chartwatch, page-33

Hi CW,

I really did not call you a liar, it's just that I am sick of people claiming that charting works with no verification.
Larry Edelson is a good example, in every newsletter he tells you how accurate he has been when he gets it right, but you get "well the circumstances in Greece may have had an effect" when he is wrong. I am sure you have all seen Steve Sjuggerud quoted around, he is one of S&A Resource Report and Porter Stansberry of Daily Reckoning's supposed gurus.

Well about 5 years ago "Steve Sjuggerud" had this very well advertised system of Green , Yellow, Red of when to buy stocks. He explained how the system had never failed and showed all the charts of their previous "successes" and guaranteed, that when their charts showed Red, you would be an idiot to not sell immediately.

I took their certain advice and sold more than half of what I had. From that point, for the next two years, there was the biggest bull market in history.

Do you think they ever said "woops, well we got that wrong", or "sorry about that, this is why we got it so wrong". No, they have simply never mentioned it again. I have never seen the "Green , Yellow, Red" system mentioned again, and they still write what an investment genius "Steve Sjuggerud" is.

I too wish you very well, and meant no disrespect. At present I have 15 winners out of 20 stocks in my Aus eTrade account. I have posted these, but every time the post gets moderated and the proof removed. I am not sure why.

Is your record that good? If so, I would suggest it is because of your skill in picking good stocks and not charts. I am willing to be proven wrong at any time.

Cheers, IE