jpete
13 posts
msg #48864
- Ignore jpete |
12/30/2006 3:45:41 PM
What was the reason or reasons ZICA moved the way it did? Did you know before the stock opened on news??? or your charts or feelings?
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wallman
299 posts
msg #48869
- Ignore wallman |
12/30/2006 8:04:36 PM
Jpete,
I had no clue they had news,because i really didn't care much, until i read your post here and was curious.
I just went to bigcharts.com and read the Market Wire news and just had to laugh to see the times the NEWS broke.
News broke according to that article 12/22 at 11:18 and 11:19.
Here's an excerpt from my blog,notice the time I alerted it,11:20,no more than 2 minutes after breaking news.Read the importance of knowing former runners,that's why i can jump these kind while others are busy reading the news.
Saturday, December 23, 2006
THE IMPORTANCE OF KNOWING FORMER RUNNERS
I know most folks that have traded for years have a list of stocks in their heads that once they start to run on volume can just take off.So this post is mainly for the newer traders that haven't been around long enough to have that list in their heads and the feel for how they can trade.
It's my opinion that newer folks spend too much time on too many filters and the backtesting of them.
I feel more time should be spent scanning for stocks each night that gained say over 10% that day on larger than their average volume and charting them to see under which circumstances they ran,such as out of the ema13/sma20 UBB pullack zone,very low rsi2,very low fast%k14,UBB flag pattern or any other indicators you may favor.
Now please check this out:
(11:20) Muddy: ZICA low vol runner at 1.01
This is what I said in the live chat Friday.I knew this stock from the past as a low daily average volume stock that had the ability to run once it started to go with volume as it was starting to do at around 11:20 p.m when I saw it on the high of day list.Look at the 1 day/1 min chart for it on Fri, you'll see I saw it almost at the start of it's run.This because I stay glued to the HOD list most of the time I am in front of the computer trading.This is because it works for me,it's my way and if you find your way then you should stick to it until/if it starts to fail.
(11:42) Muddy: 1.37
(11:47) Muddy: more vol spikes!!
(11:47) Muddy: 1.46
After it runs from $1 to 1.37 it's getting more volume coming in at a furious pace,spiking,in 5 mins it's at 1.46 running off to an unreal hod to 2.30. If you chart ZICA you will see why i remembered it,huge white candles on 2/01 3/20 7/19 9/27 plus 4 more times in 2005. I might have trouble even remembering what day it is but i don't often forget those kind !
Here's just another example of knowing stocks that can run,especially lower daily average volume stocks that are picking up abnormal volume.
Notice that both ZICA and ATEA were just crossing even dollar marks which often make an entry for me much easier to decide:
(11:24) Muddy: low vol but ATEA can run here
(11:25) Muddy: 6
Exactly 1 hour later:
(12:25) loki3361: Your ATEA at 7
(12:29) Muddy: yes!
Minutes later it hit hod 7.37
Using a trailing stop to protect your profits you get around an 18% profit,in this case a little over an hour.
I don't keep a log of these kind because i have them all in my head from so many years of trading but if I was newer to trading a log of these would never leave my side during trading hours.
Both ZICA and ATEA were probably unknown or little known stocks to the average investor.
Having a list of these stocks and access to a HOD list i feel gives me a tremendous edge in the market.
Regards,Muddy
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jpete
13 posts
msg #48872
- Ignore jpete |
12/30/2006 11:14:27 PM
wallman
WOW! Thanks for sharing and taking the time to respond to my question. It is mind provoking to receive your experience that has been so different than what I have been doing all my life with little result especially on little trading that I've done. When I check the news on many stocks the news dosent seem to matter to the stock moving one way or the other. Your comment answered that question. Thanks for your candor and boldness. I really appreciate it. I've been to your blog and look forward to entering your chat room on Tuesday.
http://www.greenonthescreen.blogspot.com/
I'll keep learning from you.
Regards, jpete
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vpatel6
4 posts
msg #48896
- Ignore vpatel6 |
1/2/2007 2:26:50 AM
wallman,
Please help me to creat scann for UBB Pull back and UBB Flags,Or if you those email to 'vpatelsix@sbcglobal.net'
Thanks.
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wallman
299 posts
msg #48897
- Ignore wallman |
1/2/2007 1:35:27 PM
the post from my blog: FINDING UBB ZONE PULLBACKS 12/5
Use it to find flags also.
The matches don't just fly out at you,Takes eyeballing.
Like most things in life,effort = rewards.
Muddy
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