Quote from sandygray66:
With all due respect, and I do enjoy your thread considerably, I have a hard time understanding how the "ball" "nailed" this morning with a call for "strong" market action.
Looking at the YM, it closed at 9:40 (the time of the morning call) at 12047. It proceeded to quickly drop -70 pts. from that time to 11977. The highest it ever got this morning was 12071 (+24 pts.), and if you held until the next call to go short at 1:05, you'd have been -18 pts from the morning's call. I'm not sure how that's considered "nailing it".
This afternoon the YM rose to 12115 from the 1:05 call to short at 12029 (-86 pts.) It has pulled back significantly since then, but hasn't yet reached the entry price at 1:05. If the idea is to hold all the way until the next call tomorrow morning, at 9:40, then I suppose the jury's still out.
As I am not a subscriber to the "ball" (although I've gone through his website thoroughly), perhaps I don't understand how to use the ball's calls properly. Is one to wait for the market to go 70 or 80 pts against the direction prescribed by the ball before taking an entry in the direction of the call?
Sandy, read my post above... there are several ways the author says to use the ball and so results per subscriber will vary dramatically.
For a newbie $29 is not a bad deal but they will most likely get their heads handed to them because of the ambiguousness of the method.
For the sake of the experiment I took all calls immediately and placed 15% stops.
This morning was a scratch and this afternoon it was stopped.
Bottom line, if you must use it is it is OK and for $29 better then most shite out there (if you need it).
Personally, I rather rub my own balls
