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Jack do you have anything to add to the discussion we had recently on harmonics? I, and I'm sure others, would appreciate your comments on this topic beyond what you've previously posted. See: http://elitetrader.com/vb/showthread.php?s=&postid=1496146#post1496146 As to the fear that...

I know! The link is that book value is calculated on an historic cost basis (the costs sunk into the business). It is irrelevant to the future cash flows (which ultimately determine the value of the business). Book value can be manipulated, for example by changing your depreciation policy...

Look up "sunk cost fallacy", that should help you on your way.

Thanks for the summary. I took a quick look and Avi8 made some great points too: e.g. If you wait for confirmation in price you will be too late. Well, that's most indicators out then, (in case anyone here didn't realise :D). In my experience, the transition goes something like this...

Yes - this is what first made me look deeper into what Jack had written compared to your recent posts, as I know his stuff pertains to the overall trend development not just pairs of bars or intra-bar reversals. Me too. Wouldn't it be neat though if we nail it down, finally, here on this...

The confusion arises because we are comparing the difference between two series of three significant terms only: 1,2,3 and 1,2,4. Of course both contain Odd (1) and Even (2) harmonics. The difference arises from the minor harmonic (which represents A/D in Jack parlance) which is either Odd...

Hi Pepe I'm sorry you misunderstood. I could only make it clearer by knowing where you are currently in understanding all this. There is a limit to what you can convey in half a dozen slides. I have a masters in engineering, so perhaps I take a lot of things for granted. I also start from...

I did some work on this stuff today.

Spydertrader (Jun 5, 2007 2:30:08 PM) edited just because you reach a conclusion in one moment, doesn't mean you can't have a different conclusion in the next moment based on continuously updated (and new) information. === Two famous quotes come to mind: "When the facts change, I change...

OK, I've had a lot of PMs regarding my Excel chart of the DOM. I do not want to distract from Spyder's recommended syllabus or spoil the pace at which he wants to introduce elements of the DOM – so by all means start using my chart but please don’t use this thread for questions on design...

Excel. PM me if you need more.

Nice display. Here's an example of a wall forming on the DAX yesterday: <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1487995>

I did some thinking about the DOM a while back and found very little on ET that answered my questions, other than a few gems from Mak and Jack. I synthesised my view of how it all hangs together in some slides which I hope others find useful. Read it in conjunction with Spyder's post...

After: (see chart)

Before: (see chart) The 0930 bar forms on large volume, heads down, hits support wall and immediately heads back up. Very volatile compared to prior bars. Price settles and during 0945 bar I know a lateral is forming. Price has entered the lateral from below so I anticipate it breaking...

I suspect Spyder has told us all this many times before and most of what we need is on Page 1, LOL. :) I found the first 2 hours tricky and started to have some negative thoughts about trading in general. Then I took a step back and realised how far I had come in just a few months...

I'd have drawn the channels the same as you: it matches the gaussians up to 10:55. This channel identifies the FTT well and potential P1 at 10:45. However, (and this is why Spyder's channels are different I think) the RTL is crossed on decreasing red volume. This BO/FBO bar is a flaw (of...

This is interesting stuff. Could you post an example (PV chart)? As to the reason: at every price level someone thinks it's a bargain (given their motivation and history). There is always a pause after P1s while the market catches on. This pause allows those who have been on the wrong side...

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1478004> Great, kid. Don't get cocky. Hog Solo

FWIW, I had the same analysis, but my chart is not as sexy as yours. Also the YM was very useful confirmation over those bars - I thought that should be brought in to the analysis?