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ajtj99

09/10/03 7:40 PM

#8331 RE: Zeev Hed #8324

BTW, Zeev, you had today pretty well nailed. Nice.

I don't like this high, as we left a multiple top on the Dow at or near 8600 (I won't say "triple top", but you know it's not a good top).

I don't like it either because we did not pierce the upper Bollinger Band on the Daily COMP and NDX chart.

We also did not have a spike high like we do at major tops.

Max Pain on the QQQ's is about 34 for October.

http://finance.yahoo.com/q/os?s=QQQ&m=2003-10-17

The set-up may be we're still in a running flat that concludes with a bang and final higher high in October.
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Justa Werkenstiff

09/10/03 7:56 PM

#8335 RE: Zeev Hed #8324

Good points. I don't have an opinion every day and I filter myself unless asked. But when I do offer an opinion, I have given it a great deal of thought. Looks like I nailed this top perfectly if it holds:

http://investorshub.com/boards/read_msg.asp?message_id=1401807

The high that day was 1879. The high of the move was 1888 right falling within the 1%. It does not get any better than that in calling a bubble top if it, indeed, was a top <g>.
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SteveO

09/11/03 1:51 PM

#8408 RE: Zeev Hed #8324

Oops--You were eavesdropping!!! <GGG>

Zeev, I personally think that you walk the line pretty well. The danger is that when someone throws out numbers without giving an idea or how they were derived it will prevent critical thinking. One is left with the option of either following the guru or not following the guru. Those that follow the guru become sloobering lap dogs. Those that do not become ankle biters. In your case, I actually think that the ankle biters are wrong.

Why, because I think that anyone who reads you regularly gets a pretty good sense of what is going on behind the curtain. You often do spend the time to give a background for your thinking. In your case, I was not really criticizing your style but just pointing out that even your style can cause less cautious readers to become either groupies or ankle biters. I do not mean for you to change your style. Just poitning out the inherent dangers even at your quite informative end of the scale. I do believe that you provide enough for your readers to think independently. I apologize for what clearly can be read as a scathing criticism of your work. In my brain, it was just a point of interest that even your well-informed thread generates ankle-biters and groupies because the turnips are proprietary. I should have said "Even Zeev's thread which does not throw out numbers but does use a proprietary system generates the same kind of ill will at times"

At the other end of the scale, things are far more dangerous to critical thinking IMHO. However, I must point out that even though Jeff's posts often gave me indigestion, they were quite helpful to my trading. :)

Best regards.
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otraque

09/11/03 2:05 PM

#8412 RE: Zeev Hed #8324

<<(and that is what I presume most systems consist of, forks with assigned probabilities), people will have to write a dissertation how they came about those numbers.>>. quite true, and if they do write a dissertation it becomes a market news letter and people pay 200/500 dollars a year to get it.
Plus the news letter has a staff to get it together:)
People must remember this is all for free.:) Max