Bob Brinker made a famously bad call and "forget" to tell his followers that they should maintain a stop loss order at 5% loss or even 10% loss...consequently many people bought the Q's about 80 and got wiped out...Brinker shut up and never acknowledge his mistake- aparently his ego would not allow it...maybe- just maybe the market will touch his once imfamous call and allow anyone just holding on to get out even before another eventual pull back...Looking at this as another potential top, in a long list of potential tops....Friday, October 12, 2007
Bob Brinker made a famously bad call and "forget" to tell his followers that they should maintain a stop loss order at 5% loss or even 10% loss...consequently many people bought the Q's about 80 and got wiped out...Brinker shut up and never acknowledge his mistake- aparently his ego would not allow it...maybe- just maybe the market will touch his once imfamous call and allow anyone just holding on to get out even before another eventual pull back...Looking at this as another potential top, in a long list of potential tops....
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2 comments:
Actually Bob did say "I blew it" with the QQQQ call a few years ago.
Later, in March 2003 he successfully called a bottom in the market and became fully invested. The market is now up over 100% since then.
And this year in August he signaled a buying opportunity that has since returned handsomely.
Thanks for the article and chart.
Technically nobody got "wiped out" because they QQQQs were recommended in the mid $80's, fell to $19 and have recovered to $53.
You should find this article interesting: Effect of QQQ advice on Bob Brinker's reported results.
Who else do you follow for entertainment or otherwise?
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