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Obfuscated oblivion


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I have a friend who subscribes to Terry Laundry's services. Laundry uses concepts and chart formations that I can learn from. However, if I just listen to his expressed viewpoint alone, and watch how my friend is trading, then Laundry has been a fantastic fade. He called a top in the market Wednesday, and my friend went short Monday evening following Laundry, right when the NYMO was giving a buy signal.

 

Last time Laundry was this bearish was the weekend following Thanksgiving, and we know what happened then. If Laundry is still a great contrarian indicator, then we are going to have one helluva meltup here.

 

I've tried to get my friend to look at the facts of what Laundry predicts vs. what the market then does, but to no avail. You can't tell nobody nuttin'. Once they've chosen their guru, you can't take 'dat away from 'dem.

 

Of course no service or guru is perfect-- except that there are some that do seem to be the perfect fade.

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