Hi Steve,

Nothing personal, it is just part of the market's conflicting viewpoints.

I am not his paid client. 

Thanks for sharing these informations.

"But then there are people out there that are trying to make careers out of issuing bold and crazy sounding predictions about the stock market and economy. Some of them have just gotten big in the past year and to me sound like astrologers. I've had enough of it."

This guy's track record is not quite as he paints it in his free posts.  I used to subscribe to his service while I was a bit of a gold bug.  In late fall of 2005, right before gold made a huge run, he sold out of all his gold stocks in anticipation of a 10% down move.  Oooops, it was a 50% up move that he avoided.  In 2006 he issued a "bold and crazy prediction" about how we are entering a massive bear market.... the market continued up!  He claims to have caught the top of the market and shorted for massive profits.... in fact, his main thesis at the market top was how gold was going to the moon and how he was heavily invested in gold stocks -- RIGHT AT THE TOP!!!  What is funny is how when he takes on these massive positions at the wrong time (in volatile sectors), he seldom brings it up again, but will say in hindsight that he was stopped out for breakeven.  Yeah right.

He didn't catch any of this bull market run so far.... none of it!!!!!  He was sitting in cash.  Maybe he bought up full positions last Monday?  That is what he was hinting at in his article.

I know that nobody is perfect, I just find it hypocritical of Swanson that he is telling us to be cautious of people who try to lure you in with bold headline predictions... he is the most guilty culprit!

I have been a subscriber for the last 11 months and I am very skeptical of how he approaches the market. He would not consider a buy in March and shorted the market 3 or 4 times in the Spring only to be stopped out. Now we have the never ending bull - gimme a break! I will let my subscription lapse in September and renew here at BPT

Pat

Were you aware that Mike was shorting this market during the March to June time frame?  He was stopped out about 5 times and just recently pronounced that the SPX was in a Secular Bull market after it had already gone up 50%.  We have been net LONG since March with dozens of long side picks (see the watch list).  However, we will NOT become complacent with indexes approaching some key resistance areas. 

Was he right when he went long Gold stocks just before they plunged over 50%?

Hell if you listened to Mike over the past two years you would be broke.

Our view is to trade the trend and identify support and resistance along the way (actually use technical analysis) while Mike just shoots from the hip.