The backgrounder, in short:
Nicky has been suggesting for some time now that he is able to discern future direction of the market by analysing the activities of "program trading".
I don't dispute that program trading is a factor in the market, it accounts for a large percentage of daily volume and transactions.
Yet he doesn't appear to have the requisite data from which to analyse program trading.
He focuses all his attention on forecasting the DOW, never mentions the Nasdaq, never concedes that the two are not terribly correlated, yet all of his "special charts" listed on his web site are Nasdaq names.
When questioned about his method or the data from which he draws his conclusions, he either never responds, responds with a condescending "you will learn", or simply repeats his mantra "it will be fine", or borrows someone else's "forget the noise, it will be fine".
No evidence of advanced analytics has ever been presented. He uses free web sites and web-based charting to promote his theory, yet purports to have inside knowledge of the activities of program trading operations the world over. Some data does exist by which a certain amount of analysis of said activity could take place, but most assuredly its not available from Stockcharts.com.
For me, its not "hostilities" but an honest quest for information to satisfy my professional curiosity.
Information would go a long way to addressing the bottom line question: is "it will be fine" a position based on any facts, or just his hope?
SI is a learning and sharing community for the most part, at least it was when I first started contributing years ago. Since Nicky has refused to answer simple questions without resorting to his mantra, my BS detector is on alert.
If he's drawing a few support lines and that's the main rationale for his opinion - great, I'd just like to see some honesty from Rodney (his apparent real name).
I don't expect to see it. |
