It's been awhile since we checked in with Eric Muathe. He posted the following video over this past weekend and has given me permission to make it available to my readers. In summary, Eric is "very excited about [August]."
Find out why:
Bait and Switch
A
5 comments:
Allan:
I would like to give a heads up to your readers about this video. I became a subscriber to Eric last summer after a mention by you. In fact, I posted some positive comments here afterwards that you passed on to Eric and he put on his home page as a testimonial.
Eric's charting methodologies are excellent. I urge anyone who subscribes to pay the pittence extra to access the secret section and learn all you can.
The warning has to do with what he even says in his video. This video was taped last week. Eric keeps saying he "thinks" what will happen and he's "all in" short. I noticed that Eric does his sunbscribers a big disservice by making the statements and frontrunning his charts. Unlike you who mentions his thesis but waits for confirmation, Eric loses a lot for his subscribers who follw his "all in" calls. I am not longer a subscriber but Eric was making these all in calls on twitter telling his subscribers to buy double long ETF's several times on the way down the first 4 months of this year.
Just look at the charts, wait for conformation and ignore his biases.
Lasertrader,
Thank you for that fair comment. I too left Muathe after he pounded the table to go long last Sept or thereabouts when Allan was pounding to go short. I lost my ass with about 15 stocks that Eric gave the buy signal for after that. Now he is claiming to have called the top last Sept which really sticks in my craw. Also, Allan, he is doing you no personalfavor since the video is available to the public elsewhere. Notice it cuts off at suggestions on what to do, thank god. You can also access his charts free on stockcharts but save your dollars, or send them to Allan...JBG
Allan:
Don't post this unless you think it is pertinent. But I have noticed in the SPX and RUT that the renko at 0.2 pts has been very good at spotting trend changes on the weekly. I confirm using SMA(15) and EMA(10) and when they cross it confirms the move. I can't ever tell the magnitude of the move, but lately with TNA/TZA/BGZ/BGU you can nab about 3+ pts for a good trade. My problem is generally setting durable stops that allow the weekly trend to continue, but keep me from giving back where a trend may switch. I think your Renko post (3pt break) charting has revolutionized my trading success. I think it adds clarity to chart patterns others may present other places including yours. Appreciate your insights and introductions into others thinking about trading more profitably. Thanks. -Doug
Blind squirrels find acorns now and then. Like everyone else, being objective is tough when you want to SEE something about to occur. Agreed that Allan's confirmation strategy is better. We don't all need to be first to the Shrimp cocktail, just be present before they are gone. GL everyone.
So, how did Muathe's picks do so far?? AMR recommended as a short at 5.35 is now 5.90 for a loss of roughly 10%. BAC recommended to short at 14.35 now at 16.66 loss of tadaa 14% and he is still promoting the video!!?
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