Mark Cook: 29% correction in March 2007

I've been to a seminar by Mark Cook. This is America and everyone has a right to an opinion. One thing I came away with from the seminar is that the cumulative tick (unless he's changed it) is a largely subjective indicator, as many of his indicators are.
Like I said, this is America and you are entitled to your opinions, so here's mine. Mark should state clearly that these are opinions backed up by his experience and judgement and not a scientific formula.
By the way, 10 and 20% corrections are to be expected in the market, and cycles never repeat EXACTLY. If they did, all you'd have to do is set your watch and become millionaires without any effort. So in that repsect, it IS different this time because it is ALWAYS different!
 
I haven't visted Mark Cook's web site in a few years. It seems to have been spruced up since I last checked. Didn't he also provide his own (monthly?) performance results in one form or another a few years back?
 
Quote from iamliam:

Not to my knowledge
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Then I am guessing that you have not visited his site a few years ago. Please don't misunderstand me. I am not criticizing him or his outlook. I am merely making an observation.
 
Mr. Cook has proven himself to be a great trader and by many measures the markets are overextended and due for a correction (sell in May??). However, his credibility as a prognosticator is not aided by the fact that his bearish forecasts started back in 2005 (or before?) ...
 
Quote from Thunderdog:

Then I am guessing that you have not visited his site a few years ago. Please don't misunderstand me. I am not criticizing him or his outlook. I am merely making an observation.
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Yes, I also visited his site several years ago, and despite all the comments from all of the bandstanders on the board, his track record, while overall in the positive, was nothing to write home about.

After having also seen him talk I was a little disappointed.

Hmm, let's see what the Guru is saying now.

Jimmy Jam
 
3/9/07: 29% Correction Part 2

Complacency! Complacency! Complacency! etc., etc., etc.

(sounds like he's complaining?)

3/25/07: 29% Correction: Part 3

Reality! Reality! Reality!

It has been very interesting to me over the past 3 weeks regarding the sentiment in the stock market. The proverbially shot across the bow was experienced in late February. Believe me, those bearish guns are still aimed at the full ship now.

(and as the market continues to make new highs)

4/6/07 29% correction part 4

Frustration! Frustration! Frustration!

The plunge protection team manipulators are now feeling the word frustration creeping into their demeanor and their mindset.

(sounds like the rantings of a Guru on his soapbox when the market doesn't go his way, they do, after all, always sound the same.)
***
The real question is, when will you followers ever learn? Oh, you won't, you'll just go looking for another Guru. Either that OR claim success 4 months after the fact when (if) the market finally falls apart.

Good luck, :p

Jimmy Jam

P.S. ... and it is VERY INTERESTING that he no longer shows his trading performance, just the commentary and a registration page
 
jimmy jam is the man. Mark Cook just got torn a new one! wow!. Very dangerous having a blog you better know what you are talking about. As soon as I read the words plunge protection, I tuned the rest out. Geez do people pay for this? Or is it free?
 
the blog (of sorts) is free but he does have a daily advisory that is anything but!

what most people are missing is that Mark is a very short term trader and he could very well be profitable in the ST while bearish and wrong in the LT
 
Sounds like the Doug Kass or David Tice (or Bill Gross) school of "book talkin'".

The litany of things that are "wrong" with the market/economy is long.

So what? When/if will it come home to roost? Who knows?

But to say "the market will crash XX% by such and such date" is just begging to get your ass handed to you.

No one knows. If they think they do, they are deluded.

Sure, the market will drop at some point. But I remember all the stern warnings about the last bubble. They started in about 1995...

Just trade 'em, Boyz! :cool:
 
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