TFNN - The Opening Growl
By TFNN, Corp.
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Market analysis and commentary by Bud Rolfs, Chief Technical Analyst of The Tiger Trading Post
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2007 & 2009 both Bud Rolfs & Tom O'Brien tried to short the markets fighting the trend all the way. Listeners and subscribers suffered the consequences. Bud does great when he's with the trend but lousy when not. Unfortunately, in 2009 he's been unwilling to change his position despite being wrong since May. Basil Chapman is the winner of the group.
Market is up big but on no volume. Next week we will go down big. Expect a 25 percent drop soon.
Repeat this almost every day and you have this show.
I subscribed to Bud's newsletter from Q1 2008 to Q1 2009. I let my subscription run out, and when he had a special for new subscribers, I thought I'd look into his trade recommendations more carefully. I looked at his picks and the stops and price targets he gave, and to my surprise, had I followed his picks in his newsletter and used the stops he recommended, I would have actually LOST MONEY during that year. Yes, he had a few nice winners, but more often his picks would get stopped out for a 10% loss before going higher - if they did. Of course, when Tom interviews him, Bud always talks about his 1 pick in 10 that actually did really well and not the other 7 or 8 that got stopped out for losses.
I am more convinced then ever that Bud and Tom's strategies are just plain terrible for the average investor. They have both been wrong for months at a time and just don't seem to recognize that sometimes price and volume don't confirm, and that just following price might be a better strategy. Trend followers just look at prices and catch the major part of a move and know they will give back something at the top and bottom, but they actually made big money in 2008/2009 due to the big trend moves during that time.
Sorry I had recommended this as a 5* before. I did it only because Tom's show was so terrible, and Bud's was better only on a relative basis. After going through the calculations of his recommended picks while I subscribed to his newsletter, I have to say STAY AWAY from this hogwash.
Personally, I think Bud does too much brown nosing with Tom - must be some payoff there. I am learning to like Basil's show, despite his rambling - because he actually seems to make the correct market calls.
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- Category: Investing
- Language: English
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