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Seven Sentinels Buy Signal 7-15-09

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#21 inamosa


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Posted 09 August 2009 - 07:06 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?



Also, RD, our in-house T-Theory Expert :), do you know what those bands are around Terry's volume oscillator and what the settings are for it?

"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months

#22 tuffy88



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Posted 09 August 2009 - 08:07 PM

Great post Don.As IT said your 7 sentinals signal was right. Only the interrepation of it was off. That happens to everyone from time to time. In the markets there is no way to avoid a mistake in interpretation at times. Happened to me more times than I like to think. It is being right oftener than wrong or making more money on right calls than losing on wrong calls that is all important. Your 7 sentinals calls have certainly made a lot more money than they have lost. That is what counts. Charles

#23 borland



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Posted 09 August 2009 - 08:18 PM

IYB, Great work. I think the confusion is that your system is only a trend finder and not the trading system its advertised to be. Have you considered addiing a rule to invalidate a new trigger (SSSS or SSBS)? By design, your SS system is late triggered (usually doesn't spot the exact tops or bottoms). There was a higher-high following you last SSSS that seemed troubling. My trading system includes rules for exiting a position when the trend momentum subsides or reverses. A % stop loss or higher-high/lower-low might be used to invalidate your last trigger. In such an event, your rule might be to go to flat and wait for a second confirmation (may not acutally be the same SSSS tirgger) or possibly a reversal signal (SSBS). My trading system also has rules late entry. Even though its an automated trading system, sometimes it misses the ideal trade zone for various reasons, so it will chase a move higher without fear of taking a trading loss every so often. Good luck with the trades. borland

#24 Islander



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Posted 09 August 2009 - 08:20 PM

I find this revelation consoling since I have been in since March 09 lows and am up 40% and on banks 150% in some cases. My PhiMate turn signals for the fall have me working on a plan to keep my winnings. Primary or not, nothing goes straight up. Any thoughts on gold and bonds.\? (yes after a certain age one does owns them). Congratulations on jumping in.... finally. Best, Islander :D

#25 cgnx



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Posted 09 August 2009 - 08:32 PM

IYB you are a true gentleman. Excellent post. Clearly stated. Clas act. The TA total package. At least the kind of TA I really appreciate.
If it can be cornered, it will.

#26 swinger



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Posted 09 August 2009 - 08:40 PM

Thanks for very generously sharing your thoughts Don.

#27 spielchekr



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Posted 09 August 2009 - 09:00 PM

Sounds rosy, but I can wait one more day ;). Good luck to you.

#28 Comeback Kid

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Posted 09 August 2009 - 09:28 PM

I haven't read all the responses here but wasn't just last week the jaws of death?

#29 totterdell91



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Posted 09 August 2009 - 09:40 PM

Hi Don, Just wanted to add my appreciation for going back over the SS signals, and your reasoning both at the time of the signal, and currently. The SS was one of the the things which attracted me to this board. Your detailed and well reasoned analysis was one of the things which encouraged me to become a contributor. Personally I don't care whether the analysis turns out to be correct or not, it is the reasoning and the thought process which is important, and your posts consistently provide a catalyst for an informed logical TA debate, as well as challenging the "no chart" brigade to put up some evidence of actually having analysed something. mtgp

#30 Comeback Kid

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Posted 09 August 2009 - 10:00 PM

I meant, "Jaws II blood in the water" I see that was 10 days ago.