oldsmar52
104 posts
msg #30088
- Ignore oldsmar52 |
12/1/2003 12:32:41 PM
I just joined this site today and was wondering if anyone would be willing to share any suggestions. I'd like to filter stocks that are/will soon bottom out. Is anyone willing to share what they've found to be good filters?
Thanks for your help!! Oldsmar
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JoeGrossinger
165 posts
msg #30090
- Ignore JoeGrossinger |
12/1/2003 3:25:29 PM
Try looking at all the filters already posted in the filter exchange forum.
Tons and tons of good stuff.
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chessnut1
58 posts
msg #30091
- Ignore chessnut1 |
12/1/2003 7:13:08 PM
Oldsmar,
Sounds like you'd find great interest in the Muddy Method trading group. We look for stocks that have been going down and are at/near their bottoms. We use what's called the Muddy Method filter as our flagship filter.
You can read more about this in the thread begun by wallman (aka Muddy) entitled bollinger bands-- on page 2 of the Filter Exchange section. Or, you can dive right in and look at the posts and files in the Muddy Group itself, which you can find at
http://groups.yahoo.com/group/stockfetcher/
--Come join us, it's a very informative and supportive group.
--BJ
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keithray
13 posts
msg #30096
- Ignore keithray |
12/1/2003 9:54:12 PM
Oldsmar,
You are at the right place to be asking for a filter to pick stock bottoms. The filter is called the Muddy Filter:
SHOW STOCKS WHERE CLOSE HAS BEEN DECREASING OVER THE LAST 3 DAYS AND AVERAGE VOLUME(90) IS ABOVE 100,000 AND CLOSE PRICE IS BETWEEN 1 AND 10 AND PRICE TOUCHED LOWER BOLLINGER BAND(20)
Just copy and paste it into StockFetcher and run the scan. However, the pickings right now are slim. Have some patience, and when the market takes another dip, there will be plenty of stocks to choose. And, as Chestnut said, go join the Yahoo Stockfetcher group at http://groups.yahoo.com/group/stockfetcher/ . READ EVERYTHING THERE, ESPECIALLY THE FILES, which are in the menu on the left side of the Yahoo group page.
Most folks here like stocks in the $1 to $10 range. At first I was very skeptical about these low priced and often low volume stocks. And, if you pick up a stock trading book the author will tell you not to try and pick tops and bottoms. But, that is where the money is made. And, you can pick tops and bottoms. No...you cannot pick them everytime. There is no method of trading 100% accurate. It is all a game of probabilities. The Muddy Method is a high probability method of picking stock bottoms.
At the current time, the number of picks returned by the Muddy filter is slim. To give you an idea of the number of stocks returned by the filter, just click on this chart link: http://www.geocities.com/keithray/trader/charts/nasdaq.gif
The numbers at the top of the bollinger band are the number of stocks returned by the Muddy filter when the Nasdaq has reached the upper band, and the numbers at the lower band are the stocks returned by this filter when the Nasdaq is at the lower band. You can see that there is a significant difference. You could spend your time wisely by reading everything on the Yahoo Group Forum...learn everything you can about this method of trading and how to filter for stocks. When the NASDAQ makes another dip, there will be lots of opportunities.
Keith
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TheRumpledOne
6,411 posts
msg #30102
- Ignore TheRumpledOne |
12/2/2003 5:50:53 PM
Keithray...
You left out a very important component.
Let me suggest you study more about the Muddy Method BEFORE you post about it.
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