StockFetcher Forums · Filter Exchange · Zig - Zag Trade with the Market Makers<< >>Post Follow-up
123 posts
msg #33829
Ignore jpistell
11/7/2004 9:30:27 PM

Here's a fun one, I call it "Zig - Zag".

Fetcher[find stocks where volume(90) is above 100000
and price is above 1
and cmf(14) has reached a 52 week high within the past 30 days 20 days ago
and cmf(14) has reached a new 52 week low within the past 10 days
and price is near 30 day low
and date offset is 50

Trading Set-up.
Zig = CMF(14) 52 week high
Zag = CMF(14) 52 week low

The Play by play....
THE ZIG: CMF(14) 52 week high
Traders are over-running the security. News is usually out, Sellers are hard to find and Market Makers are net short ((cmf(14)at 52 week high)). Time and time again, I see them regain control of the trading and (attempt to) return the price back to where they can go long and turn a profit. (note: This is why Gaps nearly always fill.)

THE ZAG: CMF(14) 52 week low
After the 52week CMF high, I frequently see about a 20-30 day window to wash out the short term traders and allow the MM'ers to square up. The ZAG, shows up about 30 days after the ZIG which usually sets up a bounce. This 1st bounce is often a nice place for a "pilot buy" to watch a security. Extra opportunity comes when the ZAG bounce fails and the stock falls to a new near term low. This signature is seen with a CMF positive divergence and is a new opp. to buy some more and then set those stops fairly tight

It's a KISS scipt with a very small number of hits, and these hits produce an excellent gains to losses ratio.

Sorry to be so wordy...
p.s. careful of IPOs they're to be ignored.

123 posts
msg #33830
Ignore jpistell
11/7/2004 10:03:24 PM

Use Date offset 1,2,3,4,5,etc... to find a set up that you like. I think XOMA here at $2 looks interesting. (date offset = 3) Possible gap fill into the low $3's (assuming more bad news dosn't kill it).

353 posts
msg #33831
Ignore yepher
11/7/2004 11:43:13 PM


Interesting filter I like your approach.

I hope you don't mind my saying but I don't really agree with your call on "XOMA" due to the higher volume on the low days but I guess 20 days from now we will know :)

Thanks for the contribution it is a nice filter.

123 posts
msg #33833
Ignore jpistell
11/8/2004 8:32:40 AM

Ya, I agree on XOMA's lousey last few bars. What we have is (at this moment) is what "could be" a rare negative divrg. where price at its recent low and yet the volume based osc. has made a new low. This significanlty tilts the the likely outcome more twoards more lower lows.

With these set ups, should there be a bounce, it'll be short lived, that'll set up a return to this low price on far lighter vol (aka higher CMF). I still see that uncovered gap calling for higher prices. Lastly, rising vol. with diminishing a ATR (aka bollingerband squeeze) sets up a break (in either direction).

IMO, buystop > $2.00 with sell stop $0.05 under it. Thats my kind of trade.

123 posts
msg #33839
Ignore jpistell
11/8/2004 10:52:29 AM

I'm in at $2.00.
BBH is negative, stop is tight.

123 posts
msg #33877
Ignore jpistell
11/10/2004 11:09:17 PM

Arrg... Stopped out XOMA yesterday and its up 13% the next day. Someone shoot me.

439 posts
msg #33879
Ignore petrolpeter
11/11/2004 1:07:00 PM

I show XOMA on two bottom fishers;
Fetcher[Show stocks where aroon oscillator(8) touched -92 and close is between 1 and 2 and volume(10) is above 100000 and date offset 0]

Fetcher[Show stocks where ERSI(5,5) is below 10 and Williams %R(10) increased 1 day and close is between 1 and 2 and volume(10) is above 100000 and date offset 0]

Date 11/09.

123 posts
msg #33880
Ignore jpistell
11/11/2004 1:56:22 PM

cool! I love bottom fisher scripts, I'll look them over tonight!

many thnx,

6,358 posts
msg #33888
Ignore TheRumpledOne
11/12/2004 12:02:45 AM

I noticed some new names posting. Some of you may not be familiar with:

Fetcher[RSI(2) < 1]

Of course, add your own price/volume parameters to find the stocks you like.

If you only like uptrending stocks:

Fetcher[RSI(2) < 1 and 60 day slope of the close > 0]

Look for your favorite stocks to appear on this list and then load the boat!


StockFetcher Forums · Filter Exchange · Zig - Zag Trade with the Market Makers<< >>Post Follow-up

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