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Well John
"The behavior of the specialists does not lie" Richard Ney
4. Why were most TA people pointing their indicaters down on Fri.?
My wall street sailing report was pointing in one direction up.
what the site says is below.
Forecast for July 5
The numbers are in and inventory is six while setups are 9:0
The Captian is looking for substantial gusts towards the north to
the next marker.
Happy 4th
For July 3 we forecasted... The patterns of the inventory level and
setups are what one sees as the ship is making a wide turn near a
marker. As forecasted prices went a few points past the marker ...
(location posted hours before to the email group) ...... and turned
to avoid the sand bar...(Sent out to free email yahoogroup while
occuring). As you know a 11:1 setup ratio is positive for upward
prices. This drove northbound winds after prices turned to avoid the
sand bar. Near the end of the day we saw the high long setup
numbers...with a neutral inventory move prices through a minor sand
bar, that otherwise might give significant resistance.
Forecast for July 3
The forecasted up move in the morning .......based upon 6 only long
setups was weak. Prices continued south most of the day.. Inventory
has come up in the last few days and is now at 9.. Along with the
short set up numbers being about as low as they can get....... this
would suggest that new shorts are not being put on. For tomorrow the
long set up vs short set up numbers are 11:1.
The patterns of the inventory level and setups are what one sees as
the ship is making a wide turn near a marker .
Enjoy Independence Day.
--- In realtraders@xxxx, John Cappello <jvc689@xxxx> wrote:
>
> 1. What makes anyone think that a rally as significant as Fri. was
> just short covering?
>
> 2. What makes anyone think that Hurst Channels will be anything
more
> than just another indicater given the amount of work put into it.
>
> 3. Why should Norm offer more sound advice than he already does at
no
> charge?
>
> 4. Why were most TA people pointing their indicaters down on Fri.?
>
> 5. Why do people seem to think that the ability to program
correlates
> with coming up with sound ideas that are useful for real time
trading?
>
> 6. How can pitchforks be reliable when they are so dependent upon
the
> eye and perception?
>
> These are just a few questions I have had after seeing so many
posts
> on these subjects.They are meant for educational purposes of
myself
> and perhaps others. I have more, but they can wait.
>
> John
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