Let’s do a bit of “Q&A” action today
QUESTION: You are calling for a big stock market crash. Should I sell everything and go to cash or gold?
COURTNEY: No! Not yet! We are still in a bull market so the money will be made on the upside.
There have been many gooroos calling for a massive crash for years. So they got all their clients to get out of stocks and into cash and gold. Their clients then missed the biggest bull market in history! So the gooroos cost their clients massive amounts of money. Think of all that money compounded!
We must look to the future for a major crash in about a year but we should continue to hold and invest in the market for now because it’s a bull market and our job is to make money.
So we own stocks now and get out later. In fact, we will go short when the time comes and make a lot of money on the short side.
Don’t worry, there will be plenty of advance notice. I’ll keep you posted in Wall Street Winners.
QUESTION: Is it possible for the little guy to make money in the stock market?
COURTNEY: Yes! We are in the Golden Age of the Little Guy.
I worked for 25 years on Wall Street for big institutions. At the time, I thought that working for big institutions was a big advantage because we had real time quotes and news and could execute trades quickly.
Now, those advantages have basically disappeared.
We have the same real time quotes. They might get news a little quicker. But we can execute trades quicker or the same as the big boys.
We retail traders have one major advantage over the big institutions. We don’t have to trade. They have to trade every day. Traders have to trade what they are told to trade every day even if there is no trend or action.
We can go where the action is and ignore boring markets. We can trade Google one day and soybeans the next! We can use any instrument we want. We have incredible flexibility. And we can stop trading whenever we want.
Big institutions have to keep trading every day with the pressure of a large overhead.