ON EDUCATION DAVID HUNT PROFIT HUNTERS GROUP
Since my gold membership earlier this year, I have been taking advantage of his daily webinars. I continue to be impressed by his ability to analyze local and global stock markets, commodities, foreign exchange and his ability to recognize early changes in trend.
His daily up to date analysis starting at 8 am is worth watching.
He does the analysis on a platform using mostly eSignal data, which will certainly improve your chart reading skills. If you are an active trader, you will benefit from his advice to go long or short. Always with an appropriate STOP LOSS.
He mostly uses Fibonacci and Elliot Waves but more importantly, his vast experience really shines and PHG Members are rewarded with some stunning results.
If a market becomes confusing, he knows when to leave it alone.
The evening and special webinars are a great way to understand what is happening in the global markets.
His analysis for the long-term investors, intermediate and short-term traders is excellent as well.
He is undoubtedly best described as the Advisor to the Advisors."
It has been a privilege for me to write this column for 14 years now. Long-term subscribers have reaped the benefit of using what I call our road map, the simple Weekly Close chart on the ASX 200 Index and especially the 2007/2008 top and pinpointing the 2009 low. This chart is now focusing on what goes on in the market and possibly a test of the major support line, currently in the 4800 area. It will quite likely be described as *the correction we had to have”. My last caption was written on July 15, 2014, COMPLACENCY CALLS FOR CAUTION, where sentiment was riding high but in a maturing bull market.
In my opinion, this column has also allowed me to focus on contributions made by some of the best analysts in the industry giving traders the opportunity to learn from their long-term experience in the market.
Some of the prominent names are Mr Michael S Jenkins, Jeff Greenblatt, Fibonacci Forecaster,
David Hunt of the Profit Hunters Group and Dr Mircea Dologa for his important contribution to the World Charting Report and Steve Briesi’s Commitment of Traders Report.
It is sad to see once again that investors are not aware of the risk involved in buying into the latter stages of a maturing bull market. I have been a professional Technical analyst for 50 years with hands-on experience in stock markets, commodity markets, and foreign exchange, encompassing three major stock market crashes. The fact is that even if a bell rings at the top and bottom of the market, no one wants to listen!
Over the years, I have given many presentations in most capital cities and my advice has always been to “buy a young bull and learn to read charts”. With the advent of computer systems and the easy access to data this, in my opinion, has lead to an information overload with perpetually two opinions, one of which has to be WRONG.
Keeping hand drawn charts has a distinct advantage over just using computer generated charts where they stop at the right side of the screen and do not allow you to project into the future. Also, it is worth noting that they lack perspective and conceal the real risk. My study is almost overflowing with charts that have become wallpapers when positioned on a huge drawing board. The gold, silver, Dow Jones and Aussie dollar, to name a few, fit that category.
Most press comments are a result of hindsight rather than foresight when they are always looking for “reasons”. I have learnt over the years that the real reasons will come later. It is best to use the chart patterns supported by the technical indicators for confirmation of a change in trend.