16 replies to this topic

[kean]

I believe I saw Don say he would ignore a sell if it should materialize, but couldn't find the post. Just want to be sure.

[IYB]

Yes-I see today's action as continuation of what I commented on earlier in the week. At Tuesday's close I expected a sharp decline Wednesday that would mark a low for a while. Instead it went up sharply on good news Weds. I think what we got today was that sharp decline I was looking for Weds. It's been a very strange and convoluted week in many ways. Not just the market behavior but the behavior of posters here and elsewhere.

Bottom line though, I am treating this a a normal ST pullback in an strong uptrend similar to 3-30 and 4-20 where the SS went to sell for a day or two before the uptrend resumed, as the upside momentum is just too powerful to support an SSSS, imho. Regards, D

http://stockcharts.com/c-sc/sc?s=$NYMO&p=D&st=2009-01-01&en=2010-01-01&i=p43484126861&a=173216384&are=5233.png

Edited by IYB, 14 August 2009 - 09:18 PM.

[Echo]

I believe I saw Don say he would ignore a sell if it should materialize, but couldn't find the post. Just want to be sure.

Today wasn't a sell as we already had a SSSS on Tuesday when all seven went on a sell--though Don's interp was to NOT view it as a sell signal. Yes, Don did discuss this Tuesday and related that he felt that getting all seven to sell within the context of a bull market indicated a near-term oversold state ripe for BUYING and added to his position Wed AM. FWIW, I agree with him and posted reasons why, just go back to Tues to see.

Echo

[Echo]

Just saw your answer, Don. Must have been typing at the same time, lol. Market action maybe explained by the Hurst 2.5wk low due today, latest Mon. Kean, what he said. He explained it better and had a chart to boot. Echo

[IYB]

Just saw your answer, Don. Must have been typing at the same time, lol.
Market action maybe explained by the Hurst 2.5wk low due today, latest Mon.


Kean, what he said. He explained it better and had a chart to boot.

Echo

Thanks for having my back Echo. Looks like we are seeing it very similarly....D

[kean]

I believe I saw Don say he would ignore a sell if it should materialize, but couldn't find the post. Just want to be sure.

Today wasn't a sell as we already had a SSSS on Tuesday when all seven went on a sell--though Don's interp was to NOT view it as a sell signal. Yes, Don did discuss this Tuesday and related that he felt that getting all seven to sell within the context of a bull market indicated a near-term oversold state ripe for BUYING and added to his position Wed AM. FWIW, I agree with him and posted reasons why, just go back to Tues to see.

Echo

Actually Tuesday wasn't a SSSS, but it was darn close, with the BPCOMPQ just barely missing it. Just for the record . . . . .

Thanks for pointing me to Tuesday. I found the post.

[bankster]

Don, Under what circumstance would a SS sell signal be accepted and not ignored? Would it require a close below a certain level or some other indicator? Thank you.

[Echo]

Actually Tuesday wasn't a SSSS, but it was darn close, with the BPCOMPQ just barely missing it. Just for the record . . . . .

Kean, Tues wasn't a miss, BPCOMPQ crossed to a sell, just barely. Are you sure you have the right settings?

Echo

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[bankster]

Echo, I remember checking stockcharts on Tuesday evening and the $BPCOMPQ was definitely not in the BB. It was a hair above, by 0.10 or so. IYB uses BB(14,1.25) according to his other thread posted here:
http://www.traders-t...?...=9447&st=10

[Not Too Swift]

Interesting. NYMO declining and NYSI turning flat. Maybe it will be a big nothing, but it would seem this is an IT inflection point.