November 14, 2007: Camistocks calls for a bottom in the stock market. The Dow closed at 13231.01.
November 26, 2007: Camistocks calls the bottom in the stock market. The Dow closed at 13289.45.
12/6/2007: Camistocks calls for a bottom in "certain sectors," recalling the 1998 bear market.
12/11/2007: "Personally I still don't expect a retest of the lows, just a consolidation." Dow close: 13432.77
are we noticing a trend yet people?
1/23/2008: Check out this winner blog here from camistocks. Money quote: "Not all subprime loans are going to be worthless, despite what the bears will tell you." Well, cami, according to one bear (Bear Stearns), you are right. 2% of marked-to-model value certainly isn't worthless! I suggest all Fool readers read that blog for it's comedic value. And then after that go read SpecBear's August 2007 blog for a dose of truthfulness and commonsense.
Here are some other money quotes from that blog:
"Right now the most important thing is that markets must calm down. And they have done so already, because the spread between LIBOR and the Fed Funds rate has normalized again."
"Sovereign wealth funds, what are they? They are funds created by states to manage their huge accumulated reserves more effectively. So they will not only buy safe treasuries and other government's bonds, but also stocks or real estate or whatever."
"The US housing market will pick up again at one point. People from all over the world still want to immigrate into the US, just ask the illegal aliens!"
LOL cami. i'm having a hernia laughing from all these quotes.
1/30/08: Cami makes fun of a bearish commentator. Dow close: 12442.81.
3/11/08: And I quote: "I think the DOW and the SPX have probably successfully retested their lows." Dow close: 12156.80.
I will give you credit for being bullish on gold, but at this point that should be obvious to anyone. Your track record on stocks, unfortunately, is completely out-of-line with reality, and this blog is just another in a string of predictions that will prove to be wrong. If you keep writing bullish blogs, eventually you will be right - just like even the blind squirrel finds an acorn now and again. The other criticism I have is that there are plenty of technical traders I've seen that have made bookoo bucks shorting the market, not just on the fundamentals but on the technicals too.
And how does this deal eliminate moral hazard? 30b backed by the Fed, which means my tax money. If anything this creates more moral hazard. This is not hard, you don't need charts or zillions of 10Q's to figure it out - it's common sense. What happens if UBS and/or Lehman goes down this week? Then what? Is the stock market going to bottom then?
The only people who are suprised by this BSC thing are the same people who are suprised that New Century went out of business, suprised by Enron, surprised that oil is over 100/bbl, surprised when they get wet when it's raining and they don't have an umbrella...