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05/08/2021 Weekend Update

PostPosted: Fri May 07, 2021 5:39 pm
by Cobra
Up 2 weeks, next week has 76% chances to make a higher high so should still be some up rooms.

Re: 05/08/2021 Weekend Update

PostPosted: Sat May 08, 2021 11:39 am
by Al_Dente

Re: 05/08/2021 Weekend Update

PostPosted: Sat May 08, 2021 12:53 pm
by Bman69
Hey Cobra, so as to follow thru, we gap higher on bad news and basically make no more progress for the day while tech shows weakness with end of day pump. Growth has obviously fallen way out of favor and I don't think will rebound all that quickly or will be much more selective lets say. Market caps are being assessed to sales, even future sales and those of 20x are going to have troubles appreciating considering the tough times and fed decisions ahead. Operation twist should be next thing we see from the Fed. HAGW, thank you and all others for the posts. Still one of the best blogs out there.

Re: 05/08/2021 Weekend Update

PostPosted: Sat May 08, 2021 1:17 pm
by Cobra
Bman69 wrote:Hey Cobra, so as to follow thru, we gap higher on bad news and basically make no more progress for the day while tech shows weakness with end of day pump. Growth has obviously fallen way out of favor and I don't think will rebound all that quickly or will be much more selective lets say. Market caps are being assessed to sales, even future sales and those of 20x are going to have troubles appreciating considering the tough times and fed decisions ahead. Operation twist should be next thing we see from the Fed. HAGW, thank you and all others for the posts. Still one of the best blogs out there.


I just said should still some up room. I didn't mean I expect big ups from here which really need some imaginations.

Re: 05/08/2021 Weekend Update

PostPosted: Sat May 08, 2021 1:21 pm
by Cobra
Al Brooks' one case (red arrow) is the same as my call for still some up rooms. I just eliminated Monday strong up and strong down cases as I don't think they're likely. I'm trying to be as concise as possible, no one has time to read my long long long statements everyday.

He now postponed his 10% pullback call to another 5 weeks which makes sense: An against trend call should leave a couple of months of wiggle rooms as it won't be easy to be right.

Re: 05/08/2021 Weekend Update

PostPosted: Sat May 08, 2021 1:40 pm
by Cobra
$AAII Bull - $AAII Bear up a little bit, not extreme so nothing interesting.

Re: 05/08/2021 Weekend Update

PostPosted: Sat May 08, 2021 2:00 pm
by Al_Dente
COMMODITIES UPDATE:
OIL STOCKS, GOLD MINERS, SILVER, COPPER+
[use other symbols as you wish]
5/7/21 Consensus view is that inflation will be with us for a long-ish time
Contrarian view, inflation will be “transitory” ... that view is held by the FED and recently Rosie Rosenberg
Daily
57commod.png.jpg

Re: 05/08/2021 Weekend Update

PostPosted: Sat May 08, 2021 2:14 pm
by Al_Dente
UPDATE on the “FOUR HORSEMEN OF A RECOVERY” (as nicknamed by SentimenTrader on 2/26/21)
Daily
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Re: 05/08/2021 Weekend Update

PostPosted: Sat May 08, 2021 6:12 pm
by JFR
Cobra wrote:Al Brooks' one case (red arrow) is the same as my call for still some up rooms. I just eliminated Monday strong up and strong down cases as I don't think they're likely. I'm trying to be as concise as possible, no one has time to read my long long long statements everyday.

He now postponed his 10% pullback call to another 5 weeks which makes sense: An against trend call should leave a couple of months of wiggle rooms as it won't be easy to be right.


Thanks for posting that, Cobra. It is very informative.

Al Brooks is a genius in his own right. I first heard about him right here on Cobra's forum, almost 10 years ago. I bought and read his 4 books in all their detail, and made my highlight markings and my notes. Brilliant of course, but very, very repetitive. With the first 5 minute chart of 81 bars that he presents, he jumps right in and analyzes every detail. And on it goes. So I did find his books overly repetitive, kind of beating each chart to death. But as I noted, in my opinion, he is a genius in his own right. Reading some more concise material on his methods, with his top setups, etc. I found easier to digest and integrate into my own way of thinking.

I am not promoting Brooks' books for purchase. I think most people interested in the stock market would find them too dense. But they have much value. And I do not regret reading them, and marking them up with a highlighter pen and notes of my own. LOL

2021-05-08_14-42-34.png


I do really enjoy reading the kind of Brooks' summary that Cobra posted. Very helpful.

Aside from Brooks' books, there are more concise pdf's of his setups and methods available on the internet. I find those useful.

Here is a link to a free pdf for those interested. Reversals. Final Flags. Breakouts. Et cetera.

https://vdocuments.mx/al-brooks-10-best-setups.html

And thanks again, Cobra for your wonderful forum. I think we do our best learning when we share our ideas. And thanks to all the other posters.

Example of Brooks' top setups. Breakouts. No surprise there. One "guru" calls breakouts the setup of last resort. Ha ha. I like them.

2021-05-08_15-14-45.png

Re: 05/08/2021 Weekend Update

PostPosted: Sat May 08, 2021 6:36 pm
by JFR
SPY daily. The slow moving, powerful tanker. Point and Figure.


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Re: 05/08/2021 Weekend Update

PostPosted: Sat May 08, 2021 7:19 pm
by Cobra
JFR wrote:
Cobra wrote:Al Brooks' one case (red arrow) is the same as my call for still some up rooms. I just eliminated Monday strong up and strong down cases as I don't think they're likely. I'm trying to be as concise as possible, no one has time to read my long long long statements everyday.

He now postponed his 10% pullback call to another 5 weeks which makes sense: An against trend call should leave a couple of months of wiggle rooms as it won't be easy to be right.


Thanks for posting that, Cobra. It is very informative.

Al Brooks is a genius in his own right. I first heard about him right here on Cobra's forum, almost 10 years ago. I bought and read his 4 books in all their detail, and made my highlight markings and my notes. Brilliant of course, but very, very repetitive. With the first 5 minute chart of 81 bars that he presents, he jumps right in and analyzes every detail. And on it goes. So I did find his books overly repetitive, kind of beating each chart to death. But as I noted, in my opinion, he is a genius in his own right. Reading some more concise material on his methods, with his top setups, etc. I found easier to digest and integrate into my own way of thinking.

I am not promoting Brooks' books for purchase. I think most people interested in the stock market would find them too dense. But they have much value. And I do not regret reading them, and marking them up with a highlighter pen and notes of my own. LOL

2021-05-08_14-42-34.png


I do really enjoy reading the kind of Brooks' summary that Cobra posted. Very helpful.

Aside from Brooks' books, there are more concise pdf's of his setups and methods available on the internet. I find those useful.

Here is a link to a free pdf for those interested. Reversals. Final Flags. Breakouts. Et cetera.

https://vdocuments.mx/al-brooks-10-best-setups.html

And thanks again, Cobra for your wonderful forum. I think we do our best learning when we share our ideas. And thanks to all the other posters.

Example of Brooks' top setups. Breakouts. No surprise there. One "guru" calls breakouts the setup of last resort. Ha ha. I like them.

2021-05-08_15-14-45.png


I don't think his setup has high winning rate though (I bought all his books and his video so I have his setup video). So I appreciate his idea of reading the chart only.

Re: 05/08/2021 Weekend Update

PostPosted: Sat May 08, 2021 9:32 pm
by JFR
Don't get me wrong. I love Al Brooks' methods and stock market ideas. But he can be an acquired taste, and, even then, he is not for everybody.

Gonna tease a bit now. Here is page 1 of one of his books (After a lengthy section on how to read his books. Ha ha).


2021-05-08_18-10-09.png


I had a teacher friend who was really quite funny. He said that with some difficult material he could see students' heads hitting the desktop, as they gave up hope. Ha ha. A first page like that could give some people a sick look on their faces. Ha ha.

Here is another page from that Brooks' book.

2021-05-08_18-10-37.png


OMG, an actual picture. Ha ha

Another successful guru, Adrian Manz, tried to get a stock market book, that was filled with mathematical formulas, published. He was told that no one would read it. So Adrian made his books much lighter on words, heavier on pictures, and very easy to understand.

Any favorite stock market books out there? I have a number of favorites.

And, as I said, don't get me wrong, I really like Al Brooks' methods and stock market ideas. He admits that many find his books difficult reading. As a person serious about the stock market, as the covers of his books welcome, I did the homework, and it was worthwhile.

2021-05-08_18-29-56.png


I actually like the first book the best. So there ya go ...

Re: 05/08/2021 Weekend Update

PostPosted: Sun May 09, 2021 9:52 am
by BullBear52x
From"It is what it is Department" Market is at Climatic/Euphoric state = Complacent state. now that we are all booked up, lets review the BASIC. Trend following dip will be bought (swing trade). short term counter trend at overbought/oversold area (Traders)
Daily Classic sell the rip signal. Negative Momentum + overbought. best is to wait for RSI (5) reverses back down under 70.
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Megaphone TOP side. Broadening chart pattern is when the trader look for reversal. that is now.
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Short term trade, this is known as BB52X Honey hole area out side BB. where the honey is. no honey no money :D Keep it simple when the chart try to talk from both sides of its mouth to you. Peace!
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Re: 05/08/2021 Weekend Update

PostPosted: Sun May 09, 2021 10:11 am
by BullBear52x
Look at FANGie, not much talk about it any more, time have changed. :)
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But we have TSLA now, sure, after 40% hair cut and still 25% from ATH, :twisted: point
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Apple, right shoulder seems to be forming here :idea:
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Re: 05/08/2021 Weekend Update

PostPosted: Sun May 09, 2021 10:27 am
by Trades w 2 Cats
I have been using the concepts of Al Brooks simplified and distilled down. You can see it in my marked up charts.

This method has been around but the guy who provides the information lives in Oxford Mississippi and does have a strong drawl, uses few words, uses simple words and speaks like someone who is in church every week. The polar opposite of the CNBC crowd. His four times a week free market recaps (every stinking set up on a 2,000 tick chart with agonizing over should you or should you not have taken the trade) are oriented towards newer chart readers. He keeps saying this takes several years to learn. Yes he does provide live trading examples. At one point he posted a four year period from Ninja Trader showing a long term 75% win rate. Watch Thursday's recap and see for yourself.
https://www.youtube.com/results?search_ ... dingsystem

Futures Trader 71 teaches the same sort of a thing but with a huge emphasis on order flow and volume profile. I find that information to be very helpful. So helpful that I am paying his quarterly fee to import the significant levels every morning into my chart. Now he is very clear that he would prefer if you did your own analysis and came up with the levels but for now, I just want them (the grey lines on my charts).

Recently, as you all know, I have been going down a new to me rabbit hole on flow. When Charlie McElligots letters from Numara started showing up on Zero Hedge I started looking for additional info on Gamma pining. That seems to be a Twitter thing. There are some paid services but since I am not a position or multi day swing trader I have not seen the value to me. It has become clear that Softbank and others cough Elon cough have used options to manipulate the market after cornering the float on stocks so I think it is important to understand how and when these tools work, just like quarter end window dressing and pension fund rebalancing.

Re: 05/08/2021 Weekend Update

PostPosted: Sun May 09, 2021 11:44 am
by marcueus3

Re: 05/08/2021 Weekend Update

PostPosted: Sun May 09, 2021 7:41 pm
by JFR
ES 5. Picking up where it left off. Bumping up against resistance.


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