Feedback in from India:
Dear Michael, I am a great fan of yours and have gained many insights from your blog and books. It is with my good intent that I am writing this to you, I was provoked to see your comment on your blog that a bubble is being built on top of a bubble. Of recent, I am finding that your blog and posts are too occupied with your new film BROKE. I have not seen the film but do think that the timing is just not right. The trend (whichever way you calculate – 20/55 day breakout or any moving average or stochastic) all round the world (including the US/S&P/NASDAQ) is up. If you follow an extremely long term trend, you are facing a huge drawdown/heat. While it is too early to debate if this is a rally or a new bull run, I find that you are not paying too much attention to the underlying trend. This I think is because the trend now is counter trend your film. I reiterate that trend following is the only way to trade. Warm Regards, xxx, India
If you have not seen the film than it is hard to judge! The film is not preoccupied with this bubble or that bubble. It features trend following traders. You need to see it to gain an understanding. None of the film is fundamental based or does the film emphasize anything except following the trend. He responded to my clarification:
Dear Michael, Thanks for the prompt reply. I was not writing with regard to the film at all. I was commenting on the fact that your blog was now commenting more on the film rather than the present trend, which in my humble opinion is clearly UP (unless you are a very very long term trader). Thanks.
I am not arguing for this trend or that trend. That’s why seeing the movie will clarify that my film is exactly in line with my books. It is the only film available that actually has a trend following foundation as its base. Does the film have an accurate and provocative title? It does, but don’t let soundbites confuse you until you see it.
