I totally agree. though, I don't pay attention to "tops" or "bottoms." I try to trade what is, and whatever happens. hey, what can I say... sometimes it works out. ... kinda like having sex after you've misplaced your viagra bottle. hey, it's 3:00AM - I'm supposed to be sleeping!!
Babak ....you reported an old interview.... "you have just read what he thought about the market five years ago?" Would you please to provide a link on what M.Cook thinks about the market today?.... In other words you mention an old article..but you don't give us the link of WHAT YOU HAVE JUST READ! TIA Q.
Q, read a bit more carefully. Mark is remembering his 2000 experience and saying that the current situation reminds him of that time. Its an excerpt from a recent interview. Also I provided a link in the thread. Next time, spend 2 minutes reading the thread. coasting, his formula for the CCT is known. He mentioned it in his interview with Schwager.
Well....I would like to read this recent interview, entirely, if it is possible! You provided the link of the Cook's web site ...but it is under construction... Q.
Since it's so well known why don't you post a picture of the CCT against the SPX from year 1999 to now so we can see what you are talking about and save the wizard talk. Where is the meat? Man I am getting too old for this
I try to seek understanding, not just follow an indicator or whatever blindly. And I was thinking about this again and eventhough I'm not sure if Mark has considered this... the 'pollution' of non-operating companies in the NYSE might be wreaking havoc with his indicator. I mean that just as the AD line is now screwed by these bond like securities, the same tampering could be happening with the NYSE TICK. Just a thought.
http://www.thestreet.com/p/comment/nickgodt/10238966_2.html Tops Are In This week's action was really a continuation of the downturn the market's began in early August. Aug. 3, to be precise, was when the S&P 500 hit 1245.03. That's an important number to remember, because according to market guru Woody Dorsey, that will be the high for the year for the broad index. "That was the print," says the founder of Market Semiotics. Ditto for the other main stock averages, Dorsey says. The Nasdaq topped out at a four-year high of 2218.15 on Aug. 2. As for the Dow, its recent top was at 10,705 on July 28, although its high for the year was at 10,940 on March 4. Since these recent tops, the indices have been falling back, mostly at a snail's pace -- coinciding, once again, with the predictions Dorsey made previously. The S&P 500 has fallen 25 points, or 2%, the Nasdaq has given back 83 points, or 3.7%, and the Dow has fallen 145 points, or 1.3%. And things are about to get worse from here.