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Thursday, September 18, 2008

Did Bob Brinker Miss the REAL Bottom?

September 16th, Bob Brinker removed his latest buy signal and said he was looking for another bottom. Now three days later, did Bob Brinker miss MOABO? Thursday and Friday, the stock market had the strongest two-day rally in years.

The stock market ended very close to where we started for the week, but take a look at the chart -- what a roller-coaster ride! Was that the bottom? Did Brinker, after calling at least three prior bottoms and then removing them, miss the real bottom? We shall know in the fullness of time.

Ironically, the price of oil moved in exact tandem with the S&P this week. It moved down with the S&P on the 15th, 16th, and it moved up with the S&P on the 17th and 18th. $Oil ended just $4.00 higher than it started. The S&P 500 Index ended up about 4 points at 1255.

Pen-name PB, wrote this at Kirk's Facebook site:

"No, not odd, just terrible wrong. Brinker couldn't have missed this call any worse and his many "all in calls" were dead wrong. I could have forgiven him if his hubris would have allowed him to admit his failings. He just will not, can not admit to failure and bad judgment. For that reason I dropped his investment letter. His recent advice for the last 12 months has had a pernicious affect on his subscribers. IMO the man spins and disassembles and can't be trusted to level with his subscribers."

Yep this week it looked like sink or swim to me. 8~)


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