Kevin_in_GA
4,599 posts
msg #78988
- Ignore Kevin_in_GA |
9/10/2009 8:40:46 PM
MON is down only because of its guidance today re: 4Q. It is a solid stock that is likely to rebound - can't say if it will hit the upper band anytime soon, but it should bounce off the lower band. My opinion only, no data to back it up except that most stocks do rebound off the lower BB, not only the IBDs.
In fact, my initial backtesting was done on all stocks, and this system still delivered 80.1% profitable trades and an average 9.25% return per trade (on over 1020 trades since mid-2005).
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Kevin_in_GA
4,599 posts
msg #78990
- Ignore Kevin_in_GA |
9/10/2009 8:44:45 PM
Thanks for the screen.
Would it make sense to screen for stocks with RSI greater than 90?
+++++++++++++++++++++++++++++++++++++++++++++++++++
Not really. Stocks with an RSI that high are soon to drop. If you look at the filter, you'll see that almost all of the stocks that close below the lower BB have VERY low RSI(2) values. for RSI(14), the values are typically below 50 when the BUY signal is generated.
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garberc
13 posts
msg #78991
- Ignore garberc |
9/10/2009 8:53:06 PM
I was interested in your formula for scanning CAN SLIM stocks on TC2000. I use Genesis' Trade Navigator and it uses different terminology. Therefore I am a little lost by your formulas.
Here is a CAMSLIM formula. Not sure if its useful here referring to using the TC2000 screener. Just a thought. I will work on setting up the screen the way you suggested. Thanks again.
C is the current days closing price
C1 plus 0.50 is yesterdays closing price plus $0.50
MAXC250 is the maximum closing price for the past 250 days
AVGV3 is a 3 day moving average of closing prices
AVGV50 is a 50 day moving average of closing prices
With the above interpretation of your formula terms, I had 2 problems which did not make sense--and thus indicates that my understanding is wrong somewhere:
(1) the part that states C < 1.15*MAXC250 would be redundant because if MAXC250 is the maximum closing price for the past 250 days, then C could not be any larger than MAXC250. AND
(2) I do not understand what AVGC50> 320 means.
Would you please be so kind as to enlighten me on your formula as I think it could be very valuable, particularly if it comes up with cup and handle trades.
Thank you for your help.
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Eman93
4,750 posts
msg #78995
- Ignore Eman93 |
9/10/2009 9:39:55 PM
Nice work Kevin....
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Kevin_in_GA
4,599 posts
msg #78997
- Ignore Kevin_in_GA
modified |
9/10/2009 9:49:28 PM
Thanks, Eman. I'm enjoying this one right now. Hopefully a few more stocks will pop up - I've got some cash ready if that happens.
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Kevin_in_GA
4,599 posts
msg #78998
- Ignore Kevin_in_GA |
9/10/2009 9:53:32 PM
garberc - this is not a CANSLIM screen. This uses IBD stocks with ratings of 90 or higher and looks for pullbacks below the Bollinger Band. That is all. No fancy coding needed.
Sorry - the questions you asked are beyond my ability to answer.
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DLB7
43 posts
msg #79035
- Ignore DLB7 |
9/11/2009 10:30:21 AM
Thanks Kevin
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Kevin_in_GA
4,599 posts
msg #79064
- Ignore Kevin_in_GA
modified |
9/11/2009 1:56:50 PM
Just ran the screen after lunch - one stock was identified - AAP (Advanced Auto Parts).
Looks interesting - it had gone far below the lower BB, but has since rebounded (a good sign,in that it probably will not close near its low).
I also looked a little more closely at the 18 stocks that have been identified since I started (those listed on the first post, and CACC, AFL and ITUB which I passed on). In 12 of 18 cases, buying at the END OF THE DAY IT CLOSES BELOW THE LOWER BOLLINGER BAND WAS MORE PROFITABLE.
A 2 out of 3 chance it will be worth more is worth considering.
I guess I'll decide at 3:55 PM today!
UPDATE: I noticed that this has hit the lower BB multiple times over the past year, but had only one instance where it closed above the upper band (on a huge gap up/high volume day that has yet to be repeated). makes me a little more cautious. Also, volume is HEAVY - 6 times normal. May be something wrong here.
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Kevin_in_GA
4,599 posts
msg #79068
- Ignore Kevin_in_GA |
9/11/2009 2:36:37 PM
UNFI comes up as well. Looks good - has done the lower to upper band route three times in the past year, all profitably. Also just got upgraded a few days ago, which seemed to trigger a sharp sell-off. ??
I'll keep this one on the radar - may buy in at the end of the day.
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xxcheck
53 posts
msg #79072
- Ignore xxcheck |
9/11/2009 3:40:43 PM
Hey Kevin.
Looks like they beat the EPS but missed on revenue
United Natural Foods reports Q4 EPS 36c vs. consensus of 35c
Reports Q4 revenue $853.5M vs. consensus of $873.28M. This was back on the 9th not sure if this is already factored in. Otherwise looks good.
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