You know more than Birinyi, right? Go ahead. Educate us. Your view is based on whatever the conventional wisdom is on CNBC and on the internet?
Unfortunately, his analysis places a lot of weight on net volume stats and they can absolutely KILL you! For example, in the "correction" of 1998 he kept saying how the Blue Chips ( various Dow stocks ) were going down on no institutional block volume, and that they were BUYS because of this. Yet, many of these Blue Chip names went down for 4-6 weeks on the order of 15-20% and his analysis ( for me at least ) went out the window. Buyer beware.
And for what it's worth, my VIEW is based on being a subscriber to his service ( back in 1998 ) and being on the phone with he and his office associates on several occasions.
So your only response to Birinyi's statement is a useless, ad hominem "he's totally ridiculous." Wow. Big round of applause for that empty, unproved observation.
I watch him on FOX, been listening to his opinions for about 2 years now, he has had some good calls, however no one on fox seems to agree with him, I have seen him on there a few times in the past weeks and everyone laughs and makes fun of his opinions, he is the only one that is telling it how it is....
If you cannot deduce the BIG difference between 2002 and now, you don't deserve to make any money... be lucky if you don't lose your ass. I say he's "ridiculous", because it's SOOOO obvious and blatant that all but the ET dolts can figure it out. OK.. I'll give you a hint.. has to do with the housing market and credit... got it now?
I've never used his service and I don't trade off of what other people say. That is good first person info from you, though. Thank you. I've seen him make good observations in interviews and I check his blog about once a week (along with a bunch of others). My point is that I'm more interested in what he thinks than I am in some clown on a chat board who couldn't find his ass with both hands and a map.
You're FULL OF SHIT! I didn't say, "he's ridiculous", just that his call is ridiculous. Take a pill.... Jesus Christ...
I seem to remember reading somewhere that he invented some way to pull block trades out of the tape for a newsletter back in the day. That was back when institutions were "investing", before hedge funds and quants took over. Now the blocks go flying one way today and another the tomorrow.