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I just said should still some up room. I didn't mean I expect big ups from here which really need some imaginations.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.
Thanks for posting that, Cobra. It is very informative.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.
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.JFR wrote:Thanks for posting that, Cobra. It is very informative.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.
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
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.