EWZuber
1,373 posts
msg #31494
- Ignore EWZuber |
3/22/2004 5:43:42 PM
wallman
We have no control over stocks either unless one represents an institution or deals in low priced, low volume stocks.
IMO, it makes a lot more sense to trade the market trend. Its much less tricky and in the long run more profitable.
One could have randomly shorted stocks on a dart board Friday and have easily netted from 5% to 15% without a screen or much effort.
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wallman
299 posts
msg #31496
- Ignore wallman |
3/22/2004 8:11:51 PM
Zub,if that is what works for you fine,you know i always respect your opinion,my point is that for me i have found filters that have worked over the last 3 and a half years no matter what the market conditions,of course one must be serious about it and keep a real tight watchlist which i know is tough for a lot of folks to do....example if you go back to my 3 - 15 post you will see 4 stocks on my squeeze watch that have had big runs with a HOLD OF GREEN,...ELTK,NSOL,SWKE which has doubled since then and XTCI a triple since then with a 127% gain today on one of the real nasty market days,this stock actually opened red and could have been easily caught on green hold,it closed at .25 and it hit a hod of .37 on 550k shares traded .....the only point i'm trying to make is that if you have the right filters it is possible to make good money no matter the market conditions without the hassle of trying to guess the market
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EWZuber
1,373 posts
msg #31499
- Ignore EWZuber |
3/23/2004 12:40:36 AM
wallman
OTCBBs have little to no connection to the NASDAQ market since they have no institutional involvement. I can see what you mean by having control. These 10C stocks could easily be moved by a few individuals with some copitol.
It would seem that screens may not be the critical factor here.
Trading on an ECN as I do there is no access to OTCBB stocks. I'm not much for them anyhow.
Friday I picked up MWAV. It tested the 15 HR.MA with +xover and started to bounce but ended up violating that support. It tested the 25HR.MA with +xover and this morning bounced up off that support and gained 26%. But now I had only one trade left and if it was necessary to close it today I would get penalized and kept out of the market for a week so i passed it up.
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EWZuber
1,373 posts
msg #31500
- Ignore EWZuber |
3/23/2004 12:49:33 AM
wallman
you may find this sector screen interesting
http://cbs.marketwatch.com/tools/industry/default.asp?siteid=mktw&bcind_ind=bc_all&bcind_period=3mo
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EWZuber
1,373 posts
msg #31501
- Ignore EWZuber |
3/23/2004 2:19:28 AM
MFCO...Testing the 25 HR.MA. @ $2.60 as support and is oversold on Hourly chart. Looks good. Little selling volume and ample upside potential left on the daily stochastic indicator.
JMHO
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chessnut1
58 posts
msg #31503
- Ignore chessnut1 |
3/23/2004 6:12:11 PM
I love using trendlines. The chart of every stock that I own has a trendline or two I have drawn on it, plus the EMA13 and 20 locked in. The support lines provide an added bit of information, and inspire confidence when they are respected and concern when they are violated. What I find fascinating about your recent posts on filter-based picks with green entry-signal, wallman, is that your filters seem to have a way of either finding stocks at fundamental support levels or at key psychological reversal points that are not readily discernable through TLs or common MA's.
Many of the returns from your "box" filters for instance find stocks that have pulled back from a recent new high and then when consolidation is "sufficient" (which may or may not have any relation to a TL or MA), the bounce occurs. But while my trendlines may not contribute much in some of these cases, the practice of waiting for "green" to hold almost always does.
Thanks for your filters and the picks that you post from time to time on this thread. Your box filter, which I ran on Monday, gave me HAUP. I got in Monday on green that held. Today it popped for over 25%. In yesterday at 5.41, out near eod today at 6.85. Indebted to you and your filters.
--BJ
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EWZuber
1,373 posts
msg #31505
- Ignore EWZuber |
3/24/2004 12:27:49 AM
chessnut1
Box filters also validate trendlines and stochastics. HAUP was a classic example. The application is most easily seen on the hourly chart.
On 3/22 stochastics +xover at about 11:30 AM then there is a break of TL Resistance at about 1:30PM @ ~ $5.41 and finally a test of the 25 HR.MA. at $5.24 about 4:00 PM where it bounced.
Judging from the way you played the stock you probably saw this also.
Very nice work.
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chessnut1
58 posts
msg #31506
- Ignore chessnut1 |
3/24/2004 12:56:01 PM
Zub:
I use the 15 min chart setting routinely, and saw the stoch cross with HAUP at 10:45AM on the 22nd. Just after that I got in. And you are correct, it coincided with a bounce off the support line that I had drawn at around 5.30. Upon closer examination of my entry I see that I jumped the gun on the "turning green" cue, as I sometimes do when there is a good recovery from the day's low (tail formation) and the stochs support an entry.
--BJ
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EWZuber
1,373 posts
msg #31507
- Ignore EWZuber |
3/24/2004 4:25:11 PM
MFCO was a very nice trade today. Bouncing up off the 50 HR.MA on the Hourly chart and topping out almost perfectly at Trendline Resistance on the Daily chart.
Wouldn't mind a few more of these. This one came off a RSI 75 ~ 90 screen then screened out by hand.
I have been using this one along with 'stocks near their 20 day highs' screen with the best success during this NASDAQ Monthly chart distribution phase. These help to find where the money is going in a declining market.
Also CCUR tested an 18 Month Supporting Trendline yesterday @ $3 ( and bounced a tad higher ) as expected and in perfect concert with the NASDAQs test of its 200 DMA.
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wallman
299 posts
msg #31508
- Ignore wallman |
3/24/2004 7:13:17 PM
Zub ,good trade on MFCO , i as well had a great trade on MRKL,you'll remember i posted that i was in at 1.28 last week,i took 32% today at 1.69,also in that post i said i'd be in MDDM on green hold which i was at 2.80,out the next day at 3.75 for 34%,will watch this one again tomorrow for re-entry on green hold,price is right between ema13 and ma20 where i love my squeeze watches to be
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