Mark D. Cook: SELL

I just read that Mark Cook has said his proprietary cum. tick indicator has flashed a major sell signal.

(see Schwager's Stock Mkt Wizards for indicator discussion)

“At this juncture I am seeing the potential for the US market to go into a free fall … the Cook cumulative tick is the most overbought since December 1999. I spoke at a conference in New York in February 2000. I warned the crowd that this market was going to get crushed. I had two dozen people walk out on me. I said, if you are in this market get out now … right now it is the same type of market. It is like the bear rally in 1929 before the October crash.”

This is a huge deal guys. Cook is one hell of a trader and this is one of his most reliable indicators. Make of it what you will.

 

hi. how'd u hear about that rumor?

 

you sell short first. :eek:

 

I do believe that Cook himself has stated that his indicator is early to the game.

Love his interview in MW`s...fantastic

 

thanks Babak

 

To those not familiar with it, Cook's cum. tick indicator is an intermediate signal (weeks and months). It may be a little early but it usually isn't that early.

It has been known to fail but it is a very high probability setup that happens a few times in a year.

Anyway, I'm just the messenger. Think for yourself and do your own analysis. This is just for informational purposes, not a recommendation to buy/sell/short.

 

Big Thanks!!


I just remember seeing a recently updated chart somewhere on the net referencing the cummulative tick

wish I could find it again... will keep looking

 

Thx...much appreciated. Do you have any idea how his trading is going these days? Still focusing on buying index options?

 

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Babak
1] Thanks and do you have a link for that???????

2] Actually Mark Cook is one of my favorite stock/option traders;
have several of his principles in my plan.

Not to take any thing away from your interesting post!!!;
3]Dec 99 SPX/SPY was a good warning and also interesing ,the real technical damage was October 2000,10 months following.

4]May not be important at all, but the stuff am long now tends to outperform SPX/SPY ;
also interesting was in both of his examples , the real damage was in October, [and later]

Not a a prediction.

 

Was able to locate the link again:

http://www.businessday.co.za/articles/markets.aspx?ID=BD4A78662