re: NICKOO - US futures heading down
"To predict short term direction in the market is close to an impossibility."
Difficult yes, but isn't that what trading is all about?
"Do you know of any billionaires that are traders?? "
Not personally, but I also don't know any billionaires that are economists either.
"So, for you to bash me based on a short term guess (i've always publically stated that short term predictions of price movement are SPECULATION) is not very fair."
The intent was not to bash you. I believe that you make statements that are show little flexibilty in potential outcomes, yet get it wrong as often as the rest of us. Although if we make the statement broad sweeping enough we can always claim a degree of correctness.
"BTW, i commented the other day thet we've probably completed more than 50% of the downside. That doesn't sound like a preditcion of a rise, does it???"
No it doesn't. It was more the statement that it wasn't a time to short. Stated very authoritively from memory. The market then fell over. Just amused me with someone as bearish as yourself that you became cautious in your outlook and got it wrong. But of course the trend is down and this was going to happen.
"Re your comments on my age. I have mentioned that previously on HC."
Didn't see it but assume I am near the mark.
"Re your comments about where i've made my money- capital growth."
What did you use to purchase the capital?
"I've never borowed a dollar in my life (beside my HECS), and thus can hardly be classed as one of the greedy individuals i described in my earlier post."
Time will tell on this one, if you are being up front currently. Home ownership doesn't appeal to you?
Re my REAL forecasting record.
"I've consistently said that the major indicies will fall, gold will rise, and that rates will keep falling since early 2001."
Yes, a good student reads a lot. There will be gaps to fill, lower lows and higher highs. It is only the timing that confuses.With regards to rates didn't we have 2 increases since then?
"This was a time when everyone else was extremely bullish."
Not everyone Nickoo. There were many that foretold of things to come. But there are few of us that listen.
Lastly Nickoo, it is not my intention to bash your or your mentors opinions. It is just my nature to like to leave a little bit of room for doubt and to challenge those that seem to know too much. Happy trades.
