chubby – October 19th, 2007 at 4:11 pm | Permalink
"At 11:18 AM Phil said…”Taking profits – cash is your best friend right now. The Fed can turn this whole thing around in a second or we could drop 380 points by the days end so if you have winners, don’t think of ways to leave them in play, just knock them out and we’ll figure out the markets next week.”
OK, Phil…towards the end of the day we are down 378 Dow points; and this is close enough to 380 for me to ask where in the world did you come up with the number, several hours ahead of time…you never cease to amaze me!!! great call on that one, no matter how you did it! And by the way…Thank You!"
I never set out to be a market prognosticator.
Phil’s Stock World started off as my own trading notes. I would take notes so that I could capture my thoughts, which would let me go back in time and see what I was thinking when I bought a certain stock, hopefully to help me review and correct my mistakes and, even more hopefully, avoid repeating them.
Did I misinterpret an article? Did I take a bad tip? Did I listen to CNBC or Cramer or some other pundit? Did I jump on an analyst’s pick? Did I follow a certain newsletter? Did I hold to long? Did I sell too early? Did I trust the government (anyone who grew up during Watergate knows how dumb that mistake is!)… This article is one of those reviews, good for me and good for you to follow my thought process leading up to this dip.
I had a growing number of people who knew I was into trading and would ask for advice so I started sharing my notes by Email and that quickly became a bother and then a friend of mine suggested I start a blog. I tried MySpace but soon moved to Blogger (the URL of which, amazingly has been hijacked since I left), but my readership grew to over 9,000 people a day and answering questions became impossible and the workload of running the blog became more than I could handle alone. I decided I would either have to go pro or go back to trading privately (which is kind of boring) so I…