Yep, he gets paid for his opinion — right or wrong. Never take investment advice, from someone who still has to work for a living.
He is unique among pundits, and he is self-employed.
Since the 1980’s he has subscribed to every investment newsletter in America that has published for at least 5 years.
His theory is that self-employed advisers who can make a living for 5 years recommending stocks are the best of breed.
He has built up an amazing statistical database on stocks recommended by several hundred newsletters.
He rarely gives direct advice like “buy this” or “sell that.”
He usually gives general advice - like tonight.
What he is saying is that a large majority of the advisers he analyzes feel VERY strongly about a break below the 200 moving day.