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    Brent L

    Buyer Beware!

    I realize well after the fact, that trading losses are not always financial. To summarize my torturous seven months as a an extremely disappointed member of MCM and to keep the most important facts up front:

    1. Peter is nothing more than a bearish prognosticator. Over seven months of membership, I have only seen one non doomsday prediction. Do not let the success of the HAL and RVS systems sway you. You are not a machine, and if you cannot trade 24 hours a day for months, then the systems trades will not be useful to you.
    2. Xticks are not tradeable, his cycles are not tradeable, LRE’s are not tradeable, and the MSP can and will be revised at any point. If you don’t understand any of the acronyms listed above. Stop now.
    3. Everyone (including MCM staff) on the blog uses either their own technical analysis, or Elliott Wave to actually trade. No one here actually uses the MCM tools to make trades because the tools are not objective. They all require interpretation with a higher level of inaccuracy.
    4. Again, this is a bear only site. You will not be given any bullish set ups. The market is actually going to implode at any minute, so you might as well short the market now and save yourself the membership fee.
    5. You will be told to take profits religiously, but you will never actually have profits using these tools.
    6. You will be up at all hours of the day babysitting positions, but none of them will be profitable.
    7. You will be given more bearish prognostication as the market moves higher, therefore extending your losses. When the market moves higher, its Central bank manipulation.

    <span color=”#2d5c88″ style=”color: #2d5c88;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”><span><u><span>mcm-peter</span></u></span></span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”1″ style=”font-size: xx-small;”>February 22, 2016 5:50 am</span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”>also there is signficiant resistance coming in on ES around 1945 to 55</span></span></span>

    <span color=”#2d5c88″ style=”color: #2d5c88;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”><span><u><span>mcm-peter</span></u></span></span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”1″ style=”font-size: xx-small;”>February 22, 2016 5:51 am</span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”>I want to strangle Kuroda but I think systems will be benefited by this inane manipulation</span></span></span>

    <span color=”#2d5c88″ style=”color: #2d5c88;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”><span><u><span>mcm-peter</span></u></span></span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”1″ style=”font-size: xx-small;”>February 22, 2016 6:05 am</span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”>http://mcm-ct.com/wp-content/uploads/2016/02/2016-02-22_5-25-50_DailyMSPTranslate2.png</span></span></span&gt;

    <span color=”#2d5c88″ style=”color: #2d5c88;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”><span><u><span>Sullivan</span></u></span></span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”1″ style=”font-size: xx-small;”>February 22, 2016 6:49 am</span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”>The MSP looks to me like the market will move up next Monday Feb 29th. If that is the case then we will only get 4 days of down movement until the end of the month.</span></span></span>

    <span color=”#2d5c88″ style=”color: #2d5c88;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”><span><u><span>Greg</span></u></span></span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”1″ style=”font-size: xx-small;”>February 22, 2016 6:50 am</span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”>Dissipation starts? The beginning of the END? (Pun intended). 2nd ENDs now on the 1 and 2.5 minute charts.</span></span></span>

    <span color=”#2d5c88″ style=”color: #2d5c88;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”><span><u><span>mcm-peter</span></u></span></span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”1″ style=”font-size: xx-small;”>February 22, 2016 6:51 am</span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”>Sullivan that MSP is shwoing push up into today ot tomorrow</span></span></span>

    <span color=”#2d5c88″ style=”color: #2d5c88;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”><span><u><span>mcm-peter</span></u></span></span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”1″ style=”font-size: xx-small;”>February 22, 2016 6:51 am</span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”>then down</span></span></span>

    <span color=”#2d5c88″ style=”color: #2d5c88;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”><span><u><span>Sullivan</span></u></span></span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”1″ style=”font-size: xx-small;”>February 22, 2016 6:52 am</span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”>Yes, that is what I see as well. I only count possible 4 days of down movement. Tue-Fri of this week.</span></span></span>

    <span color=”#2d5c88″ style=”color: #2d5c88;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”><span><u><span>mcm-peter</span></u></span></span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”1″ style=”font-size: xx-small;”>February 22, 2016 6:52 am</span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”>yes – but it coudl be a pronounced move IMO</span></span></span>

    <span color=”#2d5c88″ style=”color: #2d5c88;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”><span><u><span>Sullivan</span></u></span></span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”1″ style=”font-size: xx-small;”>February 22, 2016 6:52 am</span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”>I agree.</span></span></span>

    <span color=”#2d5c88″ style=”color: #2d5c88;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”><span><u><span>mcm-peter</span></u></span></span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”1″ style=”font-size: xx-small;”>February 22, 2016 6:52 am</span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”>woudl not surprise me to get 3 to 5% drop</span></span></span>

    <span color=”#2d5c88″ style=”color: #2d5c88;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”><span><u><span>Sullivan</span></u></span></span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”1″ style=”font-size: xx-small;”>February 22, 2016 6:53 am</span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”>60-100 points.</span></span></span>

    <span color=”#2d5c88″ style=”color: #2d5c88;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”><span><u><span>mcm-peter</span></u></span></span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”1″ style=”font-size: xx-small;”>February 22, 2016 7:16 am</span></span></span>

    <span color=”#666666″ style=”color: #666666;”><span face=”inherit” style=”font-family: inherit;”><span size=”2″ style=”font-size: small;”>that seems like it would fit easily – I would not be surprised with more either though that would depend on breaking 1800 ES and I its not something I care to focuse on till we turn. But whenever 1800 goes an almost 100 points straight drop is likely</span></span></span>

    My story actually begins on MCM when another website I belonged to was given an introductory offer to view a free version the eTick tools chart for ES in April 2015. We received very cryptic top level instructions on buy extremes, sell extremes and the all mighty Xtick, but none of us really understood what any of it meant. I followed my own trading strategy and supplemented it using this tools signals. I had some nice trades, and I also had some horrible trades, but really couldn’t decipher whether it was eTick tools that was driving my performance. I kept a trading log and screen prints of trades I took for about 2 months.

    In July of 2015, we received notification that the free version of eTick tools was being taken down, but we could join this website (MCM) at a reduced rate if we’d like to keep following the tool. I figured 3 months was not an adequate sample for a system, so I inquired. Much to my appeal, I was able to haggle a nice monthly subscription price, little did I know it would turn out to be one of the the biggest disappointments of my life.

    For first month, I didn’t take many trades. I basically hung around following my own strategies as I learned more about the tools. When I joined there was not a lot of web content on the tools, so most of the instructions were through the Community conversation. Occasionally we’d get a blog post from MCM Peter or MCM Randy that wasn’t really part of the subscription but most of us read.

    The August Flash crash was probably the best thing that could have ever happened for this website. Unfortunately, neither the systems or members were actually short, they had closed most of there positions prior to the sell off, and also, the market dropped almost 200 points more than the even the bearish prognosticating of Peter.

    September came and new members appeared, and old members disappeared. Again the membership was instructed that the market had not fully imploded in the august Flashcrash. In a webinar in mid September, Peter pointed out that he thought the market would be going to between 1680 to 1720. It actually was once of my best trades as a member here that lasted into early October.

    October 2016, for me was one of the worst single months of bearish prognosticating I had ever seen. In this month was the first time I saw the MSP completely changed, and also the there were system trades that clearly were losers that were lied about. I was personally reassured in the blog by Peter that the top was in around 1980, and then market ran well over 2100. The apology below from Peter is an example of how things usually look after the fact.
    <p align=”LEFT”><span color=”#222222″ style=”color: #222222;”><span><span face=”Arial, sans-serif” style=”font-family: Arial, sans-serif;”><span size=”3″ style=”font-size: medium;”><span><b>mcm-peter</b></span></span></span></span></span></p>
    <p align=”LEFT”><span color=”#919191″ style=”color: #919191;”><span face=”Arial, sans-serif” style=”font-family: Arial, sans-serif;”><span size=”3″ style=”font-size: medium;”>John I want to apoloogize to the whole board and you too for not being able to reconcile the profoundly capitulatory data this morning. – to me the view was that I had never seen any thing sthis strong especiall over a sustained timing that crashed tick tools on too machines because the data was too much adn too fast – I definitely felt that we could break out of the opening range but that this was one of the most bearish capitulation data I had ever seen – I still can not see how such overwhelming data can be anything but exhaustion…however, the reality is the accumulation index chart, cash add and the break of the x-ticks plus the impulses completions gave a really solid picture – as well as your charts _ I apologize for being a bit off my game on the data this rmorning…normaly there woudl have been now way that i would have any debate to the cash being added making new highs on the day with the market making new highs on the day as anthign else but follow through materail and I want to compliment you, alex and randy on today</span></span></span></p>
    <p align=”LEFT”><span color=”#919191″ style=”color: #919191;”><span face=”Arial, sans-serif” style=”font-family: Arial, sans-serif;”><span size=”3″ style=”font-size: medium;”>market is at the impulse retests with a direct retest and this is key – I am concerned about the potential running correction I posted earlier but it has some issues however, I think if there is going to be a turn from here would be a great place now that the freaking Impulses have been hit directly with their retests – all I can say though I believed it woudl be possible I did not think it could happen with no pullback or virtually none</span></span></span></p>
    These apologies are quite frequent and usually follow a cycle. First the central banks are to blame, then the tools were somehow flawed but immediately corrected, then the bearish sentiment resumes. There were similar apologies in November, and in February. There are even more non apologies over the last 7 months as well.

    By December, I had reached my limit. I called Peter out on his tools simply not working. The MSP was wrong, eticks weren’t offering trade able signals. I actually started doing the opposite of what Peter was saying just to satisfy my dislike of him. At that point, I stayed on as a member just to be an annoyance (kinda like writing this experience).

    In January, MCM looked like a god send, many of the members who perpetually short the market finally got the holy grail of bears, a waterfall decline that lasted almost a month. The problem was, most of them covered WAY to soon because to the “take profits” religiously mantra. The more the market sold off, the more bearish Peter’s narrative became. Everyone kept shorting, and everyone has kept losing. More members have given up on Peter, and his overly bearish pontifications.

    From there the rest is pretty much history….things got more and more bearish as the market has climbed back up over 200 points and yet the MSP is down for another 3 months.

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