How to be Biased and Lose Money
I would strongly advise people to not take trading advice from this blog or its commentators. My account has taken losses following Tim Knight's trades and bearish bias. As a user of ProphetCharts, I made the mistake of believing Tim Knight was a serious and experienced market professional.
Tim is essentially a diehard permabear who manipulates charts to show his readers that we are on the verge of another crash. I think Tim serves his readers with bearish news and interpretations as it is what keeps his view count and ad clicks turning. Listening to Tim, kept me short for much of this rally. I do take responsibility.
Tim is clearly very intelligent, so I don't think he believes in the drivel he writes and instead manufactures material to suit his readers' tastes and keep them distracted from the fact that he has been consistently bearish during a 100%+ rally in all major indexes. He fans their hopes with enigmatic predictions of Dow 6000 in the future and similar dire predictions. If technicals fail him, he becomes a fundamentalist, when fundamentals fail, he becomes a currency expert, when that fails he becomes a monetary expert.
The one part I initially appreciated about Slope of Hope was Tim's honesty about his wins and losses. However, he seems to have abandoned this approach as his band of readers believe whatever he says. Its normal after an up day for Tim to talk about his longs even though the day before he will have been 90% short. Of course, on down days he will ignore his longs and talk about his shorts. He has to keep up the illusion of a successful trader or people will stop visiting his blog.
Other than Tim's deception towards readers, the other disturbing part is his glee in bad employment reports, poor corporate profits, and losses taken by others. I believe its a reflection of a broken spirit, abysmal trading record, and bad childhood and/or family life. Any day, the market is down he amateurishly taunts the bulls with vulgar language, all the while he comically claims to be a hedge fund manager in between begging readers to click ads.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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