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(3/15/03) Breaking: ABC's Bob Brinker is calling last Tuesday the Stock Market bottom!!

Posted on 03/15/2003 1:30:58 PM PST by Partisan Hack

As of yesterday (friday) he is back to being FULLY INVESTED. He went on to say that all of the sellers are out of the market and he sees considerable upside gains from here.


TOPICS: Business/Economy
KEYWORDS: brinker
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To: arete
Look at the charts. Calling for a major rally right now makes just as much sense as having done so before the market opened on February 18, right afer a similar two and a half day rally. Note that Friday's close is still below the close on 18 Feb.

Of course, anything could happen. But the probabilities are that any rally from this point will not exceed 892 on the S&P 500, and even that much of a rally is very unlikely. The most likely continuation on Monday is at least a partial retracement of the recent rally, regardless of what may happen after that. Trees do not grow to the sky, and the market always takes an up-then-down (or down-then-up) path to wherever it's going. So far, the pattern of the last three years is one of lower lows and lower highs. Until that pattern is reversed, it's a bear market.
41 posted on 03/15/2003 2:59:12 PM PST by sourcery (The Oracle on Mount Doom)
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To: churchillbuff
I hear Brinker infrequently but have not heard much to suggest he is left leaning at all.

His analysis of Bush's call to eliminate tax on dividends...that it will have little effect economically for some time but is rather a step in a major overhaul in the approach to taxation made a lot of sense to me.
42 posted on 03/15/2003 3:13:09 PM PST by RJCogburn (Yes, it is bold talk.....)
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To: mombonn
"I advise clients to avoid market orders at the opening of the market."

Not always a good move and you know it babe. I'm suprised at this advise.

Let me explain, I always anticipate reports or news coming out from the stock. Bad or good. Has worked for me.

43 posted on 03/15/2003 3:27:05 PM PST by AGreatPer (Support Our Troops)
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To: mombonn
BTW, I think Brinker is all wet on this one. We are going to start a war next week or abouts and prices will rumble and tumble. DOWN.

Wait for some good news once the rumble starts. One week, one month, heck I don't know. But when the up-turn starts, jump in the water. It is a pattern that has been repeated hundreds of times after a war.

I converted to cash months ago and am waiting and anticipating.

Except Lucent, still licking my wounds over that one.

For what its worth, my picks are Wal-Mart (god, I love a cash transaction) and of all things AT&T (gees, they could sell everything and still be valued triple what they are now).

44 posted on 03/15/2003 3:41:14 PM PST by AGreatPer (Support Our Troops)
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To: arete
"Brinker is very right wing BTW, and is going off on an anti France rant. Silly."

He was going to vote for Bill Bradley in 2000. Doesn't seem very conservative to me...

F*** the French...
45 posted on 03/15/2003 3:43:32 PM PST by rohry
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To: mombonn
We had our entire office waiting every week for his market letter to show up. One of our brokers was on the call list. He set up a plan for the office so every broker was notified within about 10 minutes. It was the single craziest day I've seen and that includes October of 87.

Our poor wire operator! That was still in the days of the old clunky big metal keys and ticker tape that had to be wound every night. What a mess.
46 posted on 03/15/2003 3:47:32 PM PST by terilyn
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To: Cicero
I thought he was a moron too in January 2000 but he was right on the money in his call to GET OUT! I never got in so don't really care...but I've been dollar cost averaging all the way down. You should at least pay a little attention if to see the results of his prediction if nothing else.
47 posted on 03/15/2003 3:51:02 PM PST by TatieBug
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To: Partisan Hack
He went on to say that all of the sellers are out of the market and he sees considerable upside gains from here.

HAHAHAHAHAHAHAHAHA!!!!!!

I have been shorting S&P futures for 18 months. During that time there have been Dow gains of 450, 375, 410, 297 pts and many others. All have been followed by day after day, month after month of steep declines. Wed-Thursday's decline was a simple oversold squeeze and high-VIX reversal. The October lows will be tested and exceeded. Markets which have been hit as hard as this one has historically bottom only after absolute capitulation followed by disinterest as the market bases over the course of months or even years before starting up again.

Brinker is an idiot. I stopped listening to him when he started bashing Republicans 2 years ago. Now he does it nearly every week. If you are satisfied with 5-8% growth per year, enjoy Brinker. If you want your account to look like a Brinks Truck, then trade futures and forget the crowd.

48 posted on 03/15/2003 4:01:26 PM PST by montag813
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To: rohry
He was going to vote for Bill Bradley in 2000. Doesn't seem very conservative to me...

Running against whom? I've listened to Brinker and he sure doesn't sound like any liberal I know.

Yes indeed, Forget the French.

Richard W.

49 posted on 03/15/2003 4:26:09 PM PST by arete (Greenspan is a ruling class elitist and closet socialist who is destroying the economy)
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To: southernnorthcarolina
You mean ... he's the Metamucil of Wall Street?
50 posted on 03/15/2003 4:27:15 PM PST by DeaconBenjamin
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To: arete
"Running against whom?"

Algore...

Maybe I'm wrong but people say that he was voting for Bill Bradley in the primaries in 2000 (I wasn't listening to him after I got out of the market)....
51 posted on 03/15/2003 4:44:43 PM PST by rohry
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To: rohry
Actually, I don't know where he is for sure. I do know that he is anti gold so I see all he says through that prism. He's a paper asset man.

Richard W.

52 posted on 03/15/2003 4:55:26 PM PST by arete (Greenspan is a ruling class elitist and closet socialist who is destroying the economy)
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To: arete
"He's a paper asset man."

Well, his sort lower property values, don't they?
I mean he's not really our kind of people; he'd feel more comfortable with his own.

Hey, wait a minute, my gold mining shares are paper! ;^0
53 posted on 03/15/2003 5:20:39 PM PST by headsonpikes
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Brinker's buy and sell calls have bee outstanding and when I have followed them, which is most of the time (I sold almost all of my stock funds at the high in 2000), he has made and saved me a lot of money. Ignore him if you wish, but don't say nobody told you when it's too late to benefit.
54 posted on 03/15/2003 5:44:10 PM PST by Iowegian
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To: headsonpikes
I mean he's not really our kind of people; he'd feel more comfortable with his own.

He supports the fiat currency system which is enough for me to be skeptical. I find it interesting that he wasn't alone in making his call. Jimmy Rogers and Biggs did also, and even the little guy out in Chicago on FOX this morning said he closed out all his short positions. Something odd here.

Richard W.

55 posted on 03/15/2003 5:55:03 PM PST by arete (Greenspan is a ruling class elitist and closet socialist who is destroying the economy)
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To: Partisan Hack
Bad news for Willy Green.
56 posted on 03/15/2003 6:01:46 PM PST by Consort
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To: Partisan Hack
huh, your kidding? i listen to him out of WABC in NYC at times and he is down on everything.........
57 posted on 03/15/2003 6:05:15 PM PST by Sub-Driver
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To: arete
Brinker has not been kind to Greenspan in the last 3 years, in case you didn't know.
58 posted on 03/15/2003 6:06:10 PM PST by Iowegian
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To: Partisan Hack
Brinker told his subscribers to buy Nasdaq 100 Trust (QQQ) at 74. Recommended it very strongly, in fact. Whereupon it dropped straight to 20 over the next year and a half.

Do not rely on this man's calls.

59 posted on 03/15/2003 6:18:47 PM PST by Mr. Jeeves
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To: Fractal Trader
I'll place my bets on the imminent S&P 500 waterfall.
60 posted on 03/15/2003 7:36:37 PM PST by AntiGuv ()
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