What is zanger's holding period?..Did he ever say that he gets his trading style from Livermore?... Before Zanger, who was the top dog?
I think when he started out his holding period was 2-5 days. Later on when he became a multi-millionaire he started holding several weeks and recently I think he's morphed into a position trader even though he said a couple weeks ago that he was completely in cash.... so who knows.
top dog in trading i think to read from the context, i.e. a name a lot of people recognize, who is in top 20 list of traders monthly every year, etc etc
Ooops! Guess I didn't remember the exact date. It was July 5, 2001 and EMC, which had been THE best stock on the NYSE in the 90's, went from a close of 30.03 on July 5 to a close of 21.60 the following day. Less than a year before it had been trading as high as 104.94. The Bubble.
I think it is misleading to concentrate on Livermore as most, if not all, of what he did is not allowed today or just down right illegal. Zanger uses O'Neill as a reference in some interviews I have seen. O'Neill is probably one of the great traders/investors of the last 50 years. He just does not have much publicity about that part of his career. Focuses his energy on IBD and Daily Graphs. His basic book explains WHY and HOW stock go up.....increasing revenue and increasing profits....very fundamental components that most "traders" choose not to examine. There are too busy seeking "holy grail", "system" etc etc. You let GOOG have two quarters of profit loss and declining revenue and everybody talk about "whatever happened to GOOG?? Great Companies are not necessarily great stocks.... XOM, GE and WMT are great companies.....we basically can't live without them, but not such great stocks. IMHO, SteveD
I don't and I think the AIQ-Zanger connection is just a great marketing scheme for both of them. He even preaches simplicity himself....
well said Steve, people that follow Zanger know that he makes reference to revenue and profit growth quite a bit.