|What would it be worth to you to be able to have a face-to-face with a top notch trader or technical analyst over lunch or dinner? Folks have paid hundreds of thousands for such an opportunity with the likes of Warren Buffett. |
Imagine asking Marc Faber, editor of "The Gloom Boom & Doom" report what he is buying or selling and where he sees markets going. Or asking Bert Dohmen, author of the "Wellington Letter" and who accurately predicted the 1987 stock crash and 2008 financial crisis, when markets will get back on track and what asset classes will perform best?
|Or what if you could chat with record-holding stock trader Dan Zanger, host of ChartPattern.com and author of the "Zanger Report," who parlayed $10,775 into $18 million in less than 18 months about what he's buying and selling today and where he sees the best opportunities for making money over lunch? I've had the pleasure of dining with Zanger and his knowledge of food and wines is just about as impressive as his stock expertise and knowing where the greatest opportunities exist for making money in just about any market.|
|These trading icons and a number of other industry giants are up for bid at this year's Market Technicians Association auction. The list also includes Jeffrey Hirsch, editor-in-chief of "The Stock Trader's Almanac," Michael Covel, author of "Trend Commandments" and "The Complete Turtle Trader," Phil Roth, chief technical market analyst at Miller Tabak, Cynthia Kase, head of Kase & Co., Ralph Acampora, director of technical analysis studies at the New York Institute of Finance, and John Bollinger, creator of the well-known bands that bear his name.|
Zanger is my top pick, especially given the type of market we're in. His calls of late have been right on the money which you can track on his DanZanger page at Twitter.com.
|He started advising his subscribers to take profits in silver in April as the Proshares Ultra Silver ETF AGQ went parabolic. Here is what he said in his April 25, 2011 newsletter:|
"Gapping up $23 at the open attracted strong selling interest on record volume... The leading averages rested today while a number of recent selections noted here moved up as much as $8 each. The market seems like it needs a rest..."
In his ChartPattern.com chatroom the same day, he advised additional caution after when one of his signature warning patterns, which he calls a naked bar, appeared when price ran up strongly during the day and then closed well off the high. He commented:
"Locking in some profits on a big gap after a run like this might not be a bad idea."
As we learned in early May, the run was over and both silver and AGQ dropped hard.
Then on July 27, Zanger began advising members that cash was the best option given current market conditions and the "ineptness in Washington" as politicians haggled over the debt ceiling. He has remained cautious and mostly in cash since then.
The good news is that there are signs that some sort of bottom could be coming, as Figure 1 shows. But as Zanger suggests, the S&P 500 needs to establish solid channel support and a decisive break above 1230 before getting long.
|FIGURE 1: ZANGER, DAILY. This chart from Dan Zangerís Twitter page shows a hopeful sign in the S&P 500 that could spell some respite in the bear market.|
|Graphic provided by: http://ChartPattern.com.|
|Bidding for Zanger or any of the other participants is available at the MTA.org website at http://goo.gl/wDYjc.|
|Garibaldi Highlands, BC Canada|
|Phone # for sales:||604-898-9069|
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