This call was from a stock promoter, and we had a discussion on the present market conditions... so shortening a long story... I get as many as two or three a day sometimes, sometimes more if I am available to answer the phone... I always open up a live Level II tracking portfolio on each of the callers to track their mentions. It has been my experience that I often wonder what motivates them to call as much as they do in a broad market downtrend and promote buying a position to go long.
This leads to me believing that their motivation is being paid by their contract. In almost all of the stocks from each of the promoters that I have followed in those level II trackers.... only 1-2% have ever had any success (a very poor average of success if it was to be applied to an averaging strategy for trading) and of those that did, they had some accidental association with some of the guru sites that had also taken notice of the same stock. In factual comparison... I have never come across the same stock issues from a calling promoters source that mirror my favorite gurus mentions... the one thing that my favorite gurus demonstrate is a willingness to recognize a down trend and the reason I or anyone else for that matter, follow their fundamental speculation is that they put themselves front and center on the public stage of television. We get a chance to participate in a truly broad promotion... and that has significant trading value.
I mentioned early in the phone conversation, that I was waiting out tax selling to capitulate for some stink bids before I considered any purchases, and he passed back the thought that Tax selling had already taken place... I didn't agree... there are plenty of people still in the market that have held too long... and some bottom pickers who will still get spooked... and even if there weren't any tax selling... then just the thought that tax selling will culminate in the last week just before December is well ingrained in the psychology of traders to make it a Market Motivator that has meat even if we are both wrong.
GLTA Lostoutwest
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