Back on March 6th of '09 I was talking to an account executive who was trying to convince me that the markets were on an unstoppable downtrend. I told him that the S&P was making a bottom as we spoke. He laughed at me....
I continued to ask him questions to see if he was a broker I would want to deal with for long term, managed accounts. About a week later I sent him these charts that clearly show a shift in volume and a change in trend.
Needless to say, I didn't open an account with him. In fact I called the CEO of his firm and told her what happened. Naturally the management team was apologetic.
Don't believe me? Here's the word from the horse's mouth.
This is Dr. Martin Weiss Ph.D.
Quote: "America's Second Great Depression has arrived; and a great bear market is here...... No one can know in advance at what level the bottom will be. Nor can we know for sure when it will come."
There you have it. The "expert" with a lifetime of investing experience getting clients ready to go short right at the bottom. WOW!
So I continue to trade what I "see" not what I "think". Or what anybody else thinks.
Warning!
Futures Trading Disclaimer: Trading futures and options involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.
Futures Trading Disclaimer: Trading futures and options involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. Only risk capital should be used when trading futures or options. Investors could lose more than their initial investment. Past results are not necessarily indicative of future results. The risk of loss in trading can be substantial, carefully consider the inherent risks of such an investment in light of your financial condition.
2 comments:
Hi Angelo,
my name is Kevin Byrd. I've been following your trading posts, and many others, at the Daily Paul. You mentioned in the past the you would be interested in being a mentor to someone who would be interested in learning about trading sp e mini, I have traded futures for years but have gone nowhere with it. I believe I am that someone. If you are interested in mentoring me, you can reach me at: newdragonlives@hotmail.com
I look forward to hearing from you.
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