A long-time Bob Brinker historian, using pen-name, "Newslettercheat," wrote these editorial comments:
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Brinker's Hobson's choice
Brinker has to be viewed as a total incompetent in his ability to forecast bear markets and avoid them for subscribers who pay him a fee. Indeed he has compounded the proof of his incompetence with his bombastic attacks on those "bad news bears" and "false prophets" and "cassandras" who were bearish in the 1400s and according to Brinker ruining people's finanical portfolios by scaring them out of the stock market. Today the market is about half what it was when Brinker was blasting those bears--just about 5 months ago.
To further show his ignorance and prove once and for all that his "buying opportunities" were nothing more than a parlor trick, Brinker has with pomp and ceremony on several occasions picked a bottom or "buying opportunity" only to watch the market fall another 100 ponts or more and pick another one; pretending never to have picked several higher.
Now he's shell shocked and retreated to a hole like a prarie dog who knows there are hunters on the hills above him. He talks about politics and energy and automobile problems, but he seldom mentions what he once claimed to be an expert in--the equity market. The only time he does these days; he skips over his own obvious incompetence and the plethora of failed "bottoms" he has called previously and talks about doing his "work" in "identifying a bottom". And until then $ cost average LOL.
Well you can usually bet on Brinker being a creature of habit and predictable; except for the QQQ debacle. You could predict his rather qualified and somewhat bogus "re-entry" call in March 2003. He was afraid he had missed the lows--he did they were in Oct 2002-and wanted badly to get into the market. The Iraq war worked the last time so it was likely he would take another shot on the opening of hostilities.
Now the market is below where it was when it worked the last time in 2003. Brinker would like to put something in writing with some hoopla--not to much in case we go to 400--claiming this is a buying opportunity. The "point" could be spun later to make it sound like a big deal to new listeners who were unaware of the fact that Brinker was bullish all the way from 1575 to wherever this debacle ends.
Now of course such a call will not sit well with those who took the last call in 03 and have now taken more than a round trip. It will seem to slick by half. But that is what Brinker often is. A tricky fellow QQQuite often hard to pin down.
He has to start a whole new bunch of goobers and geezers now. He is going to lose those with a brain when the subscription is up. He has really nothing to lose to throw up another buying point and hope it sticks.
November 21, 2008 9:07 AM