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Alright....alright....I'll concede that one! I was a little harsh on Jim
Rogers. He got that one spot on. No I'm not long Russia but I used to work with
someone who now runs a Russian Stock Fund out of Greenwich CT..... The guy has
always had this buy-on-dips mentality.... oh well.
As for JR: He did also say commodity prices were going to the moon and T-bonds
would not trade below 6% again.
On a serious note. To a certain extent I do actually listen to analysts and so
called market "experts". The first thing I do when I read an article or listen
to an interview that has caught my attention is try to come up with counter
opinions. What that does is gets the ball rolling on a brain-storming process
that (at least in my case) usually results in an issue or aspect of the market
being thought through more carefully than it would have been otherwise. How many
times have you been awake at 3am with so many thoughts in your head on a certain
market. I find this interlectually stimulating and I see it as a good sign that
things seen or heard are not being taken verbatum.
On my hard disc I have a HTML page for almost every market, region etc that I
think is relevant. ie I have pages for the US, Japan, Australia, Europe, Grains,
Metals, Energy, stocks, weather, demographic trends, etc, etc. If I read an
article of interest I will put the general summary into the relevant file. So
then. If I am about to go long crude oil, out comes the file on energies and I
have an instant briefing on what has been said about that market going back for
however long. There will be comments from CNBC, from the WSJ, from Barrons, from
trade journals, from conversations with other traders etc.
It is hard work keeping track, but I do trade full time and am not a day-trader.
If I looked at charts all day I would begin climbing the walls.....
But I guess this is only valid because of the way I trade. Although I have a
methodologies/systems that could be more or less mechanical I do inject an
element of human-analysis. A fresh example is last week. When the Fed
intervened mid-week one of my systems told me to go long the dollar index. I
chose not to. I waited until Friday morning to begin buying $.
There have been times when this human element has cost me dearly, but on the
whole I am very much ahead due to this human element. It works for me.
Rgds.
Essan.
HBernst963@xxxxxxx wrote:
> Jim Rogers has been very bearish on Russia and been right on that one. I hope
> you're not long!
>
> Howard
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