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Mcclellan : "this Is No Bull Move, And It's About Over"


Guest ike

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Our Guest Consensus has turned decisively BEARISH as of 12-7-02. 8 BULLS, 21 BEARS, 8 NEUTRAL.

We posted the following interviews this weekend:

Sherman MCClellan says that the market has very little ability to go up without a significant consolidation first. In addition, he points out that the Summation Index does not show that we have a new bull market. In his opinion, the rally has not generated the readings asscociated with a new bull market -as he had hoped for. The market may be able to generate those readings by January, but it is questionable, because it should have done it by now.

Robert Balan says "we have seen the top, and we have 3-4 weeks of lower prices ahead of us."

Larry Katz discusses several of his indicator, plus the XAU, and he says that he's going to concentrate his long trades on gold stocks only.

Fari Hamzei says that the market will continue to decline into Wednesday, or, Thursday.

http://marketviews.tv

Tomorrow, I'll post here my weekend analysis for all the stoolies to enjoy...

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Ike, I listened to all your stuff this weekend - great show. Your call on the XAU might be right. I expected it to be higher myself. But since that index is loaded with hedgers some of the stocks might not do well at all if the POG moves too high. Following the HUI is better. Some say that miners will go down if there is a crash because that is what happened in the big one (depression). But the miners did recover and made new ground in those times. Today, however, the miners are coming up from a bottom. Such was not the case in the depression. Nevertheless, if there is a crash some pullback could occur, but I don't intend on exiting my position. The problem with not being invested is that a big move in the POG could come overnight while you are out of position.

 

It is also true that new bulls are never born from the old leaders as you've noted. Tech is toast. Thanks Ike. Keep 'em comin'.

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I have only staerted to track the consensus since May, so. I do not have lot's of historical data to base a truly informed opinion, upon. However, my observatiion since I started tracking my guests' consensus opinion, is that the consensus has been right on the money. For example, the last time we had a similar bearish reading was in late June. The consensus turned bullish in late July, bearish in late August, Bullish in late October, and very bearish now. I am working on producing a chart, which I will post when it is ready. Thank you all for your comments.

p/a What happened to my avatar, how come now it is not being displayed? Any help with that?

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Guest AssMaster

Ike,

 

For the avatar, I don't know myself but try the Stoolies Helping Stoolies/Avatar Help forum

 

Avatar Help

 

You could try going into My Controls/Avatars and set your avatar again?

 

Perhaps someone more knowledgable can respond later. :rolleyes:

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Ike I listen to your show almost every day.

 

What would a Stoolie get for $140 to subscribe ?

 

I'm interested.

 

One comment is that when the piggie is flopping over (stoolie talk for the market headed down) I stop listening to any bullish interviews because they don't have any relavance.

 

I've found that the only way to time the down cycle (the only way I play --- DogBoy is definitely not AC/DC) is to follow bearish guys like Doc. They seem to get it right far more often than billish or neutral guys do.

 

The reverse goes for up cycles. When the Bulls start cutting back a little on their buy signals or start suggesting the old rotaion scheme in stoolie talk that's "rearranging the deck chairs on the Titanic") I know were nearing a top.

 

In summary bearish guys seem to be better at calling bottoms and bullish guys seem to be better indicators of tops. Of course they never "call" tops because because that would be an admission that Mr Market does go down --- sort of like farting in an elevator.

 

So with the Bullz you've got to read between the lines because they never really come right out and blurt the truth out that you should sell all and run for your lives.

 

With most Bears like Doc they are quick to admit when we're overextended to the downside.

 

But there are those doom and gloom type bears like Martin Weiss who are pretty much worthless because they always saying "it's the end, the Dow is going to 100 next week".

 

To me Wiess is the Bearish equivalent of Mother Superior (Abby Joseph Cohen). Someday in a future Bull market he'll be similarly discredited and mocked.

 

When we get to 1500 on the DOW, Martin and his ilk of perma-bears will be predicting the DOW is going to zero.

 

Whereas Doc has the integrity and honestly to tell Bears when they're about to lose their shirts.

 

Love Ya Ike !!!!!

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