Since year 2000, there have been 12 earlier cases
7 would have been profitable:
4 profitable after a pullback to lower 3% band.
5 produced significant losses.
Conclusion: look for signs of a reversal back up after a pullback following
initial advance. It is best not to buy on initial signals near 21-dma.
Usually, when a big advance is going to follow B77 immediately, Peerless will already have
given another Buy.
The track record of B77s before the year 2000 was much better.
There were 12 cases of B77s from 1929 to 1999. 11 produced good gains.
In 10 of these cases, buying on a pullback to the lower 3% band would have been profitable.
The pervasiveness of computerized day trading bankrolled by big banks and
hedge-funds has damaged the reliability of this signal. It must be treated
as a risky short-term buy.
Formula:
For i = 23 to RN
seven$ = ""
If la(i) / ma(i) < .926 Then 44454
If la(i) / ma(i) > .993 Then 44454
If ((la(i) - la(i - 1)) / la(i - 1)) > .025 And la(i) / ma(i) < 1 And newipxxx(i) > -.03 Then seven$ = "77": pi = i: BuyB7arrows (pi): i = i + 6
seven$ = ""
44454 Next i
How did this signal work before the year 2000? This will be shown in a few days.
To produce this signal on Ovtober 15 update, put a DJI chart on screen and choose
Signals 1 + 2.5% one-day Jump.;
