slopeofhope.com is underwhelming and overrated
Aa frequent reader of Tim Knight’s slopeofhope stock trading blog I have noticed a trend, which is that very little if any of Tim’s ramblings actually help his readers make money in the stock market. He has a unique methodology where using funny log charts, shade-ins and lines he describes what could happen, but not what will. This isn’t useful because obviously in the stock market anything could happen. The dow could go up 1000 points in a single day, although this is exceedingly unlikely. By avoiding making any specific predictions or recommendations Tim can avoid ever having to admit being wrong, yet he will take credit in the unlikely even he is ‘right’.
He will write, for example, ‘the chart shows that a break above the neckline is possible’. If it does break above the neckline he will congratulate himself, but if it doesn’t he will never speak of it again.
Also, his recommendations are too complicated and arcane. When I tell people to buy EWZ at $72 anyone with an online trading account can do this. But Tim’s vague, vacuous advice is far more difficult to act on, which is why his blog isn’t helpful at actually making moeny in the stock market. EWZ has surged nearly right percent since I recommended it on my blog, where as Tim’s confusing recommendations are all over the map.
Nevertheless, that doesn’t stop thousands of loyal readers from lauding over his every word. True, his blog is a trading blog versus an investing blog, but it doesn’t do anyone any good if you can’t make any actual money with his advice. Maybe in time his readers will realize how his blog isn’t very useful and consider alternatives such as iamned.com and others.
13 Responses to “slopeofhope.com is underwhelming and overrated”
Comment from michaelD
Time February 2, 2008 at 6:25 pm
you are incorrect … many a time tim has pointed out his own errors, flaws, and losses. he seems to do pretty well at it, as do many of the readers of slope.
i can think of a couple of contributors there in particular who are pretty uncanny at nailing index and equity movements using their ‘funny charts’. when they’re wrong, they say, “i was WRONG!” perhaps you could learn a small lesson there ….?
it does after all take TIME for these things to come to pass. i’ve seen more than one instance of tim posting prediction like that, with a follow-up days or weeks later reminding of the previous and pointing out whether the pattern completed or not.
sounds like you should be spending less time on slope and more following the sycophantic ‘analysts’ around … you know, the ones who do such a stellar job on THEIR stock picks and get paid millions of dollars for lousy jobs done. tim does his for free because he enjoys it. a nice little community has built up on his site. we learn … from each other … from our mistakes and our successes.
i don’t often say things like this to people online. after all, we all have opinions and each is as valid as anyone else’s, but here goes:
YOU’RE AN IDIOT. when you know what you’re talking about, feel free to speak up. until that time, my experience is that we learn more with our mouths shut. you might try it.
Comment from Greg
Time February 2, 2008 at 7:15 pm
awww.. someone is jealous Tim\’s blog is getting much more attention, while your blog rots in desertion since noone wants to listen to your bullshit and rambling that does not make any sense, let alone help anyone make money. Have you ever wondered WHY Tim\’s blog has so many loyal readers? If his blog was so unhelpful, WHY is his reader base only keeps growing, and most of the readers keep coming back everyday?
Comment from Anonymous
Time February 2, 2008 at 7:21 pm
Ned, or whoever the hell the dumb author of this blog is, is a fucking retard.. Instead of spending time researching the market and maybe reduce his losses, he pitifully attempts to insult other blogs that are much more popular, and thus obviously much better that his stupid creation..
Comment from Administrator
Time February 2, 2008 at 11:42 pm
I’m just presenting an alternative viewpoint. There is no question his blog is very popular, but does it help people make money is the question I’m asking. People sure do take offense easily to criticism.
Comment from Fatso
Time February 3, 2008 at 12:45 am
Dear Sirs,
I’ve made money applying Tim Knight’s charting principles.
Thx,
Fatso
Comment from iamned
Time February 3, 2008 at 2:53 am
I’m down about 10% for the year.
Comment from Jack Rack
Time February 3, 2008 at 4:32 am
“If his blog was so unhelpful, WHY is his reader base only keeps growing, and most of the readers keep coming back everyday?”
Greg, that’s not very good logic. Some of the worst blogs don’t help people at all (Johnchow.com, johncow.com, etc.) but grow in popularity anyway because the person promoting them is smart, and the reader base is naive.
Looking at graphs and charts and trying to become an expert who can time the market will NEVER happen by reading Tim’s blog. Graphs and charts are nice, but understanding an industry is better. I didn’t even look at Yahoo’s charts with much detail but bought it as soon as I saw Gates on CNBC last week say he was going to “seriously challenge” Google in search. Not possible to do w/out him buying Yahoo. You’re better off understanding an industry and making stock picks based on your understanding of it than trying to find patterns in graphs.
Comment from iamned
Time February 3, 2008 at 4:48 am
Jack, at a certain point it becomes futile trying to argue or reason with the true believers. They will always resort to adhominem attacks when threatened and reuse the same arguments. The bluehatseo and wickedfire sycophants are as ardent as the slope of hope ones.
Comment from Jack Rack
Time February 3, 2008 at 6:10 am
Haha, maybe more so. It seems pretty easy to bait whining slopehope people here.
Comment from John Burl
Time February 4, 2008 at 12:12 am
Nedsie, After reading your comments on Tim’s website, I was curious to learn more about you. After a cursory examination of your site, I was impressed by your inane and unsubstantiated commentary on the markets, etc… I would highly recommend your site to anyone in need of a comic relief at the end of a tough trading day!
Comment from Administrator
Time February 4, 2008 at 12:21 am
Trading doesn’t have to be tough if you buy EWZ and kick back. My blog helps simply the process because making money in the stock market should be easy.
Pingback from iamned.com Blog » Stocks for the ‘New Era’ Part 2
Time June 15, 2008 at 7:11 pm
[...] ETFs and hold them for awhile you will make MUCH more money MORE QUICKLY than you would reading the nonsensical jargon on slopeofhope, or any other financial blog or [...]
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Comment from Anonymous
Time February 2, 2008 at 6:07 pm
really ewz surged right percent??? that’s alot good pick. you idiot