Quote from Joab:
Just to keep the facts straight.
Joab's market bottom call thread
11.24.08
http://www.elitetrader.com/vb/showthread.php?s=&threadid=145974
Market up 15%
Joab's ICE call
Called top of 182 current price $81
http://www.elitetrader.com/vb/showthread.php?s=&threadid=87841
Joabs market top call
February last year
http://www.elitetrader.com/vb/showthread.php?s=&threadid=88146
I could go on and on if you like....
Any time anyone of you children who think you are so smart care to
It seems Joab likes to backtrack and bring up obscure references to defend his crumbling position. Joab refers his market call on 11/24, he started this thread on 12/04, the market down day he refers to was 12/01 and the event he cites I couldn't find anything going back past 11/28.
Let's break this down:1)Since 11/24 the market has been up
2)The move on 12/01 didn't break 11/24 prices to the downside.
3)On 12/01 pretty much everything went down.
So Joab claims the downmove on 12/01 was caused by the Canadian event tanking the markets. I would be inclined to believe him if 1)we did break 11/24 prices, 2)ONLY Canadian markets went down. Sadly for Joab, this wasn't the case. Reading this another away, we would have seen the TSX/loonie gone up on 12/01 if not for this event.
More cracks in Joab's argument. He claims we are up 15% since 11/24. Taking the DOW open around 8000 on 11/24 and the DOW close on 12/05 which is 8635, (8635-8000)/8000 = around 7.5%, half of what Joab claims.
Also, the call on 11/24 happened PRIOR to the event that he bitches about. Well, going off his logic in the argument I could also say on 7/16/07 I thought the market was going down, it's down now, so I must be right. IF Joab made a bottom call after 12/02 or after, then it would carry more weight, otherwise it's just hindsight bias.
Lastly, Joab is so desperate to maintain some credibility he refers to calls he made last year, WHILE the market was still going up after. If he would have made a call on /10/15/07, I would be impressed. And WTF does a call made last year have to do with what happened a few days ago about the market move of a SINGLE day? That and this are mutually exclusive.
Joab, I could care less about political views of anyone. Like I said, I thought you were one of the better posters on ET, but you can't see the sky from this hole your in. You retract your 1 asinine point about Canadian politics tanking the market, and I'll back off.