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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: SE who wrote (40258)1/30/2000 8:45:00 AM
From: Tom Trader  Read Replies (3) of 44573
 
Good morning Scott

We are having more snow -- this time some sleet and freezing rain, to boot. I must confess that I wondered yesterday -- for a brief moment -- about the wisdom of moving from Southern California! Well, it is supposed to warm up next week, so all should be well:)

Thanks for the link; my gut feeling is that we will rally next week after an initial spike down. I am basing this, in part on the fact that my system is now flat and we are about 3% below the level that it went flat -- which I must add exceeds the extent of the move that occurs after the system goes flat. If we continue down from here, it would represent a different type of decline than the ones that we have had in the past on prior sell signals.

I notice that the piffers are getting sell signals galore from their various indicators. I was wondering if they have a historical record, over past 10 years or so, of the entry and exit levels based on the spx or some other market index of where their main systems produced buy and sell signals. It would be interesting to see how much profit/loss is generated by those signals over time. Perhaps I'll post to Tom Dorsey to ask him if such a record is available.

My sense, is that the downside is limited at this point, though I really would like to see the market sell-off hard so that the excesses can be wrung out and for sentiment to become more conducive to a sustainable rally. It will also enable me to go long on a few stocks at prices that would be more palatable:)

Iqbal has a great record of calling significant bottoms in the market -- waiting for him to start warning about a bhumbo!

Have a good weekend!
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