SMC Update 11-2-22

The webcam video froze midway through, but there is no loss of audio or chart views!!

thanks Peter

Peter, when did it click to ignore the news and follow the projections? Would love some musing on the unconventional approach. Ty for covering more assets today.

Thanks Peter, great as always. Dont see those people panicking today that you're too bearish:)

Peter Eliades said:

The webcam video froze midway through, but there is no loss of audio or chart views!!

Thank you, Peter. It does not affect me watching at all.

For the record, I never said we had turned bullish. It should be abundantly clear what I said was Peter had ignored short term projections and was resolutely there was only one direction. Many of us sold. The market (NDX) rose 10%. It is super (as I didn't go back in) that the slightly longer term projections appear now to be playing out. ~10k NDX here we come. I hope Peter will have an eye on short term projections if/when we get there. It will be interesting to see if a sizeable BMR is projected, then.

m1.c70 said:

DAV15J said:

For the record, I never said we had turned bullish. It should be abundantly clear what I said was Peter had ignored short term projections and was resolutely there was only one direction. Many of us sold. The market (NDX) rose 10%. It is super (as I didn't go back in) that the slightly longer term projections appear now to be playing out. ~10k NDX here we come. I hope Peter will have an eye on short term projections if/when we get there. It will be interesting to see if a sizeable BMR is projected, then.

I think Peter has been very clear that trading decisions are our own and we should use other sources/knowledge to make these. Peter has also said repeatedly that he regards the time element as less important than price. There are shorter term projections on the app which is available to all of us. So you have been free to use these and disregard Peters' view. The fly in the ointment is that all projections are probabilistic not certainties, so ultimately I and you have to make a judgement and manage risk.

I also think it is our own decision how to proceed. However, it does seem to me that the ambition of this service should be to get the most objective and unbiased report possible of what the indicators tell us

m1.c70 said:

DAV15J said:

For the record, I never said we had turned bullish. It should be abundantly clear what I said was Peter had ignored short term projections and was resolutely there was only one direction. Many of us sold. The market (NDX) rose 10%. It is super (as I didn't go back in) that the slightly longer term projections appear now to be playing out. ~10k NDX here we come. I hope Peter will have an eye on short term projections if/when we get there. It will be interesting to see if a sizeable BMR is projected, then.

I think Peter has been very clear that trading decisions are our own and we should use other sources/knowledge to make these. Peter has also said repeatedly that he regards the time element as less important than price. There are shorter term projections on the app which is available to all of us. So you have been free to use these and disregard Peters' view. The fly in the ointment is that all projections are probabilistic not certainties, so ultimately I and you have to make a judgement and manage risk.

Indeed, everyone needs to set a limit for themselves and keep watching the charts, rather than relying on projections to be met cleanly right as they are given.

seamus.ssoh3308 said:

m1.c70 said:

DAV15J said:

For the record, I never said we had turned bullish. It should be abundantly clear what I said was Peter had ignored short term projections and was resolutely there was only one direction. Many of us sold. The market (NDX) rose 10%. It is super (as I didn't go back in) that the slightly longer term projections appear now to be playing out. ~10k NDX here we come. I hope Peter will have an eye on short term projections if/when we get there. It will be interesting to see if a sizeable BMR is projected, then.

I think Peter has been very clear that trading decisions are our own and we should use other sources/knowledge to make these. Peter has also said repeatedly that he regards the time element as less important than price. There are shorter term projections on the app which is available to all of us. So you have been free to use these and disregard Peters' view. The fly in the ointment is that all projections are probabilistic not certainties, so ultimately I and you have to make a judgement and manage risk.

Indeed, everyone needs to set a limit for themselves and keep watching the charts, rather than relying on projections to be met cleanly right as they are given.

No upside projection was given in the videos that I watched