Lately, the pundits have been saying that Hope is not a strategy.
Well, is Hate a strategy?
Karl Denninger, called Dennis Kneale an idiot in his post here and stated the following
Finally, on your so-called "Golden Cross"; for it to be valid the 200MA and 50MA must be rising. The 200MA is falling; ergo, it is a false signal.
Conveniently, Karl left out the most important aspect, supporting data.
Well, I just happen to have some.
The Golden Cross occurred around June 23 around 900.
One week later, June 30 SP500 closed at 919.32. (CHECK)
One month later, SP500 will still perform better than the average data. (ANOTHER CHECK)
I just find it ironic that one idiot would call another an idiot.
Trust me, I know how that feel and have posted here.
If I were keeping score, then Karl = 0 and Dennis = 2.
Unfortunately, I was not able to find any specifics on the assertion, i.e. time frame.
However, I will revisit this at the 3mos, 6mos, and 1yr mark.
There seems to be a lot of haters out there, which I don't really understand.