StockFetcher Forums · Filter Exchange · Buying climaxes<< >>Post Follow-up
mahkoh
891 posts
msg #108254
Ignore mahkoh
10/2/2012 4:32:07 PM

http://www.schaeffersresearch.com/commentary/content/marketobs/as+concerns+continue+to+mount+be+ready+for+anything/observations.aspx?id=113110

"Just today I noticed another concern creeping up that is worth noting. We've seen a spat of buying climaxes the past two weeks. Simply put, a selling climax occurs when a stock reaches a new 52-week low, then reverses and closes higher on the week. You tend to see a cluster of these near market lows, and they are considered to be spurred by the "smart money" (whoever that really is) accumulating bullish positions. The flipside is a buying climax, which is a new 52-week high followed by a sell-off and lower prices on the week. In other words, this action could be the result of smart money distributing shares.

I've had some great success with this indicator so far this year, and that's why now is troublesome for me. It nailed the early June lows, said stay long in early July, and remained bullish into August.

Now we've had two weeks of increasing buying climaxes. In fact, last week there were 124 signals -- making it two straight weeks of more than 100 buying climaxes, according to all the stocks in our database. For reference, the last time we saw something like that was during the April peak. "

Fetcher[

set{x,count(weekly high reached a new 52 week high,1)}
set{y,count(weekly close below weekly open,1)}
set{z, x*y}
draw z
z above 0.5
display weekly
chartlength 52 weeks
russell 3000
]



I'm not familiar with their database, but I think the Russell 3000 will do.
Offset it to May 4 and note the spike just before the may decline.

mahkoh
891 posts
msg #108316
Ignore mahkoh
10/8/2012 4:35:43 PM

Fetcher[
set{x,count(weekly high reached a new 52 week high,1)}
set{y,count(weekly close below weekly open,1)}
set{z, x*y}
draw z
z above 0.5
]



run this and offset to Friday returns 202 results
Now I would expect

Fetcher[
set{x,count(weekly high 1 week ago reached a new 52 week high,1)}
set{y,count(weekly close 1 week ago below weekly open 1 week ago,1)}
set{z, x*y}
draw z
z above 0.5
]



to return 202 results as well, but I get 194?

Does anyone have a clue as to why this is?

bramdc
6 posts
msg #108334
Ignore bramdc
10/10/2012 2:38:18 PM

No idea,
but interesting filter,
is it actually possible to plot the number of shares on daily basis meeting your criteria of buying or selling climax,
does the graph somehow correspond to ups and downs in indices?

StockFetcher Forums · Filter Exchange · Buying climaxes<< >>Post Follow-up

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