Robert Hoffman's S&P500 Technical Analysis for August 12th, 2008

No hostility, it’s just sort of strange that he never looses. As a matter of fact yesterday we broke his support @ 1281 stayed below it for 2 consecutive bars, now here is the good part. The market rallied back up to the support turned resistance @ 1281 were Hoffman says in his videos is the time to pounce. But not this time he says. Hummm a perfect set up broken support a return to that support and no trade.

He is clearly a fake, won’t admit his set up failed. Hey mine fail all the time, not everyone works. Look at the past videos see for yourself. He preaches wait for the break at least two consecutive bars to confirm then a retrace. Well all that happened. His excuse is it was to close to the open.

Although he points out all his great support and resistance levels and how they work to overnight traders.

Admitting you were wrong is more important than being right.
 
Quote from Aaron Copland:

No hostility, it’s just sort of strange that he never looses. As a matter of fact yesterday we broke his support @ 1281 stayed below it for 2 consecutive bars, now here is the good part. The market rallied back up to the support turned resistance @ 1281 were Hoffman says in his videos is the time to pounce. But not this time he says. Hummm a perfect set up broken support a return to that support and no trade.

He is clearly a fake, won’t admit his set up failed. Hey mine fail all the time, not everyone works. Look at the past videos see for yourself. He preaches wait for the break at least two consecutive bars to confirm then a retrace. Well all that happened. His excuse is it was to close to the open.

Although he points out all his great support and resistance levels and how they work to overnight traders.

Admitting you were wrong is more important than being right.
More...

Anyone refusing to admit losing trades is most likely trying to attract noobs as they want to hear exactly that the last thing they want to hear from their guru is that he could be human and actually lose money from time to time and noobs are where the easy cash is. I'd say be a bit careful but if its free and he is teaching you stuff you may as well keep tuning in
 
why the retrace didnt work according to him: it was also a key reversal (lower low but higher close) than previous bar and a retracement on heavy volume (instead of light volume) and also it was on the open and he doesn't trade the open.
 
Quote from Aaron Copland:

No hostility, it’s just sort of strange that he never looses. As a matter of fact yesterday we broke his support @ 1281 stayed below it for 2 consecutive bars, now here is the good part. The market rallied back up to the support turned resistance @ 1281 were Hoffman says in his videos is the time to pounce. But not this time he says. Hummm a perfect set up broken support a return to that support and no trade.

He is clearly a fake, won’t admit his set up failed. Hey mine fail all the time, not everyone works. Look at the past videos see for yourself. He preaches wait for the break at least two consecutive bars to confirm then a retrace. Well all that happened. His excuse is it was to close to the open.

Although he points out all his great support and resistance levels and how they work to overnight traders.

Admitting you were wrong is more important than being right.
More...


It's obvious that this guy is a fake. I have seen many self-proclaimed Guru's in this business and 98% of them were fakes...salesmen/women...heck, even those odds imply that he is most likely a fake...if it looks like a duck, acts like a duck...you finish the rest..

Unfortunately, he will make boat loads of cash from those unwilling to see the truth...
 
Quote from SusanaDT:

Smells like snake oil waiting to happen.

Step 1 - Build a viewer base
Step 2 - Keep growing
Step 3 - Get website in the works
Step 4 - Do some mentorships in the meantime to build capital for whats to come
Step 5 - Chat room

The grand finale ? Snake Oil!

Here is what he is doing.....

These are the levels, a dozen are given.

If it goes up, these are resistance.

If it goes down, these are support.

If you want technique, get in line for a mentorship, oh and btw website soon website soon!

Thank you for the ratings oh look 5 stars, look at it again 5 stars! Followers from all over the world, wow, thank you! Subliminal message of keep rating my videos, keep telling your friends, more viewers nice, more viewers yeah!

In the meantime members in ET like NoProblem who post a link to his YouTube videos in 99% of his posts, no exaggeration, 99% of his posts.

Oh dear, Oscar Carboni v2.0

Conclusion, "Trust no one!"

Toodles,
Susana
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Bravo...
I've been saying this for a while...
guy's a douche...
won't let anyone make a comment that might be critical of his day-trade-orama bullshit...

Hey, S&P is at 1300...we've got resistance at 1303, 1306, 1308 and 1311...
also, support at 1298 and 1295 and 1292 and 1290...

WOW, Hoffman your levels are AMAZING!!!

Then the comments from the youtube videos are all so flattering and complimentary that it could make you sick...not even a doctor who saved 100 lives on a burning plane gets that many compliments...

"Oh S&P, thank you so much for making me a thousand dollars...YOU COMPLETE ME"...

It's a loaded fuckin gun...and the guy's just another hebe trying to make it in this crazy world...

Anyone old enough to pee standing up understands this...
 
Quote from thatsmyopinion:

Well thank you Aaron, we finally get to the bottom of this, it's jealousy heh? I don't see you cheerleading his calls where he gave his opinion and was right far more often than not, but you're the first to cry when his opinion was wrong.

I find the most interesting part of this whole thing is that you hate the guy so much and yet you watch him. I think that's absolutely hilarious. If he was really so horrible, I don't think you would waste your oh so precious time if you were a real trader.

Nor do I think if he didn't have plenty to offer would he have over 2400 or whatever subscribers. So remind me again how you can quote him if you don't watch him since he's so horrible?

By the way, please let me know where I may find your daily analysis of the market? I'd like to see that since you appear to be way better than the snp trader dude and every one else around! That's my opinion.
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Hahaha...another one of the shills, or are you the GOOOROOOO himself? Anyone can pump their own Youtube videos and setup unlimited email addy's and subscribe to Youtube channels...it's quite simple actually and he has done it quite well..

WE ARE THE NUMBER 8 VIDEO IN TOGO TODAY!! THANK YOU TOGO!!!!

Get a fuckin life...
 
Great thread. His videos are a joke. I trade es everyday and I'm relatively new to the game but I was watching the videos at the beginnin and even I found them to be laughable.

My broker, Drew at Greenrush Capital sells a weekly trading report which is really good but he always comes back the next day and posts his winners AND his losers. I get it for free but its a breath of fresh air when compared to these scum punks.
 
Well the videos from snp has some good fundamentals for new traders. He explains some of the beginner concept like risk/reward, patience/when to stay on the sidelines, etc.. very well. And also shows how to apply them to actual trades.

But his levels really is comical. Some of the obvious resistence/support are true and can be spotted by anyone doing technical. But on top of that, he adds on average 5 more levels each and to make it worse some of the levels are a range. So if you actually try to plot it on your intraday charts you just get blue lines all across the entire chart :p

Also his high probability technique for entry in the video is wait for a break out of support/resistence, then a 2 full bar pullback into the support/resistence to confirm the breakout was just a fake to shakeout the weak hands. I dont think that's a bad method, but there were many times in the video when this clearly did not work. Instead of just owning up and say "it didnt work, stoploss were hit". He made up some bullshit about how he was 100% correct again and the chart moved just like he predicated.
 
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