Take a look at what Jim Cramer said about Bear Stearns (NYSE_BSC). Bear Stearns was trading over $60 dollars a share at the time!
Boy, we love the internet. As it keeps a record of what who said what and when they said it. Cramer is a great entertainer, but he was 100% wrong on Bear Stearns and a great many other stock moves that have cost investors billions!
When you trade with a "game plan" you win. When you listen to the talking heads you lose, as they never tell you when to get out of a bad trade!
Take a look at this video that we did live on Bear Stearns and then decide who you would rather listen to, MarketClub or Cramer.
We have discussed Mr. Cramer before on this blog. You can see his track record here.
What a laugh! "NO, NO, NO!!! Thats just being silly!"
Bwah-hah-haw-haw!!! lmao!
Mr Cramer is not interested in helping other's; only himself. But this should not come as a surprise. His actions sometimes remind me of Renee Rifkin
Hi Adam, I have been following your lessons/bogs market analysis for some time now and have been very impressed. Just as I have watched several of your earlier analysis of GOOG and AAPL & lastly of Bear Stearns several thoughts/questions come to mind and if you can help me understand the following:
1) From what I have seen of the all the analysis whether provided by you Brad or Lindsay, for the most part trading triangle have very high success rate provided one picks the trades from a list of stocks rated either 100 (for long) and -100 (for shorts). In your actual analysis I see lots of signals being generated on both sides long and short. So, obviously you would be selective in picking the signals to have a high success rate. How do you narrow the signals to the winning signals? Or do you say that every signal is a valid signal and you just take a shot at it? What % of signals is success?
Every signal does not mean buy/sell. You must remember that our suggested technique is to use the triangles on a long time frame and triangles on a short time frame. The triangles on a long time frame suggest overall trend and the triangles on the short time frame suggest entry and exit points. You are taking position directions that correspond in the direction of the triangles on longer time frames. Also you must hold these signals against the "Chart Analysis Score." How strong is the trend? Is this market even moving? You need to use your intuition as a trader in conjunction with the tools of MarketClub.
2) I understand the typical stop loss is 8 to 10% what would you recommend? This is one area where I have a problem.
We do not suggest specific stop techniques. However, we have provided members with literature from various trading professionals and well as videos. Please see the link below to find all the information on stops we have provided: http://club.ino.com/trading/?s=stops
3) Does the triangle signals work equally well with equities as well as commodities?
The triangles work well with any market that is in a trend. The triangles will always be issued regardless of how strong a market is trend. However, when a market moves in a sideways motion the triangles are many times mis-triggered (they frequently hit 3 day high/lows as well as other weighted criteria). The most successful triangles are issued when there is a defined trend in equities, futures or forex markets.
4) If I were to play options with these signals how well would that work? Do you know of any members using the signals to play options?
We have a lot of member that use MarketClub for their options trading. Although we do not suggest specific techniques, options customers that I have talked to say that their most valuable tools are the daily triangles as well as the Chart Analysis Score. Someone has posed a question in our help section asking for members to suggest various ways to use MarketClub for options traders. I would suggest checking this out at : http://club.ino.com/help/faq/open.html
5) I have a good idea of how the application works since I have been following all of your bogs and reading up on the mechanics of picking a trade but what do you recommend to get the best use of this application during the trial period?
Incorporate our tools into your current trading plan. How can using our tools make researching easier for you? Paper trade our signals with the technical indicators that you are familiar with. Get comfortable with navigation.
SUPER IMPORTANT: Please watch Adam's video tutorial - http://club.ino.com/help/faq/index.html
Visit Our Help Section - http://club.ino.com/help/faq/index.html
want to thank you and your staff for providing all the educational information that you folk post regularly. It is tremendous education for me. I am addicted to your videos. Thank you, Pravin
Your thanks are greatly appreciated. Wishing you all the best!
Lindsay