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Guess I forgot to link this further article about the uses of SSKI.
http://tahomaclinicblog.com/iodide/
For Queen Fans:
Jerry, I started out with QT when you guys first started and grew with you as you added more complexity and features. I am SO glad to see that you will be back.
Sorry I haven't posted for a while. Took a break from the market.
The signal switched to SELL in the last week of August and then back to BUY in early September. Still on BUY.
gloe
Thanks for the charts, M.
The signal did switch back to BUY. It appears that the CAUTION signal may be sufficient in and of itself to switch the signal. Still a work in progress.
Does anybody know how to get a year's worth of 60min data for SPY and IWM?
A Basic sub to stockcharts gives you more than that . . .
Hi Duma, thanks for the long explanation. Glad it's working out so well for you.
I was shorting rallies (taking profits and then reshorting) until I got a CAUTION a few days ago. And now we have another gap up.
Since I've been tracking my signal in real time, all but one CAUTION signal resulted in follow-through in the same direction. Just noting this development as I continue to refine this signal.
I have great admiration for Duma sticking to his 60 min signal which does work very well in this choppy market, but my goal was to find a way to make good profits without too much intra-day trading, other than maybe watching the open and close.
gloe
Yeah, I got the same e-mail. They will not make any improvements to it but it is not going away. At least not yet. I do still use it.
True.
The signal has remained on SELL . . .
daily
From the iBox:
Mark Douglas: The 5 Fundamental Truths of Trading
1. Anything can happen. 2. You don't need to know what is going to happen next in order to make money. 3. There is a random distribution between wins and losses for any given set of variables that define an edge. 4. An edge is nothing more than an indication of a higher probability of one thing happening over another. 5. Every moment in the market is unique.
I don't KNOW. Nobody knows. Usually the first test of the 50 or 200 day will hold. After that it's a crap shoot.
You will recall there were times that I prematurely took profits . . . This time I decided to hold the TZA since
I had a good entry and the flat CO as IWM moved up was a real giveaway for me.
Nothing is perfect. And nobody knows what the market will do tomorrow. You don't have to KNOW what the market will do in order to make money.
The signal has remained on SELL.
This last little rally (IWM) off its 50 day MA was accompanied by a flat CO. Good indication to short the rally.
The signal is still on SELL, but that doesn't mean that I ignore what the market is doing. I always watch support and resistance.
Toward the end of June, IWM tested and held its 200 dasy MA and bounced strongly off of it. On July 12 IWM tested its 50 day MA and now continues to bounce.
I never ignore S/R.
gloe
The signal is still on SELL. But look at IWM's 50 day MA. That's where I took profits on my TZA yesterday.
Sorry I haven't been around much.
Sorry, SELL signal on July 9.
Yes, I said that. It is an overbought BUY signal.
Still on BUY.
Very nice Murray.
The signal switched to BUY but it is an overbought BUY. No, I'm not happy with the way this has played out.
The Vegas was always my favorite pattern.
I don't really know how to answer you. The signal is on SELL but indicating the possibility of more UP. Which if it happened, would mean the SELL signal failed.
The signal is on Caution. No kidding.
You're so right.
Still on SELL.
The signal is still on SELL.
If you see no benefit in my signals then you don't have to pay attention to them.
The signals that I am posting don't represent my actual trading. I went long TNA mid-day on 5/21 and got out with about a 10% gain.
It is true that this recent signal if taken on "next day open" went basically nowhere.
When the market is choppy, a 30 min or 60 min system such as yours will do better than a daily signal.
Thanks Murray.
I guess we will see.
Well, those resistances sure held.
A bunch of sling shot shorts also.
The signal is on SELL, but this is a difficult area and I need to watch it closely.
And it's certainly been an ugly day.
ah yes, window dressing!
Still on BUY, but the indices are hitting important resistance areas.
It's hard for me to figure out your chart, but I do see IWM underperforming the big caps, and agree that is not a good sign for bulls.
Still on BUY. But beware the Fed announcement tomorrow.
Thanks for the comment. You're welcome.