EWZuber
1,373 posts
msg #28474
- Ignore EWZuber |
9/11/2003 2:59:59 AM
This filter looks promising. It looks for stocks that have stochastic cycles that have converged in their accumulation phases just about at the same time. A little longer term trade is possible from this one I suspect ( probably several months average ). To Find the best of the returns for this filter I just look at the earnings on Bigcharts.com. They are noted on the charts. This makes it fast and simple.
Show stocks where Weekly Fast Stochastic(5,3) Fast %K crossed above Fast Stochastic(5,3) Slow %D within the last 1 Week and Weekly Fast Stochastic(5,3) Fast %K is below 50 and Fast Stochastic(5,3) Fast %K crossed above Fast Stochastic(5,3) Slow %D within the last 1 day and Fast Stochastic(5,3) Fast %K is below 25 and Average Volume(90) is above 100,000 and close is between 1 and 15 and date offset is 25
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xplorer
257 posts
msg #28496
- Ignore xplorer |
9/11/2003 8:17:18 PM
... just to make it eaier to give this one a try !
( ... also I reset the offset to "0")
Very nice work !
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EWZuber
1,373 posts
msg #28523
- Ignore EWZuber |
9/12/2003 12:22:49 PM
xplorer
TNX, I think that maximum 50 stochastic value on the weekly was a good addition. I back tested this one in one day incriments for 30 days and it returned 68 stocks total. 57 were winners and 11 were small % losers. The best day was day 27 when the market had a stochastic fast line cross above slow line on daily charts and also had a weekly stochastic fast line cross above the slow line right around the same time.
Apply a little manual screening to the candidates and it looks usable.
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txtrapper
548 posts
msg #28539
- Ignore txtrapper |
9/12/2003 8:26:52 PM
EWZuber what do you think of this stock?
BCON... take a close look at it on a 3Y/W chart, then switch to 1Y/D. It's in a top industry group right now and it came from the Electric Utilities Group up +0.45% today! Looks like if it gets thru resistance @ $1.00 it has a way to go. Any other members that would like to comment, please do. I am researching early entry points for breakouts. I know you are big on Stochastics, I'm not to big on Stochastics, other friends are big on MACD, but I was taught to watch RSI, MA, price and volume for my entry points.
txtrapper
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EWZuber
1,373 posts
msg #28542
- Ignore EWZuber |
9/12/2003 9:18:58 PM
txtrapper
I'm wondering how you found this stock. Fundamentally it's going nowhere, has no significant revenue, has never made any money but at least isn't laden with a bunch of debt.
This one is a huge speculation. Look at the bottom of the URL page at the 'Current Assets' column.
They are using them up just to stay alive.
http://www.smartmoney.com/eqsnaps/index.cfm?story=financials&symbol=BCON
In August insiders were selling like crazy. $1.6 Mill. in stock. At less than a buck a share thats a fair amount of stock. This tells me they don't expect much in the future for the company.
http://www.smartmoney.com/eqsnaps/index.cfm?story=insiders&symbol=BCON
They are expecting higher losses next quarter too.
http://www.smartmoney.com/eqsnaps/index.cfm?story=revearnings&symbol=BCON
Technically it looks interesting for a quick pop.
If you bring up a candlestick or bar chart and draw a trendline from the high on 8/20 to the high on 8/28 & 9/10 and extend it to the present time. You will see that on Thurs. the stock actually did break trendline resistance then sold off Friday to test it as support and confirmed it as support for now.
This thing could really take off on Monday morning just on the technicals alone.
I wouldn't hold it though. I would sell on any spike that is so violent it doesn't produce a supporting trendline. Cause then it has no support to hold it there.
If it does produce an orderly ascent, I would sell on a break of trendline support.
JMHO
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txtrapper
548 posts
msg #28544
- Ignore txtrapper |
9/12/2003 9:56:06 PM
Clear, consise answer, thanks. tx
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JoeGrossinger
165 posts
msg #28546
- Ignore JoeGrossinger |
9/13/2003 1:50:21 AM
I think BCON is basing.
Its not going anywhere. RSI(14) is in the middle and does not indicate anything.
RSI(2) is also at 50 and that is boring
MACD is indicating a very strong sell
Tons of resistance between last close and .75
Bollinger Bands are about 100 miles apart
Volume and with that interest has shrivled
The stock has been declining without being overbought
The weekly chart is interesting but not for this coming week.
jmho&2cents
http://www.koliga.com/forum/index.php?c=5
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txtrapper
548 posts
msg #28549
- Ignore txtrapper |
9/13/2003 11:58:54 AM
Thanks for being speaking frankly Joe G., we know now is that is basing.
Now let me point out "positive things" about BCON. Low debt, low entry price, triple weekly volume increase, RSI(14)is rising, stock is above it's MA(30) on the weekly chart "big plus", OBV looks like a Cobra dancing.
I know one thing for sure, it's got a long way to go up, and a little way to go down, I'm buying xx,xxx shares of BCON on Monday. The increasing RSI, triple volume and OBV tells me something that others do not see.
txtrapper
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txtrapper
548 posts
msg #28550
- Ignore txtrapper |
9/13/2003 12:10:06 PM
Joe G. look at RSI(14) for BCON on a 3Y/Weekly chart. I think you will see what I am talking about here. And the volume, Stan Weinstein, quote " I look for the following: either a one-week volume spike that is at least twice the average volume of the past month", page 104 of his book.
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JoeGrossinger
165 posts
msg #28551
- Ignore JoeGrossinger |
9/13/2003 12:46:32 PM
Well, weekly charts do not take precedence over daily charts.
All I know is that for every buyer there is a seller and that is what it takes to make a market.
We shall see next week. Good luck to yah.
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