Peter Schiff
October 11, 2008 – 6:54 pm
12 Responses to “Peter Schiff”
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I saw Schiff on Fox Business News yesterday after the close, and for the first time, I completely disagreed with him.
I think he’s becoming confused and sounding retarded because commodities are doing the complete opposite of what he said would happen at this time. Who the fuck is he kidding, China is more fucked than America. It’ll be that way 20 years from now too.
October 11th, 2008 at 7:51 pmDonny,
I don’t agree with every thing in his radio show, but he made some pretty valid points.
what have you been buying lately? I’m liking Fly’s pick TBT.
October 11th, 2008 at 8:06 pmShciff used to live in Orange County (my home town) … I remember reading an interview of him in my local paper before he became popular … 6-7 years ago. He was on top of this housing bubble in its infancy. He was one of the first media types to open my eyes to these fucking asset bubbles when I started trading. He was right about this massive ponzi scheme. With that said, he’s wrong about commodities, China and now the dollar. I bet you he has lost a boatload of money the last 3 months.
You know it’s possible to be lured into believing you’re always right, even as things start to turn terribly against you … you keep looking in the mirror. When you are unwilling to compromise and recognize you may be wrong, it can kill you if you’re an investor or trader. In a market like this, you must be willing to throw your perceived convictions out the fucking window, or you can die. Schiff is not doing that, and thus sounding silly now.
On Friday I bought 1500 SSO at 3:15, 1500 SSO at 3:30, 1500 SSO at 3:45. That’s my only position.
I don’t know anything about TBT.
Good luck … we’re all gonna need it next week.
October 11th, 2008 at 8:42 pmI think there will be a little something for both bulls and bears next week, probably 3 or 4 times a day with this volatility. Daytrading is the only way to go with this type of market unless you are younger than 35 and dollar cost averaging mutual funds or etfs for the real long term. Swing trading is dangerous. Wake up, turn on the computer and one could be a hero or a goat while asleep.
October 11th, 2008 at 8:52 pmTC, I just turned my TV off.
October 11th, 2008 at 9:04 pmI am watching Rays-BoSox game for awhile myself. This is the SEC so who knows what will happen (next week). Just ask Ole Miss.
October 11th, 2008 at 9:10 pmRC … I’m assuming you’re for LSU?
No team can go undefeated in the SEC or the Big 12. It’s better to lose early.
October 11th, 2008 at 9:14 pmRed Sox have put up 3 homeruns in one inning….so far.
This game has 7 homeruns hit and its only the 5th.
Holy Shit.
October 11th, 2008 at 10:04 pmThe wind (air conditioning) is blowing out tonight at The Trop.
October 11th, 2008 at 10:15 pmWeird sports night. I tune into LSU@F and it seems LSU’s team bus is late, so Florida is just practicing running up and down the field. Turn to BOS@TB in the 5th and see that somebody told each team that a “pitchers’ dual” entails seeing which pitcher can hit the bat the hardest.
Odd, no?
October 11th, 2008 at 10:20 pmFinally they pull Beckett. WTF? They waited about 2 innings too long.
He just doesnt have his good shit right now.
October 11th, 2008 at 10:37 pmBama No.1 in the nation.Roll Tide!
October 12th, 2008 at 12:12 am