<OT, kindof...> Hi Robo,
the problem is in the hazy definition of the backtest. How often did Ellis pick a new sector, for example. For me, it's just thin air. Backtesting with perfect hindsight is worse than useless. Strategies that outperform everything with a crystal ball might drop dead without one. Ellis might be on to something (he probably is), but he isn't going to let us poor suckers in on the details. And all those sector rotation sites want our money too! Now isn't that a suprise!
Regards,
Karel