Another look at how traditional market timer get it wrong.

I hate to keep picking on Sam Collins but his calls are so obviously momentum based that I just have to point it out when I see it.  First off, this is not the first time I have mentioned the guy.   For example, I called him out in this post on AXP after he made the wild opinion that there was 20% upside in the shares.  I was laughing at him when the shares had hit 94 and had backed off to 89.  The did gain about $7 from there up to 96, not nearly 20%, before coming back down to $78 and then bouncing with the rest of the market back up to $88. The next move down will be a doozy.

Well, this time Sam is pumping Gilead Sciences, a Wall St darling.  Yes, his "trade of the day" is to make GILD shares a "cornerstone holding".  All I can say is that anyone buying this chart is a complete fool.  You SELL into the exponential Ponzi rise, you don't buy it!  Buying the exponent is a suckers move every single time!   This the equivalent of running a lure by the face of a bass under a rock in your favorite pond.  They come out snapping because they just can't stand to see it happen.   And that's when they feel the hook...

Maybe I'm off by 1 wave at the tip but all that ragged crap up there looks like a 4th wave to me that already completed and is now finished the 5th of 5.  Run away from GILD and don't listen to any stock pumpers that can't read a chart in order to get a wave count out of it.  If Collins knew anything he would know that the exponential chart can only be caused by massive leverage and leverage makes weak hands!  They will soon dump this shite into freefall just as quickly as the snapped it up in the first place.