10 replies to this topic

[IYB]

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

[rotrot]

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

[zoropb]

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

[thespookyone]

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.

[inamosa]

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

[milbank]

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

[IndexTrader]

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

[IYB]

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

[IndexTrader]

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

[vitaminm]

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

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