EXACTLY. PANICKING IS FOR SUCKER! Professionals do what I just did. Step back and analyze the situation for the facts not the propaganda.

But yes, the key to watch now is how the market reacts on Monday. If we have another massive selloff on large volume, I will get semi-bearish. But I still find it hard to get very bearish when the crowd is this pessimistic on the TV and internet.

Look at what ORK just posted in the chat room:

[2007.10.21 06:37:43] orkiter: interesting-”There has been a lot of talk once again about recession, especially from some CEOs. I have to wonder though why insider selling is at levels more associated with a meaningful market bottom rather than a top if a recession is imminent. Insiders were selling in droves right before economic growth began plunging in 2000. The U.S. economy had been booming over the last few years and is in the process of slowing to modestly below-trend rates.”
[2007.10.21 06:38:18] MAHKET: great stuff
[2007.10.21 06:38:20] orkiter: good thing i didnt play SLB…ouch
[2007.10.21 06:39:03] orkiter: ” think it is wise to look at what insiders are doing rather than what they are saying. I still believe a booming global economy combined with the drag from U.S. housing will produce modestly below-trend growth in the U.S. of around 2% to 2.5% over the intermediate term, which is the perfect backdrop for growth stocks. ”

That says a lot right there.

How do I suggest you build a port? I suggest you read HTMMIS by WIlliam O Neil and build a port slowly and do not have more than 5 stocks and after analyzing your situation recommend you only invest 50% of your port in trading. The rest should be somewhere else–cash, mutual funds, whatever.

You are off your all-time highs for one day and you are freaking out? How do you know the market has not discounted EVERYTHING now in the real estate and financial market. Do you hear how negative everyone is. I almost want to buy right now after seeing some of the silly newbie comments I have heard the past few days. PEOPLE ARE FREAKING OUT. If you have a loss, sell. If you have gains hold.

Your port is out of balance? How?? Longs were and are still killing it. Why would you want to be short just to be balanced?? That is an amateur way of thinking. The best time to be short IS FIVE TO SEVEN MONTHS AFTER THE STOCK HAS TOPPED. THAT IS WHEN IT TAKES ITS BIGGEST AND FASTEST DIVE. You don’t have to nail tops to make money on the short side. Hell, I refuse to short until i know AFTER THE FACT THAT THE MARKET HAS TOPPED. Longs always do better than shorts. I sure don’t want to be short in a bullish market.

I charge $50 an hour for a one-on-one phone consultation where we will go into detail over everything and anything you have a question on. If $50 an hour is OK with you, just let me know. We can sit and have a long pow-wow.

For one-on-one live consultations I charge $200. But in Maui, I doubt this is going to happen. But when I move back to the mainland it is something to think about. Later on, in about 10 years, I plan on hosting my own annual seminars. But not right now.

You answered me in my “Ugly Market Reversal” and said I should be holding the best stocks..and hat most of your longs are still working. After your comment..I feel lost!! . I see that you, at times, say that you are adding to your position at times..but that is different from a buy recommendation. How do you suggest a new partiipant builds a portfolio?? I need help!! I am sitting on close to 7 figures in stocks and was near a all time high in my account until Friday..arrrghhh… This is most important to me and could/will affect me entire rest of my life either way depending on the help or advice I am able to find. I NEED HELP!! PLEASE!! What do you suggest?? Also, I am in the RE business and absolutely know that there will be catastrophic damage to come for the banks and RE in general. Most of the nasty news won’t happen until early next year when all of the adjusables reset. Many many people will walk from their homes, or re-negotiate loans with the banks as their loans will far exceed the value of their houses..others will be forced out because they simply cannot pay double for their housing in a market downturn like this one. The notes that the Banks are holding now have been valued at around 80% of their original value. Unfortunately the offers for this paper doesn’t exceed 20% in most cases and in some..less than 10%. When (not if) the Banks are forced to turn the lights on…it will be ugly..anyway. I have been in the RE business ince the 80’s and wanted to give you some info I thought might be helpful.

Do you do private consultations? I want to be in your boat Joshua. I want to make a killing if the market gets bearish. I am only LONG now and feel my porfolio is out of balance! I am nervous about it!! Please help me! I will pay you for your efforts…of course!

With my greatest sincerity,

Mark Puckett

Santa Barbara

Please call when you can. (805) 698-2408 CELL
(805) 687-8558 HOME

P.S. – Long n : FWLT, FCX, DE,ANAD,APPY,BKR,CBAK, DAR,DM,GLNG,KMGB, KONG,LXK,MASI,NHY,NOK,SYK,USM. WHT, and the dogs…LDK, EGY…