| StockFetcher Forums · Filter Exchange · bollinger bands | << 1 ... 6 7 8 9 10 ... 23 >>Post Follow-up |
| wallman 299 posts msg #26381 - Ignore wallman |
5/3/2003 1:55:51 PM iHEY DD.....good to see you're studying,good q's,first i am not sure how you would phrase what you are looking for maybe "price decreased from 1 day ago",if a stock opens green then 15 mins later is trading below previous days close if it moves back up to show green by 10:30(just my preference,you can wait as long as you like,then if you still have an opening i would definitly buy),many times you will get a much lower entry this way putting you a couple % ahead at the start if the stock starts to run,there was one a few days ago that opened up .20 then 15 mins later was down .10 but came back to up .05 at 10:15,i believe it was on a $5 stock,so you saved yourself 3% at the entry!..... as you pointed out with KOPN the top shadow is longer then the tail,which NORMALLY would be a throwout for me,BUT it had 2 strong points going for it that i like to see,one was the body was entirely out of bb's and the other being the huge body before it and a big body next to that,if you look back you will see that this is not the way this stock normally trades,i was taught a long time ago that bb's are an expression of the stocks extreme price limits(at that current time)so therefor if any other extreme occurence is going on at the moment such as larger than normal volume,very long tail,or big bodys and/or bodys out of bb's, it has a greater(and quicker!) tendency to reverse the direction of the price movement,in this case back up,returning it to more normal conditions,so body out of bb's and large bodys combined to outweigh the smaller tail making KOPN a play for me,that's what i mean when i say over time you will get a feel for it,since all your concentrating on is getting good at reading bottom bb's moves it shouldn't take long,to get the max out of this system that's all you need,let others worry about the middle and top bb's,you don't need to with this system,like you've heard ,just do one thing but do it well......if more than one stock is green by 9:45 i base my decision on which one to buy entirely on the ranking system i described in my 4-29 post,it takes all emotion out of the picture which for me is perfect,but you may want to trade the one that you just looked the best to you for some reason,but that never worked for me ...if you have any ?'s you know you're welcome to ask......see ya |
| 19546 9 posts msg #26382 - Ignore 19546 |
5/3/2003 1:58:03 PM would putting 2% above low as a filter make for a better tail |
| wallman 299 posts msg #26383 - Ignore wallman |
5/3/2003 2:29:40 PM 19546, putting 2% above low should give you a longer tail....if you are thinking of adding this to the bb filter and only charting those matches you will be doing yourself a great disfavor as every situation is different as described in the case of KOPN, look at BPUR on 3-25..HUGE body,HUGE volume,tiny little tail, a 1% or more above low add-on would not have caught that stock...remember you are trying to increase your odds of big gains ...see ya |
| dabonenose 26 posts msg #26387 - Ignore dabonenose |
5/4/2003 11:30:23 AM Wallman,,,only got one stock on the screen this weekend, however it fills the criteria of a long tail, etc. Also the chart has a great shape to it(channeling in uptrend, with higher highs and higher lows). I think it bodes well for Monday. I'm getting the feeling that the screens lack of available candidates is because the mkt is getting ahead of itself. I will also consider a re-entry of PCS, as long as it doesn't dip below 3.46(5% stop point if I was still in). As you've stated earlier,,,"i know these stocks from past trades,that's the really neat thing if you stick to this system long enough,you'll build up a list that really react well to bottom bb's". I understand you have accumulated this list over time, however if you don't mind, could you post some of the stocks you would avoid and those that are your favorites. This would give myself and others some flags to keep a special eye on. If you would rather not provide that info, I understand. Dab |
| dabonenose 26 posts msg #26388 - Ignore dabonenose |
5/4/2003 11:33:41 AM Wallman,,,sorry, wanted to post the only stock I returned in my scan was PSO. I bumped vol down to 50K and price up to 15. When I bumped up the price I got 1 other stock, but it's chart looks weird to me and erratic(lots of gaps). Dab |
| wallman 299 posts msg #26389 - Ignore wallman |
5/4/2003 1:46:44 PM HI DAB, yeah just one play probably for the reason you stated,you did right by bumping down volume to 50000,i did too,glad you posted so i can explain what i do in a case like monday when we have only one stock,i will go back 1,2,then 3 days and see which stocks are still down with 100,000 vol,i only found ROXI,vol good but tail not,then i bumped vol down to 50,000 and did the same,got RITA(no,had an up day),CLST(no,had an up day),DCEL which i will watch for green at open(great tail,good vol)but of course will watch PSO first as it was a play from the original screen,as for the re-entry of PCS this is exactly what i meant by getting the "feel",also PCS is on my list of "good" plays,the other advantage of keeping a journal(alphabetical works great)is you never know who will show up on those bump up or go back days.......i really don't have a "bad list",no real consistant failures as of late,which brings me to another point,this method is hotter now than i've ever seen in past 19 months,it's lasted almost 8 weeks,past 2 hot periods that i've seen lasted only about 6 weeks so please don't expect it to keep up this pace,not to worry though as normal times still can bring very nice returns.....i will send off my "good list" this evening,i have to hunt around for a few missing pages as my cats love to play with paper(tip:if you have cats like that,put your list in a drawer!)...see ya |
| wallman 299 posts msg #26398 - Ignore wallman |
5/4/2003 9:51:10 PM DAB, here is the "good" list.... AEIS ASYT ADIC BPUR CMNT DATC DTAS FDRY GNTA GTI GGNS IONA IO MUSE MDR MONE MTON NOR NXTP ONNN PCS PLCM PLXT REMC TRDO TIVO VAST XING .....these have either reacted well to bottom bb's and/or to abnormal volume increases,a combo of both can result in better than average gains,these have been taken from the past 19 months that i have followed this system and are the most recent to have been seen again on the match lists,many have done well again and are now well away from bottom bb's,save this list as most will be back at the bottom again,moral of the story,that's why i stick to my stops!.......if you are wondering if it's just a coincidence that these stocks have done well at the bottom,it might be,but i've read a number of times that mutual funds also have a watch list of stocks that they feel that are attractive buys when they reach oversold conditions,and bb's are many funds leading indicator in triggering a buy, if that is true than you've got one more little edge,the stocks on your "good" list may be the very same ones that the big guys are following, HAVE FUN |
| dabonenose 26 posts msg #26400 - Ignore dabonenose |
5/5/2003 10:54:35 AM Muddy,,,tkx,,,I didn't like the table fare today, so I re-enterd PCS. I also tried a play on a potential double bottom in SONE. My stop on SONE is set just below double bottom support at 3.65. On double bottoms, I don't give them more than two days to bounce, unless vol. is building. Tkx for the list, I appreciate it. Dab |
| petrolpeter 439 posts msg #26401 - Ignore petrolpeter |
5/5/2003 2:05:26 PM Hi wallman,Have been enjoying your excellent posts.Ran your scan yesterday and came up with one symbol,so looking to have more to choose from I added a little to your scan{Show stocks where price touched lower bollinger band(20) and Average volume(3) is above 60000 and close is between 1 and 25 and close decreased for 3 days},seems to back-test OK.Off this scan DMPI and CCCG are acting well.I bought SONE from one of my other scans(RSI @ %R combination,petrolpeter)and was up over 10% until I was bushwacked without a stop down to support,I sure hope that Double Bottom Scan works!LOL That VSAT chart is fantastic,it points out the power of the bottom bollinger. |
| seweiss 2 posts msg #26439 - Ignore seweiss |
5/8/2003 8:59:28 AM Wallman, I want to also lend my thanks to you for your generosity in describing your trading system. I read through it and found it very useful. A couple of questions: I have read in other places that Bollinger Bands can also be used in conjunction with Money Flow and On Balance Volume. These two, along with RSI measure data in three different ways from each other and from Bollinger Bands so they can act as a divergence or confirmation signal for buys or sells. Have you tried these? Also, I have read that, when the price falls below the lower Bollinger Band, an RSI below 30 would indicate a possible trend reversal and would signal a buy. I notice you use an RSI of 75 or higher for a price at the top of the Bollinger Band for a possible sell signalbut do not use RSI at the bottom as a possible buy signal. Why? |
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