Sunday, September 14, 2008

A Not Suprising, To Me, Major Selloff Hits The Markets The Day After I Said A Down 3% Fall Was Probably Around The Corner; Cramer Keeps Buying A Broke

September 10, 2008

Today shocked me about as much as the sun coming up this morning did. This seemed like a perfect reason to bid the market up–and then put out my shorts–so that the usual trend of the overall trend could return. That would be Mr. Downtrend. He has been around since November and even though the downtrend took a semi-time out during the January to August period it is clear stocks are moving lower on every index now.

I have made mention that we have been in a downtrending market since November and made money in shorts from November to January. Since January not much money has been made till August. But recently we have started a downtrend on all the indexes with volume picking up. This has given us a lot of short candidates to mess with and most of them are working. As long as the market continues to selloff on strong volume and rise on lower volume–actually the market can selloff on lower volume so it really doesn’t matter.

The bottom line is that there is no way anyone should be buying stocks and if there is any contributor on another other website recommending buying stocks that are trending lower with the primary trend down with the stock below the 50 DMA and the 50 DMA is below the 200 DMA, you should immediately discontinue reading this contributor that is recommending this stock that is in such a downtrend. And if these contributors are telling you to not cut your losses until you lose 50%, you need to move on to another stock market commentator. These guys will kill you and will make sure you have nothing left in your account by the time the next real bull starts.

So don’t believe the crap you read in the Wall Street Journal, on, or watch on CNBC. These people have a different paid agenda to drum up business for their market makers to sell into. They tell you, you should do this or that. Then they go and sell into the retail crowd that are buying the BS that they have just drummed up. They sold on the way up. But to get rid of the rest they have to sell on the way down while the market is falling apart. The only way to provide even a little bid is to trick the pubic into placing bids for stocks that they are dumping to you.

It is a big mind game. Do you want to know how to not follow the wrong LIARS on CNBC and the Wall Street Journal? Start by watching my free small size YouTube market wrap videos. Then use those video market wrap ups combined with the William J. O’Neil’s fine Investors Business Dialy “The Big Picture” and their own “market wrap” video and I believe you will be a lot farther along your way to success than you ever will be subscribing to the Wall Street Journal or Both of these publications have fallen from respectible sources of information to a big public joke. Look at the price of both parent companies that run both.

To learn how to look at the market the right way and make the big money on the downtrends and the uptrends without falling for the same BS from CNC and the WSJ, start by watching the video below and procede over to IBD to watch the videos there.

Subscribers get access to many videos that look at many different uptrends and dowtrends in the market along with past big winners and day by day analysis of the entire gain. I don’t know it is either me with a bunch of winning stocks in bull and bear markets and a proven track record since 1999 or the dying Cramer with an amazing -18% return this YTD. I think I know which service I would be picking.

Free small size YouTube Version (7 minutes):

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