The Surf Report

[Mike Okistini]

Quote from markyhabs2:

Mike you seem to be a prick... Actually if you watched the market yetsterday you may have noticed the volitility what everyone was hoping for as we are looking for Capitulation...The 7777 call by Surf was close to that...Today Asia and Europe are up as they as everyone believe the so called bottom has come near...Not only Surf is saying this but most experts in the world...
If you had done a fact finding probe you would have found Surf to be a well respected trader with cash... Oh by the way he has his own Jet too...

Let's be fair here. There were several posts calling the bottom since September which were all incorrect. I do not fault a man for being incorrect in call because 100% is not attainable in trading. But when someone spouts all over ET with an air of knowledge and superiority and then makes claims as though it is written in stone and guaranteed true, you know the blowout is coming. Today Europe and Asia are up so that means we are in a bottom? Ok, excellent analysis. Please let me know what happened those other days Europe and Asia were up in AUG, SEP and OCT and NOV.

Capitulation is what we are looking for but calling the bottom for two months is not intelligent investing. Our resident expert admitted to loading up leveraged on this "call" and blowing out if we ran past 7777. Please explain to me how leveraging the house to pick a bottom in these market conditions is intelligent investing. I make a prediction that you will have trouble justifying that behavior.

And as for fact finding probe, let me show you what good research provides:

Smurf is in charge of marketing for a hedge fund. MARKETING, not trading. Smurf writes for the internet and simply publishes his writings here. Please show me the well respected part. You are defending the guy who supported Timmay and helped him spam ET with his BS and where is Timmay now...

This is the guy who rips on any one using indicators and then writes:

As far as indicators, I use Bollinger Bands, and I use a twenty period moving average, and that’s really about it. On occasion, I have parabolic stop and reverse dots on my chart.

Nice hypocrosy.

Instead of looking at my posts, look at Smurf's post fighting over indicators and insulting people, making predictions and acting like there is no way he can be wrong, and then leveraging everything he has, admitted by him, in a long position which he said he blew up on.

You can attack me all you want and you are right, I am most likely being an asshole here, but after reading all the BS Smurf has spewed at other people, it is time for him to wake up and let this be a lesson to him.

Respected trader... LMAO... yeah an internet market reporter and VP of Marketing screams trading credentials. At least I admit up front I have no trading rep.

Choose or be chosen..

 

[Thunderdog]

Although I suspect that marketsurfer is probably a good guy in the real world (just a hunch since I never met him), I agree with Mike that his journal and other commentary here at ET serve as a cautionary tale. Time and again.

 

[Rodney King]

Quote from Mike Okistini:
Instead of looking at my posts, look at Smurf's post fighting over indicators and

It's good advice indeed to, as you recommend, not look at your posts. You spent a whole page flaming Surf, without a single sentence of constructive or insightful market commentary.

 

[Thunderdog]

Quote from Rodney King:

It's good advice indeed to, as you recommend, not look at your posts. You spent a whole page flaming Surf, without a single sentence of constructive or insightful market commentary.

Although your post was not addressed to me, perhaps I may offer an observation in response. One need not be a chef to identify a steaming pile resting on a plate.

 

[slacker]

Quote from Thunderdog:

that his journal and other commentary here at ET serve as a cautionary tale. Time and again.

True. You can also point to the number of posts. People with a lot of ET posts don't do too well... Over 10000 posts and the ET fever really takes a hold. Look out Tdog you are getting a little 'long in the tooth'!!!

Surfer... register as a bank and try to get some of that bailout bux!

 

[Thunderdog]

Quote from slacker:

...Look out Tdog you are getting a little 'long in the tooth'!!!

Don't I know it. Posting on ET is like reaching into the cookie jar, and about as nutritious.

 

[Mike Okistini]

Quote from Rodney King:

It's good advice indeed to, as you recommend, not look at your posts. You spent a whole page flaming Surf, without a single sentence of constructive or insightful market commentary.

You make a fair point so let me answer you.

1. The market is in free fall right now do to some major fundamental flaws/shocks/cracks in the economy here and abroad. This is not a market to pick bottoms and what I have been doing is keeping my short bias and going in and out until market proves otherwise and that signal has not come. If you want to go long scale in slowly to small positions and expect to get whipsawed but the best advice is stay away from long or bottom calls right now as this is not over.

2. Do not pump up your ego and post all over a message board with fake authority and make wild claims with guaranteed trading calls as though just because you wrote it, it has to be true. The more arrogant you are about the calls you make by almost proclaiming the market has to do what you say will lead to a blow up GUARANTEED (reference When Genius Failed). Everyone, including SMURF who posted like they were THE authority has been proven wrong too many times for the lesson not to sink in. Make your trades, have an exit plan in place, LOSE THE EGO and remember the market is always right, you as a trader are a small humble person just looking to make some money.

3. Owning a jet does not automatically make you a well-respected trader.

4. Leveraging all you have into a trade to call a bottom is a major mistake and not reflective of a well respected trader but of a gambler and all newbies should remember this.

5. Someone who writes about the financial markets on a webpage is not granted expert status or credibility.

6. Being right about us being near a bottom is irrelevant if you blow out waiting to be right. The market can remain irrational a lot longer than you can remain solvent. Write that famous quote down and read it daily traders.

7. Do not be a hypocrite and blast users of technical indicators if you yourself make use of them. Lecturing others on what you should or should not use is completely arrogant and shows a person who needs validation that their methods are indeed correct as opposed to just focusing on making money and not caring what anyone else does.

8. Do not support spam trolls on a site where they are not welcome.

I think my contribution above is sound and useful to a lot of people. I am addressing Smurf's self-proclaimed trading prowess which has been proven to be all fluff like his supposed resume, not him as a person. I am sure he is a wonderful person despite the impression he gives here.

 

[Pekelo]

Quote from markyhabs2:

Mike i just read most of your posts...

You moron, Mike isn't the issue here, Surf and his ridiculous and mostly WRONG calls are.
Mike's description of Surf is the best analysis what one can get on Surf!

Now, I would like to use this occasion and remember our good ol' friend, Surf, whom we all loved because he was an entertaining fellow and an excellent fade.

In Memorian: Marketsurfer 2002-2008

Dead for the ET community....

 

[Thunderdog]

Well, Rodney, it seems that Mike offered some decent market commentary after all.

 

[Thunderdog]

Quote from Pekelo:

In Memorian: Marketsurfer 2002-2008

Dead for the ET community...

Oh, come on. Where would ET be without surf? He'll be back, new and improved. And all will be well, once again...until the next time, of course.