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Bill got it right as far as my intentions. Ben posts often. I have no idea
how right he is because if I do not know what is in the analysis I ignore
the "tip". As a professional in the industry myself I'm all for being paid
for the years of investment many of us have made in terms of dollars as
well as time spent going down many roads trying to ferret out what works
and what doesn't.
But I'm also in a position to see how much really bad information is out
there and I know how confusing it can be to try and find out if someone
really knows what he is talking about or if the advisor is in the "Hey,
look how fast you can get rich on pocketchange camp". It doesn't work that
way.
Ben may be wildly successful. Someone else attempting to use Ben's
methodology may not be nearly as successful. But I do not think it is sound
policy to try and trade off Ben's rather cryptic, nebulous posts. And don't
tell me that is obvious because on this list people have done far worse (or
at least there are posts indicating so). If he is in the training business
great, just point people to the web site and they can decide for
themselves.
As far as being of any lasting value, "buy around here, sell around there",
has none. On the other hand Ben does generously share some stuff that
others may find helpful. He has responded as a result of this thread and
given the basis of his methodology. People may now decide if it's something
they want to explore.
Regards,
Tom Alexander
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> From: Norman E. Phair <ericrogers@xxxxxxxxxxxxx>
> To: Bill Bancroft <bbancroft@xxxxxxxxx>
> Cc: realtraders@xxxxxxxxxxxx
> Subject: Re: sp500
> Date: Friday, September 10, 1999 11:57 AM
>
> Bill:
>
> What is Profittaker? No no... Who is Profittaker?
> Profittaker is Ben, Ben is a person. A live person,
> believe me I know.
>
> Norman E.
>
> Bill Bancroft wrote:
> >
> > I think the only point Tom was making is this: if you are going to
make predictions, why not share the methodology that allowed
> > you to make the prediction? Don't get defensive, just tell us why we
should believe the forecast. For example, what is
> > Profittaker? What methodology does it use? We are not asking for
trade secrets, just some background information. Thanks.
> >
> > Bill Bancroft
> >
> > JCDuffy@xxxxxxx wrote:
> >
> > > Please see Comments Below....
> > >
> > > ===============================
> > > << << good morning
> > >
> > > i hope you had a chance to roll into the dec contract
> > > if not today day traders can sell short when spoos are up
5-7 points
> > > position traders can use today sell off to go long spoos
when it is
> > > down
> > > 14-20 to go long for a target of 35-40 points
> > > regards
> > > ======================================
> > > Ben >>
> > > good afternoon
> > > sorry i missed the short trade in the late morning by 1 point
and the
> > > long trade
> > > in the afternoon by 3-4 points >>
> > > =======================================
> > > Ben, not sure of your intentions, but I hope (and don't think) you
were
> > > criticizing.
> > > These "misses" just prove once again how very close most of these
forecasts
> > > from Profittaker are. I have no idea who he is, but by the
consistentcy of
> > > his market calls, I do know to be on the look out for his views. His
is a
> > > forecast of support/resistance and direction only. It is not his
> > > responsiblity to determine your risk tolerance. It is certainly not
his
> > > responsibility to tell you for free, things it likely took many years
and
> > > many thousands of dollars to learn. I hope he continues to generously
share
> > > and thank him for it. If you can't use a tool like Profittaker who is
right
> > > most of the time, then don't blame him for what you have yet to
learn. For
> > > some, he is the best of RT.
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