Wow. Another masterpiece, and essential wisdom from a totally clueless GURU. I actually feel sorry for this guy. He is on another planet. In the video, I lost track of how many times he said “if”. If, if, if, if, if. And holy cow, this guy is so out of it, that he is actually claiming he “has been spot on with everything in markets”. Yet for YEARS he has been claiming the stock market is about to crash. Call the insane asylum immediately, he is a danger to himself and to others.
And he is just now figuring out that bonds are bearish, seriously. I have been chronicling my bearishness on bonds for years, yet I’m a trader, and I turned intermediate-term bullish and got long TLT, right into the bottom in early December 2016, and wrote about it here –
“So when those two steps occurred, along with time frame work, the trade set up well to take a position, as discussed in Thursday’s intraday blog post (subscribe above). And once again, I don’t buy because I’m bullish, but because the strong hands are becoming bullish, the weak hands are freaking out, and the trade sets up.”
But in that exact post I said that this is a trade only, and I am EXTREMELY concerned about the huge developing bear market in bonds, and 2017 it will really start playing out, and I already was looking at the next trade to play out with 3.05% in my crosshairs. Here is that 10 year note yield, and the 2 year yield:
“So while the short term picture for yields is brighter with the hysterical bond crash talk and the technical situation, the much bigger picture for bonds is far from rosy. As can be seen from the chart, the 2.4%-2.5% area for the ten year yield is a solid resistance area. I do expect it to be broken eventually, but the drop in yields from here could be surprising. The next big area is around 3.05%, which will likely be another short term trade area to take the other side. But this is what we are now facing in the world as we enter 2017. Really the beginning stages of a very long term bear market in global bonds.”
That post was not written last week, it was written way ahead of time 26 months ago – way ahead of time – here is TLT now.
In other posts, written way ahead of time, I discussed how to take advantage of this by shorting TLT (buying puts on TLT), that is discussed here. So sorry Greg, while you are looking in your rear view mirror, and just figuring out that bonds are bearish, I’ve been long March 125 TLT puts since 12/6/2017, as discussed here:
So like usual, people LOVE incompetence – love it. Truly amazing, people love this guy and his ilk, and very few pay attention to my work. Very enlightening to me. Very.
We are not all as stupid as this “guru” you mention…and I can assure you most of us who read your words each day appreciate your long, hard work, long early morning hours going over the charts….to produce your superb morning commentary on the markets. If I even thought about spending that much time at the markets…my wife would divorce me quicker than it takes to short TLT.
Thank you for the kind words. Yes I do understand that people have their lives, families, work, obligations, and there are only so many hours in a day. And I go out of my way to point out that it is the gurus, the media darlings, and the big-time hedge fund managers, whom I am aiming my critism at – 99% of them are TOTALLY incompetent. Not the “everyday folks”, they are not out there pontificating. I want to see them do well, they are not the ones disrespecting this business. Throughout history, the great folks who taught us, who have worked hard at this business, and the people to this day – showing great respect via their hard work. Markets are a huge struggle every day. But it is the scam artists, the incompetents, it is their disrespect which I will keep pointing out, and hopefully turn a few people around. And the scammers are completely unashamed, and feel no guilt, no remorse, towards being so horribly wrong and leading people astray. Truly disgusting.
I’m a working guy as well, but it doesn’t prevent me from making a point to read your posts in the morning,’and check things out as the day progresses for the trade set ups you point out. I’m learning so much, but look forward to the day when I can watch the monitor in real time.
Thanks for what you do. Don’t get discouraged. Your doing a great service.
Thank you Peter. Just keep working on it, this stuff slowly sinks in and builds upon itself.
Mannarino was one of the “market experts” I would follow before I found you. I can now see it was because all I wanted to do was hit the home runs (options) and guys like him sold that pipe dream to me, just like a politician telling us what we want to hear. I still feel the crazy strong pull go after the home run but you have finally, very very reluctantly, convinced me that singles and consistency are the path to success. Thanks for all you do for us up and coming traders.
I appreciate it very much Dave. In baseball, the home run guys get all of the glory, and they are usually strike out kings also. Same with markets.
been awhile since I’ve seen Greg pontificate… he looks a bit ill….. probably from doing his own “smack”…. fear/emotion/prognosticating/hubris…. “I am not saying…” “I have been spot freaking on…” and enter the PM pitch… CB’s… end of the world! same script for “years” (as he admits)… a whole lot of screaming “wolf”… with no actionable direction other than to dump everything and by phyzzz… because it’s “safe”…
from his site: “I am the creator of The Evolution System, a cutting edge technical trading system which is light years ahead of any other trading system ever created.”…. LOL…that’s a good one!….
he’s got it all figured out….where do I sign up for “The Evolution System” cause I want to be “light years ahead”….
This guy is a total IDIOT.
He seriously is delusional, the good thing is these guys are actually comical, as you pointed out. What is with these people and their crappy “trading systems”. It’s like they all have the same scam playbook.
Yeah man, much like most of the garbage out of Hollywood… rehashed shiite with new actors and a script that rhymes… “lipstick on a pig” that’s a clone of previous pig… 😉