The Idiot Gurus Don’t Give a Crap About You

This business of markets, and the eventual ability to survive them and to prosper, is 100% about how committed you are to getting there, how much you are willing to give up to get there, and how hard you want to work. It has zero to do with IQ and fancy titles from the “respected” Ivy League schools. As a floor trader in my early days, the old veterans used to laugh at the MBA/PhD know-it-alls who came down to the floor to trade. They sucked. They were smarter than everyone down there (they believed), and could never admit when they were wrong.

The “snag” with the odds of improving on our abilities is all about the effort and the commitment. And very few people will ever do what is necessary. So these people then turn to the GURUS – who are ALWAYS wrong, especially at the best opportunities to exit and to enter markets. This moron, Greg Marinara Sauce, is one of the most incompetent ones. And people LOVE him and flock to him for “guidance”.

So while he (and all of the incompetent clowns) was claiming that the early February was a stock market “crash”, what was I saying? On February 6, the very day of the “crash”:

I do not remotely believe the bull market in stocks is over, not even close, but I do believe volatilty is here to stay, and I do believe in opportunities being more available going forward.”

And kept repeating this for the last 3 months, from 2/8:

“I believe stocks are in a major bull market, nothing changed there. The stock market will continue to be volatile. I believe this whole area, is reaccum..”

The stock market is in a secular bull market, I have been adamant about that for years, have never once wavered from my belief. I do not care what anyone else claims or believes, when I’m wrong I fix it. The stock market is the greatest wealth builder on this planet. And there are a million different ways to approach it.

So we have the GURUS, who are always right because why? They don’t lose money, as opposed to myself. Because they never actually put money on the line, as opposed to myself. Yet very few are interested in what I am trying to do for people.

I am taking it all in, I do not need to be dealing with this.

 

August 20, 2014

For 5 plus years, the geniuses who have claimed that the stock market is about to crash — they are now getting more frantic and strident. There is almost a 0% chance of a crash anytime soon. Since 2009, my friends at ____ have called me every nasty name, as I repeatedly stated that the March 2009 low in stocks is a generational low and stocks are going massively higher. The Dow is eventually headed to 100K, but with several huge selloffs along the way.

Gold currently is in the accumulation phase. Accumulation is simply a market going from weak hands to very strong hands. A market under accumulation resembles a filled beach ball. You can push it down, but it pops right back up, because the demand is overpowering the supply. So, listen to Andrew and accumulate gold into weakness only.
Gold will continue to trade in this range, but around this time next year gold will do a major catch up to the outperformance of the Dow. Continued patience and please ignore the perpetual doomsayers.”

 

 

 

 

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About traderscott 950 Articles
Trader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day. Scott returned to markets over fifteen years ago where he continues as an independent trader.

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