IYB, The seven sentinels gave sell on the close Wed. Despite the rally on thursday they stayed on a sell. In hindsight do you believe this was now a valid signal? Do you think you might have been over thinking your own system to justify your current position? I ask because I think this is one of my biggest problems as a trader(over thinking my own system to justify my current position)
Question For IYB
Started by
saltlake
, Apr 13 2008 02:40 PM
7 replies to this topic
#2
dcengr
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Posted 13 April 2008 - 02:45 PM
If you apply mechanical set of rules to IYB's seven sentinels, you will find that its performance isn't that good. At least for the # of years I've back tested it. Apparently IYB applies it in context, which are a bit more subjective.
Qui custodiet ipsos custodes?
#3
relax
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Posted 13 April 2008 - 02:53 PM
hasn't the dollar strengthened quite a bit today
eur/usd below 1.57
there should be a big gap tomorrow in the futures based on that "big" move
#4
tuffy88
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Posted 13 April 2008 - 02:58 PM
Not sure how Don would apply it to the 7 sentinels, but the lack of volume Friday should give anyone pause. The big investors (as opposed to traders) were sitting on their hands. Not buying or selling either.
Charles
#5
Jnavin
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Posted 13 April 2008 - 08:05 PM
It's tricky, Tuffy, because there's usually less volume on Friday...so an adjustment is probably required.
SPY volume expanded. COMP volume failed to show up.
I think the GE situation sucked a lot of volume out of the rest of the market which may re-assert Mon/Tues.
#6
deacon
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Posted 13 April 2008 - 09:11 PM
the low volume on friday is bullish, perhaps a perfect set up to op-ex week
TRIN 2.01, bullish, put/calls wildly bullish
traditional mcclellan summation had it's first red day in quite awhile, still printing +500, bullish
$BPCOMPQ in iyb7 no sell signal, very strong
http://www.traders-t...?showtopic=9447
dollar futures now printing 72.54, +0.47, and that is also bullish SPX, we've had a good correlation this year between them
so we can wait out the asia and europe selling, our morning low is a definite option scam-ex week buy!
TRIN 2.01, bullish, put/calls wildly bullish
traditional mcclellan summation had it's first red day in quite awhile, still printing +500, bullish
$BPCOMPQ in iyb7 no sell signal, very strong
http://www.traders-t...?showtopic=9447
dollar futures now printing 72.54, +0.47, and that is also bullish SPX, we've had a good correlation this year between them
so we can wait out the asia and europe selling, our morning low is a definite option scam-ex week buy!
#7
IYB
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Posted 14 April 2008 - 12:27 PM
Hi SL. Just saw this. All I can tell you is that I remain long with stops, and am looking for a set of diverhences followed by a sell signal, at which time I will reverse. We now have the internal set-up to generate the neg divergences on further rally..... so I patiently wait.
If the market somehow sandbags me with downside follow through without setting up in the way I expect--then my stops will take me out.
Best, 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
