GAry K 03.26.08

I've also updated the weekly sector spreadsheet for the daily activity for the last three days. Note that coal stocks are breaking out again (along with the rest of the sector). You can find it here.

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Here is a summary of Gary's comments from 03.26.08 show.

He's doing some self-flagellation. HE was wrong on his "oil is going down call" on Fox's Sat. TV cast. (This is why I like Gary so well--if he screws up, he tells you. He's an honest commentator).


Opening Remarks.

• Be wrong quick, be wrong fast. Acknowledge it and move on.
• Lessons learned:
• On buy outs--if you are in a stock that is getting bought out, take your money.
• Laments about the WSJ talking bullishly about ORCL knowing that it was reporting after the market + a couple of analysts saying own it before earnings. Calls it a silly bet.
  
• 
  
• Goes through the market action (oil up/financials down).
  
• USD--another day of swoonage.
• Not a pretty day. Strength in oil, steel and commodities with the USD falling.
• Up down volume putrid.
  
• Do not treat this market as a monolithic day.
• We are on a follow through. He dips his toe into the water because that is part of his strict rules and discipline.
  
• There will be a point in time that when it works we will have a grand, glorious bull market.
• Not every follow through has led to a bull market, but every bull market has had a follow through day.
  
• If I lose a 1% or 2 probing into a follow through day, it will be offset big time.
• Even though I've been pretty correct, it has not been easy; it is no fun.
  
• Anyone that tells you that a bottom has been put in is guessing.
• Protect capital!

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Caller asks about C. He's negative on C.

2000-2015 - discusses the article about WSJ stocks tarnished by lost decade. He talks about his mentioning this in 2001 and having caught a lot of flack about it.