re: Dont let today's fools gold fool you.

I'm taking it upon myself to play devils advocate for Mr. Baylor. This is a post by him from 4/4

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Alright thanks. I just download The Starters Guide for Short Term Trading by Toni Turner to my Kindle. I will start reading it tonight. I will try to stop bothering yall. The reason I dont know this stuff already is because for the 1st time in my life I am starting to be able to invest a little money outside of just my 401K and IRA. All of my investments on those accounts are simple Vangaurd funds. Yea I know I can just buy more funds, but figured I would try to learn a little more about investing then just putting everything in auto pilot.

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Yet in the next four months he meets a mysterious investor and is now a board guru. Thats not even what rubs me the wrong way, its the fact that when the market sells off he is immediately on here telling us we should have listened to him and celebrating.

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Brah, he stated numerous times that he was just passing info along and that he didn't know anything about investing. He also said he's known the guy for several years in the post he made in May. There's no guruness here, he's not claiming to be an expert (and in fact claiming the opposite). I have no idea why you all are giving this guy such a hard time for this just because his information or whatever happens to look prescient.

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I think the post is suggesting that even though "baylor" is saying that he is not expert and that he is getting his information else where, "baylor" is the source of the information that he allegedly gets from somewhere else. Its not important though, we have see too many times the rant run off "insiders" and the board seems to be not as well off as it was. Regardless of whether or not the person was an "insider."

I would like to know however, fizz, most investor guides from what I have read say that no one can predict the market. You know a great deal about finance, do you think that someone could predict the market based off of a few charts, as the poster has suggested? Either way what are the chances post spend more time speculating about the OP instead of their own investments.

rally is a rally.

A drop is a drop.

maybe this was a false drop if we go back up tomorrow?

LsuT, although he does read cHart, the foundation of his trading is following the trail of the insiders.
Excuse all errors. Posting on a phone

Glad to hear that Tulane.
It don't bother me Tulane.
I realize we live in a cnbc world where people are not use to seeing correct predictions.
I can understand the reaction.

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I would like to know however, fizz, most investor guides from what I have read say that no one can predict the market. You know a great deal about finance, do you think that someone could predict the market based off of a few charts, as the poster has suggested? Either way what are the chances post spend more time speculating about the OP instead of their own investments.

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I have absolutely no idea, I don't deal with charting and what not.

Thanks for the info.
Does your friend expect it to get worse than 1000 or does he expect Fed intervention at that level?

Does he think it levels at 1000? What would have to happen for him to think things will reverse?

I'm just curious. I'm try to get info from different sources because investing in this environment is too complicated for me. When things ar emore stable it's easier to get a decent return. Not today.

Update I just got.

He is waiting for a temp move up to 1180 which he says we will get to in the next day or two, then put it in another aggressive short for 1000.

If you are long short, this does not apply to you.

This is just for people who want to profit from short term dips.

Overall will be real choppy with lots of ups and downs with the downs being much more violent.

The good news is, it will not take long to reach bottom, and we will be able to to go long in the not too distant future with a sideways bottom that is perfect for accumulation.

The bottom will be much more U shapped then it will be V shapped.

This will give those that are not fillty rich to get decently positioned for the upswing.

As for the other question in the thread about the absolute bottom, that answer will get more clear later on.

But make no mistake. 1000 is not the absolute bottom. That is just the near term bottom.

The absolute bottom for right now is going to be at least 800 with the chance of getting in the lower 600's.

There is a real chance that the bottom of 667 in 2009 will be tested. But there is a lot of support down there and it would take a dissaster to go much below that.

But there is nothing in the way of our short term bottom of 1000 which will happen real soon.

The insiders despite what they say on CNBC is not buying anytime soon. The type of insiders that CNBC talks about is not the same kind of insiders that my buddy talks about.

Dont worry about QE3, even if it happened it would not be effective.

Only thing that can prop up market in the near term would be a very aggresive bailout package in the trillions.

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You will not see 1220 reached again until after it goes below 800.

Bookmark that statement.

I cant be anymore clear then that.

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If we hit 800, i'm moving 100% of bond fund into vanguard total stock market index.