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May 16, 2007



I liked your quote that, "we always get in trouble when we start chasing short-term gains." Why? Because it separates the professionals from the amateurs. Its the IBDers that get into high RSI stocks end up 30% down and panicking out that epitomize average losers. In truth the stocks are up big 'long-term' by the time they panic out, but it looks pitiful because of their chasing at breakouts and analyzing at consolidation. Cramer understands that and mocks the 'house of pain' claims by such short-sighted participants. I think it's instructive to analyze the $SPX and see how it mostly held the 150 moving day average and clearly held the 200 moving day average to hold the long-term uptrend during the last pullback. Short-term traders were punished by bad market data from faulty index average data. The top dogs know short-term cheerleaders are the closest thing to taking candy from a baby when short-term trends break.

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  • Cody Willard is the general manager of CL Willard Capital. Find him at TheStreet.com, the Financial Times, on TV, or even playing that rock n' roll.

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