Ben Shannon on his misguided SELL stock market call delivered just before the stock market rally

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Ben Shannon on his &#8220-SELL&#8221- market call

Previously: Wiser Than The Stock Market &#8212- NOT

UPDATE: Andrew Page + Henry Blodget

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Wiser Than The Stock Market – NOT

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Ben Shannon (alias &#8220-Jesse Livermore&#8221-, who blogs at &#8220-Wiser Than The Crowd&#8221-) claims on his blog to have an uncanny ability at forecasting the future and profiting from it, whether it is speculating on InTrade&#8217-s prediction markets or on the US stock market. Here is his stock market call from July 10, 2009:

SELL SELL SELL

REALITY CHECK:

The stock market is up about 12% since Ben Shannon&#8217-s &#8220-sell sell sell&#8221- call on July 10th.

Spot the 10th on the chart&#8230- Ben Shannon sold the exact bottom immediately before the rally.

ben-shannon-stock-market

Thanks to Deep Throat for the tip.

UPDATE: Ben Shannon on his &#8220-SELL&#8221- market call

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Barack Obama has chosen Mary Schapiro, chief executive of a non-governmental regulator for securities firms (Financial Industry Regulatory Authority), to chair the Securities and Exchange Commission.

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What a great pick.

Out of the gate, Ms. Schapiro faces potential controversy. In 2001 she appointed Mark Madoff, son of disgraced financier Bernard Madoff, to the board of the National Adjudicatory Council, the national committee that reviews initial decisions rendered in Finra disciplinary and membership proceedings. Both sons of Mr. Madoff have denied any involvement in the massive Ponzi scheme their father has been accused of running.

What a visionary regulator: inviting the fox inside the chicken house, that&#8217-s clever, indeed.

Jason Ruspini, will Barack Obama replace the CFTC head, too?