I remember it like yesterday, when rubberbird aka thorn aka jamestock posted the famous S&P had topped at 1240 and said he would leave if he was wrong. Being a man of his word, he decided to back out and not honor his agreement, ran his mouth a little too much and the mod took care of the rest.
And the million dollar question remains unanswered. How have you been calling them for years when your handle is only 7 months old ? Looks like it is multiple choice now. A. Thorn is not being truthful about calling tops for years since his handle is only 7 months old. B. Thorn previously failed at calling tops starting at 1140 under the alias of rubberbird and jamestock. Thorn's lack of response to this simple question speaks highly of itself.
I thought about this a bit and still wonder why would anyone call a top or a bottom with certainty. We deal in a world where every moment is unique, they might seem to be similar but they are not. If someone wants to call the top, why just not say, I think there is a higher probability of top at such and such level. No one knows the future, so picking these levels exactly is childish and/or arogant. redduke
Or maybe the predictable genius that's fueled market rallies for over a century...the stuff that psychs retail shorts into believing the market is 'overbought' and 'irrational' again and again and again. He'll be back and so will the predictions, but only when it's necessary.
I think if Pabst is one day and two points off, he should be allowed back with minimal harrasment. Considering, he'd still make a bunch of money, he might not give a shit anyway ... Typically life-lessons like this one cost each of us tons of our own money and pride. I think we owe a debt of gratitude to Pabst for allowing us to live through his on the cheap!
If Pabst returns anything he says won't even be worth a grain of salt. It's about doing what you say you will do. "Street Cred" as my "homies" might say. Pabst made the call with the parameters which he set himself, now he must reap the self-imposed penalty. EXILE! Now, why would he even make such a call other than to try to stroke his own ego? Now after having made the call, the wrong one at that, wouldn't you think it is such an ego blow that he won't return due to the fact that even he knows how stupid he was to even "go there". This whole message with its 40+ pages only begs the question, "What would possess a person to make such a call without any real rewards to reap other than grief?" The risk to reward ratio is not anywhere near a desirable level, so why? Well, in the end its all about attention. Now Pabst drew the attention (such as T.O. has, keeping with my earlier example) and has to deal with the negative repercussions. It has nothing to do with, as another poster stated "Schadenfreude", or "Misery loves company". Rather, it really makes me question whether or not Pabst is that sad of a trader that he needs the affirmation of the ET masses. Did he need "Virtual Affirmation" of his worth as a trader, or even worse, as a person? Its about an ego call and now as a member of ET I must live up to my end of the contractual obligations Pabst has imposed upon me by making sure Pabst is reminded not to bother posting again under that account since he is in EXILE. We as good "virtual citizens" of ET must work at upholding his erroneous call and put teeth into his self-proposed punishment. That's what this is about. Don't take inordinate amounts of risk without proper reward as motivation if you don't have to. Thank goodness Pabst isn't in charge of a multi-billion dollar hedge fund.
Actually, I think the term refers to deriving pleasure from someone else's misery or misfortune. There is a difference. As I pointed out on page 3 of this thread, I didn't see the value of Pabst's declaration. It ended there for me. However, interestingly enough, you seem to be deriving a fair amount of moral rectitude from this whole matter. Does that give you pleasure? Remember, the truth will set you free.
Hey bro. Long time no see me in these parts, eh? I only caught your thread the other day and had to laugh thinking that for, what, four years now you've been fighting the trend? Maybe you're good at it, I don't know, but I'm pretty sure it's given you a fair bit of grief. There's your mistake right there. If you'd been looking at the 584 and the 579 you'd have never gotten yourself into this jam. Still at multi-year highs though. The 2000 price probably had a lot of 'tech premium' built into it. Just index the top solid (dow-like) companies, and the SPX is probably at all time high right now too. So is plenty of other stuff; it's not just the big caps. Not that I'm trying to lecture you or anything. I mean, wtf it's just one trade. Who gives a bleep. But it does sound like you have a bit more riding on it than normal, eh? Good luck, but honestly, I reckon it's gonna blast through your stops.