Mark D. Cook: SELL

not sure about u guys but there was a "flash" bearish signal from google a few months ago at around ~ $300... since we're back at that level i am thinking the rally is over.

 

So, somebody's proprietary indicator

"has been known to fail"

BUT

"it is a very high probability setup".


WTF does this mean?

 

I'm not a great artist, but I feel following is possible weekly trajectory for YM.

 

is Linda Raschke's tick indicator similar to mark cooks?

her LBR Summation Tick does not
look overbought presently ....

www.lbrgroup.com

 

It means don't bet the house on it.

I'm sure Mr. Cook is an awesome trader but letting others know (besides close colleagues) that the market is "overbought" is not smth a true professional trader does. So I doubt he is betting heavily on it.

Being that the overall tendency of this lame market over the past 2 years has been to chop in channels indecisively, I easily see the S&P pulling back to 1200 or even a bit below. Just put up a 6 month chart and connect the lows. I'm sure after a few down days, most of ET will be screaming that the market is crashing and the super bear is in.

I would not short just because of the short squeeze factor thanks to this trader heavy market & PPT. No reason to really buy it up either since the true bag holder investors are not active.

 

I'm not 100% but I don't think so. Cook ignores readings that are 'neutral' while Linda's seems to consider everything.

Oh and coasting, may I suggest a basic English comprehension course?

 

It's clear now. So if the market was "overbought" Mr. Cook would identify this conditions using his superior and proprietary indicator but wouldn't tell anybody other than close colleagues. That's clear. Now since he put his statement out on the web it must mean one of two things. (1) the mearket isn't really overbought but Mr. Cook wants to influence/mislead other less capable traders such as those at "Elite" or (2) Mr. Cook is not a true professional.

To sum it up it appears to me that this is yet another useless piece of information.

 

Stop posting garbage, the board has enough of this trash as it is.

 

coasting, when you become a mkt wizard then piss all you want on your peers...until then zip up.

 

Oh I see, it's the "market wizard" thingie that's got your juices going. Why don't you say so?

I too have indicators that give high probability signals but they are also known to fail. But the difference is that I am no market wizard.

I am a pinball wizard though, does that count?