Live from New York...
[email originally sent in Spring 2003]
I was listening to the radio on Sunday - "The Financial Show" - and I had to wonder, "how do these guys get a job giving financial advice?"
During my 30-minute exposure I heard the host instruct callers that a sound investment strategy was to buy the S&P on dips (using an Index Fund as a proxy). The example he gave was that "if you have $120,000 to invest, you should invest $10,000 per month by looking at the S&P daily, and putting money in when it goes down". And if it goes down A LOT, put more money in.
No talk of money management. No talk of what defines the S&P "going down", or going down A LOT. No talk of what to do if it goes down, and then continues to go down (and down, and down...).
Ladies and Gentlemen - this strategy would have cost you a lot of money over the past few years. And no doubt it did cost many radio listeners a lot of money, if not the bulk of their savings and investment capital.
And, this was being broadcast to NYC and the tri-state area (and one only knows WHERE else) on Sunday afternoon at 3:00.
If you have had a similar experience and are sick of listening to "investment gurus" and talk show hosts, you owe it to yourself to start the process of understanding and learning - understanding price movement and learning to make decisions for yourself.
Visit us at TRADEthemove.com. Information about our manual - "Using Moving Averages and Fibonacci Retracements to Help Predict Price Movement" - can be accessed from our "Home" page.
And, visit our "Discussion Board" to view comments and chart examples.
Regards,
TRADEthemove.com
TRADEthemove.com
...knowledge is power
