If the DOW hits 14500, will they issue a "quadruple sell"?
It could be - you never know.
But the fact that they made that call shocked me like WHOA. The question is why? They are playing a game of relative performance. When you go out on a limb against the crowd the risk to reward never really balances out. If they are right the praise doesn't come close to the shit they take if they are wrong.
It is funny this came up today as I was at Whole Foods yesterday and for some reason thought about Morgan's call and planned to reference the date/price of it today.
Definitely as stupid a move as any big company could make.
How could it be? The markets are up 5%+ since their sell call six weeks ago.
In fact, at no point did the markets ever close lower than when the call was made.
anything can happen...
We could be down 5% tomorrow...who really knows.
Maybe they came to this board and used MichaelScott as their market forecaster. You can be sure that was the case with the Bear Stearns fiasco. I guess I haven't given Michael enough credit.
Maybe that triple sell signal wasn't so bad after all...
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