Friday, July 16, 2010

Flinging Poo

Now that I've whined about people flinging cyber poo at me for being bearish, a friend confided he wanted to tell a few blow-hards where to get off. Funny how the tables turn so quickly in the analysis biz.

Here's the deal. I did my analysis and though painful I stuck with it. One day does not make a bear market but I cannot be swayed by the day-to-day unless it knocks my analysis on its tush. The stock market will be lower later this year than it is now, in my view.

Take a look at gold, too. Short-term breakdown. I am still a long-term bull.

Have a good weekend. I am visiting my daughter at camp. And don't worry stalkers, my house is fully staffed with relatives while I am gone. I am hoping the teenagers keep the party to under 100 kids.

4 comments:

retire55 said...

Michael, I'm in your camp (so to speak). May the trend always be your friend. Jon Torrens

William said...

Mike,

I think that's what separates the message board hot shots that come and go and the people in that stay in the business for more than one cycle. The discipline to stick with a methodology regardless of how popular it makes you.

I always enjoy reading your stuff Mike, I'm on barrons.com Mondays and Wednesday at 4pm hitting refresh lol. Keep up the good work.

-Will

JS71 said...

I agree with your take on the market for what it is worth.

Most of your readers (those who are indiv. investors) are still probably counseled to buy and hold, especially since the rally off 3/09.

Most of your critics probably are not positioned for anything other than losses if the mkt is lower from here in 6 months.

So far buying stocks leading up to April when everything was coming up roses hasn't worked out too well.

Quick Takes Pro said...

thanks for a the nice thoughts, everyone.

And that deleted comment was not criticism. I do not delete anything just because it is not favorable. It was yet another post in what appears to be Chinese and linking to a porn site.

The market is exciting enough, thank you.