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Seven Sentinels Buy Signal 7-15-09


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#11 MoneyFriend

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Posted 09 August 2009 - 05:35 PM

The first post was ok. The second is piling on.



Piling on? I'm merely quoting IYB and pointing out a distinction which I think should be made very clear to those who have not been following the SS as closely as you may have.

I'm not trying to agitate anyone I just think it's dishonest to change the signal 3 weeks after the fact.
IMO, there should be a new signal the "Seven Sentinel changed mind" signal or SSCM. And it should show up on the chart above August 9th.
It's fine for one to change their mind, but what happened on July was deemed a sell, it is dishonest to go back and rewrite history now.
If I were new here and saw IYB's chart, it would be very misleading to see July 15th marked as a buy signal, because he clearly stated it was a sell over 3 weeks ago.
From my understanding IYB is the keeper of the SS, he is the interpreter, it's his baby, his interpretations are the signals, the setups are very subjective and IYB is the one who knows the system best, it's only fair to keep the charts marked with the original interpretation.

Edited by MoneyFriend, 09 August 2009 - 05:36 PM.


#12 IndexTrader

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Posted 09 August 2009 - 05:37 PM

Good post Don. And in my opinion, you should definitely include the Buy signal on your chart. It accurately reflects what the indicator was saying at the time. We all know you filter these signals with your own interpretation. You're gonna make your mistakes, just as we all do. I make them all the time. How do you propose now to get long? Are you going to wait for a correction? Or do you just get long Monday AM? IT

#13 IndexTrader

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Posted 09 August 2009 - 05:41 PM

The first post was ok. The second is piling on.



Piling on? I'm merely quoting IYB and pointing out a distinction which I think should be made very clear to those who have not been following the SS as closely as you may have.

I'm not trying to agitate anyone I just think it's dishonest to change the signal 3 weeks after the fact.
IMO, there should be a new signal the "Seven Sentinel changed mind" signal or SSCM. And it should show up on the chart above August 9th.
It's fine for one to change their mind, but what happened on July was deemed a sell, it is dishonest to go back and rewrite history now.
If I were new here and saw IYB's chart, it would be very misleading to see July 15th marked as a buy signal, because he clearly stated it was a sell over 3 weeks ago.
From my understanding IYB is the keeper of the SS, he is the interpreter, it's his baby, his interpretations are the signals, the setups are very subjective and IYB is the one who knows the system best, it's only fair to keep the charts marked with the original interpretation.


I disagree. The SSs gave a buy on 7/15. That much is clear. On the other hand, IYB filtered the signal, and was wrong. But the Sentinels themselves correctly gave a buy signal.

IT

#14 MikeyG

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Posted 09 August 2009 - 05:45 PM

My only question is what will be the driver of growth in this "bull market"???

#15 IYB

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Posted 09 August 2009 - 05:47 PM

Good post Don. And in my opinion, you should definitely include the Buy signal on your chart. It accurately reflects what the indicator was saying at the time. We all know you filter these signals with your own interpretation. You're gonna make your mistakes, just as we all do. I make them all the time.

How do you propose now to get long? Are you going to wait for a correction? Or do you just get long Monday AM?

IT

Thanks IT. Appreciated. I knew that there was really no way to do this that would make everybody happy but still accurately reflect my methodology, so I did it the best way I could come up with. :)

I plan to get about 15-20% long right away, then try to build to 100% on pull backs. Aloha, D

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#16 MoneyFriend

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Posted 09 August 2009 - 05:53 PM

Good post Don. And in my opinion, you should definitely include the Buy signal on your chart. It accurately reflects what the indicator was saying at the time. We all know you filter these signals with your own interpretation. You're gonna make your mistakes, just as we all do. I make them all the time.

How do you propose now to get long? Are you going to wait for a correction? Or do you just get long Monday AM?

IT



I agree with you Index that it was a buy signal. Clearly after the fact it's all it could have been right? I remember reading the post then, shrugging, and happily continued to hold my calls.
My point is that IYB did not call it a buy signal, he called it a ST trading top and said that the correct position was short, that's what his system told him, thats what he reported, it's just absolutely misleading for him to go back and mark that chart as a buy now. I suppose nobody else thinks this matters so I'll shut up now.

#17 Spectacular Bid

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Posted 09 August 2009 - 05:53 PM

Thanks IYB The seven sentinel signal absolutely belongs. from a mechanical perspective it happened and you said so regardless of any interpretation. If you want to put some notation on it, that's up to you. Your detailed analysis was excellent and much appreciated as always and it's good to see you back in tune. Your conclusions at the time you made them were reasonable and well explained. This was a tough one.

#18 cp1

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Posted 09 August 2009 - 05:59 PM

Thanks for the detailed post. Much appreciated as always. Best to you. CP1

#19 IndexTrader

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Posted 09 August 2009 - 06:05 PM

Good post Don. And in my opinion, you should definitely include the Buy signal on your chart. It accurately reflects what the indicator was saying at the time. We all know you filter these signals with your own interpretation. You're gonna make your mistakes, just as we all do. I make them all the time.

How do you propose now to get long? Are you going to wait for a correction? Or do you just get long Monday AM?

IT



I agree with you Index that it was a buy signal. Clearly after the fact it's all it could have been right? I remember reading the post then, shrugging, and happily continued to hold my calls.
My point is that IYB did not call it a buy signal, he called it a ST trading top and said that the correct position was short, that's what his system told him, thats what he reported, it's just absolutely misleading for him to go back and mark that chart as a buy now. I suppose nobody else thinks this matters so I'll shut up now.


There is a distinction between the system itself, and IYB's interpretations of the system. If the signal were removed from the chart, then what we would have is an accurate portrayal of IYBs interpretation, but an inaccurate portrayal of the system.

Don has footnoted his interpretation on the chart. And I think that addresses the concerns.

Personally I like know all the signals that the Sentinels throws out, and I also like knowing Don's expert opinion.

IT

#20 risk_management

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Posted 09 August 2009 - 06:18 PM

Rogerdodger, Terry is talking about possible pullback to "support levels he mentioned last week". Is that black midline, roughly around 55ma, or something else? TIA