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I’ve referred to the Daily Sentiment Index quite a few times as a fantastic contrarian sentiment indicator. If you’re unfamiliar with it, check out that link for some background information. It has been one of the most useful contrarian sentiment indicators throughout the recent bear market and the cyclical bull rally that followed.
The DSI is used by trading desks, hedge funds, institutional investors, etc. across Wall Street and the globe. But it is still relatively unknown to most traders. That’s probably because of the esoteric and proprietary nature of this sentiment indicator. Well, that’s about to change.
For the first time ever, Jake Bernstein, the creator and keeper of the DSI, is pulling the veils off this indicator. Next Thursday, March 11th 2010, Jake will be giving his first webinar ever to explain not only the indicator itself but also exactly why it is so useful and how specifically to use it to improve your trading.
As a bonus to the attendees, he will also be giving away for FREE the entire historical DSI data file (back to 1987 when it was started) PLUS a free month of updates so you can create your own DSI charts, play around with the data and come up with your own flavor of DSI derived indicators. Personally, I think that this by itself is enough reason to attend. Especially when you consider that the DSI data covers not only major equity indexes around the world but also currencies, precious metals, commodities, and more. Click here to reserve your spot.
But of course, you’ll get more out of the webinar. This isn’t just a 15 minute fluff piece. You better hunker down with some snacks and your beverage of choice as Jake goes through the following points in his 2 hour long webinar:
- What is contrary opinion and why does it work?
- Understanding the classic methods and writings about contrary opinion theory
- Why the DSI works
- How we measure contrary opinion
- Examples of each approach and their strengths / weaknesses
- How the Daily Sentiment Index (DSI) works - why so many top traders use it
- Timing and sentiment = the best combination
- My method of using the Commitment of Traders report for big moves
- Setup - trigger and follow through with DSI and other contrary opinion measures
- Informal methods of evaluating contrary opinion at major tops and bottoms
- Maximizing results with market sentiment measures
- Clear and concise examples of all methods
- When NOT to use contrary opinion
- When is “oversold” valid?
- When is “overbought” valid?
- How to use the CoT Commercials data the right way and with timing
- Why the small trader isn’t always wrong
- Why the large trader isn’t always right
- Timing considerations and profit maximizing strategies with contrary opinion and
- much, much more…
Here’s a recent chart of the S&P 500 index with corresponding DSI indicator:
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