Coral, I didnt post that but it was in a response to my post.
Re: what is the 7-10 rule? Harold BEANS
Posted By: Free-Lance-Trader
Date: Wednesday, 14 July 2010, at 10:23 p.m.
In Response To: what is the 7-10 rule? nt *NM* (Harold)
its a simple rule
after 7 days of higher highs and lows on the daily charts
and the mkt breaks the previous days low you go short and stop the high... maybe 1 2 or 3 cents above it..
also works the other way around as a buy..
if there is an inside day you dont count it.
if it goes into day 11 dont do it its a run away mkt..
the sp500 mkt had this rule kick in june 21 for a 120 point sell off ...