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Seven Sentinels Sell Signal


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#1 IYB

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Posted 04 May 2010 - 06:45 PM

We had a clean clear sell signal from the Seven Sentinels today, and I noticed that it came on one of the highest volume days of 2010. Fwiw, I cleaned out my longs on the open today and began building my short position via ETF's right from the opening bell, because it was pretty easy to extrapolate tonight's Sell Signal after the $BPCOMPQ went to sell yesterday on a DJIA +143 day:

http://stockcharts.com/c-sc/sc?s=$BPCOMPQ&p=D&yr=0&mn=4&dy=0&i=p71916081383&a=199263754&r=982.png

By the end of the day I was and am pretty fully committed on the short side via TZA, FAZ, QID. Good trading all and happy Cinco de Mayo tomorrow, D

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=1&mn=3&dy=0&id=p19573799723&a=181755090&listNum=33&r=9928.png
“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds

#2 rotrot

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Posted 04 May 2010 - 07:04 PM

...great technical trading system...thanks for sharing... B) rotrot

BPCOMPQ_05042010.png




#3 zoropb

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Posted 04 May 2010 - 07:08 PM

I was going to ask you about the SS's below then I saw the post. Ya beat me to it Big D. Gracias

Short to the gold buy trade: from 2900. Day total: 12/14   +26.75

Total +503.25

 

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#4 thespookyone

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Posted 04 May 2010 - 10:44 PM

Thanks Don. Always good to see a trader (not bull or bear) go about his work. Your ss signals are much appreciated in my corner. This is one I bet we shouldn't overstay.

#5 inamosa

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Posted 05 May 2010 - 01:49 AM

My thoughts precisely, spook It is quality posters like you and Don and some others here that keeps me coming back Thank you again, Don
"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

#6 milbank

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Posted 05 May 2010 - 08:08 AM

Thanks Don. Always good to see a trader (not bull or bear) go about his work. Your ss signals are much appreciated in my corner. This is one I bet we shouldn't overstay.

Very much seconded youspookyone. Don's work gives me the big picture overview for my scalping which is always good to have and yes, it's the traders who check their ego's and vanities at the door, go about their work, and share it with us "glommers" who are most appreciated by traders who come to T-T.

Thanks Don ;)

"The power of accurate observation is commonly called cynicism by those who have not got it."
--George Bernard Shaw


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#7 IndexTrader

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Posted 05 May 2010 - 08:23 AM

Don: So just to clarify in my own mind, the SS system is officially giving a short signal on this mornings gap down opening since this is the first time one could trade since the signal? IT

#8 IYB

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Posted 05 May 2010 - 09:42 AM

Don:

So just to clarify in my own mind, the SS system is officially giving a short signal on this mornings gap down opening since this is the first time one could trade since the signal?

IT

Yes, the official signal is at yesterday's close, and had one waited for that signal to act, his first opportunity to short would be this mornings gap down open. Same can be said of IBD's "market in correction" advisory. But the Seven Sentinels do not dictate your trades, of course. How you trade is your business, and if the the SS's help, great. If not, ignor 'em. ;) I laid out in the post how I used 'em both to exit longs and initiate shorts yesterday. Regards, D
“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds

#9 IndexTrader

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Posted 05 May 2010 - 10:31 AM

Don:

So just to clarify in my own mind, the SS system is officially giving a short signal on this mornings gap down opening since this is the first time one could trade since the signal?

IT

Yes, the official signal is at yesterday's close, and had one waited for that signal to act, his first opportunity to short would be this mornings gap down open. Same can be said of IBD's "market in correction" advisory. But the Seven Sentinels do not dictate your trades, of course. How you trade is your business, and if the the SS's help, great. If not, ignor 'em. ;) I laid out in the post how I used 'em both to exit longs and initiate shorts yesterday. Regards, D


I understand how I trade is my business. My only point is that in order to evaluate the performance of SS or IBD for instance (or any other system), you have to look at when the trade was made. So for that purpose, that would be this mornings opening. If you were able to foresee what SS would do yesterday morning, a day ahead of time, that would be a function of your trading ability, not the system per se. The difference though between showing last nights close and this mornings opening is significant...about 12 points on the S&P500.

Thanks for posting the signals Don. Good trading.

IT

#10 vitaminm

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Posted 05 May 2010 - 11:26 AM

One may follow these signals along with guru's TA!

http://www.masterdat...-ETF-Trends.htm
vitaminm