StockFetcher Forums · Filter Exchange · mika's Rainy Day Filter<< >>Post Follow-up
mika
131 posts
msg #29888
Ignore mika
11/16/2003 1:26:18 AM

Show stocks where Exchange is Nasdaq
and close is above open
and Close is above Close 1 day ago
and Low 1 day ago is above low 2 days ago
and volume is above Average Volume(5)
and TDREI(5) 3 days ago is below -1
and Bollinger Oscillator(10,5) is above 25
and Average Volume(30) is above 90,000
and close is between 0.7 and 4.7

So when the market is red get out of bed!

:)


EWZuber
1,373 posts
msg #29892
Ignore EWZuber
11/16/2003 4:38:23 PM

A down day in the markets can be a great time to find stocks that are testing trendline or MA support. This filter will help find those.

Show stocks where Weekly Slow Stochastic(5,3) Fast %K crossed above Weekly Slow Stochastic(5,3) Slow %D within the last 2 Weeks and Weekly Slow Stochastic(5,3) Fast %K is below 50 and chart is Weekly and Slow Stochastic(5,3) Fast %K is approaching Slow Stochastics(5,3) Slow %D and Slow Stochastics Fast %K is below 25 and Average Volume(90) is above 100,000 and close is between .5 and 15

What I like about this one is that it looks for stocks where there is already a longer term accumulation underway ( weekly chart ) and very likely an uptrend has already been established as a result, complete with trendline and / or MA support.
On Daily charts it looks for stocks where the accumulation phase is just about to begin, giving the trader the opportunity to catch them right on or very near trendline or MA support. Your best opportunities often occur when the general market has been exhibiting short term distribution ( losses in the indexes ).
Once the indexes start to show gains the good ones are usually the first ones out of the gate and don't stay near support levels forlong, often gapping up at the open. his makes it nearly impossible to get a low risk entry as it rises quickly leaving a substantial distance between the current price and support.
Consequently if the stock drops to test support a day or so later, even momentarily, it will take out many of the stops of those that got in after the initial rise.
In a case like this what you have is a poorly executed entry into a well chosen stock. The result can often be a loss in a stock that would have provided substantial gains with a more precision entry.
The only other option is to put the stop below trendline support which could be well below the amount of loss most traders are willing to sustain.



mika
131 posts
msg #29895
Ignore mika
11/16/2003 6:49:18 PM

Z,

I started to do some reading regards trend lines, along with the underlying psychology as regards them, and I can definitely see the importance of keeping an eye on these, for evidence of support or violations. :)

My only concern with the filter is that is seems to be a fine filter, but for general use. I don't see how it is tailored to the particular circumstance of a down market. My thoughts are that in a down market, money gravitates towards stocks on the move up. This is because on a down day these stocks shine even brighter. Whether these stocks play nice with the trend-line or not, I believe, is irrelevant at the time due to the excess liquidity that naturally accumulates in a down market. People naturally do not want to play stocks that are in the red (unless playing short) cause no one really know how low they will go. Whereas with a stocks that have outperformed in a down market, you don't know how high they will go, but you know momentum favors them going even higher.

The filter I posted above is a ONE DAY FILTER!! And it should only be played when the market has been down for 2 consecutive days already. The exit signal is a TDREI(5) of +50 for more than 2 days. I included this ingredient - "TDREI(5) 3 days ago is below -1" - in my filter, specifically so as to allow for a movement to a +50 TDREI(5) reading. And therefore, hopefully, a ONE DAY PLAY before a TDREI(5) reading of +50 is registered for more than 2 days. :)






mika
131 posts
msg #29897
Ignore mika
11/16/2003 9:09:52 PM


Ok. I think I significantly refined the Rainy Day filter. This one gives more consistent results.


Show stocks where Exchange is Nasdaq
and close is above open
and close 1 day ago is above open 1 day ago
and close is above close 1 day ago
and low 1 day ago is above low 2 days ago
and TDREI(5) 3 days ago is below -15
and TDREI(5) is below 45
and volume is above Average Volume(5)
and Average Volume(30) is above 90,000
and close is between 0.7 and 4.7




EWZuber
1,373 posts
msg #29901
Ignore EWZuber
11/17/2003 3:09:46 PM

mika
Thanks for the explanation of your filter. Makes sense.



TheRumpledOne
6,362 posts
msg #29906
Ignore TheRumpledOne
11/17/2003 5:29:47 PM

Have some fun:

Fetcher[Show stocks where Exchange is Nasdaq and TDREI(5) is below -90
and volume above 300000
and Average Volume(90) is above 300,000
and close above .01
and add column tdrei(5)
]



MAY ALL YOUR FILLS BE COMPLETE.


mika
131 posts
msg #29914
Ignore mika
11/17/2003 10:18:16 PM

Avery that's not a good filter.

One of things you want to watch for is that TDREI(5) is not below a -45 reading for longer than 5 days. With a TDREI(5) reading of -90 in your filter you are almost guarantying that condition will not be met. Also, you want to buying as the TDREI(5) crosses back over a -50 reading.


txtrapper
548 posts
msg #29985
Ignore txtrapper
11/21/2003 9:21:02 AM

My Rainy Day Filter?

Three picks from this filter for Friday Nov. 21

ADOT $0.02
ADVR $0.12
TFCT $0.05

Fetcher[Show stocks where Exchange is Nasdaq and TDREI(5) 3 days ago is below -15 and TDREI(5) is below 45 and volume above 300000 and Average Volume(90) is above 300,000 and close above .01 and add column tdrei(5) and date offset is 0]



tx


mika
131 posts
msg #29993
Ignore mika
11/21/2003 6:51:09 PM

tx,

Don't you think playing the casio would be more fun?


txtrapper
548 posts
msg #29997
Ignore txtrapper
11/21/2003 8:09:43 PM

Yea MIKA, with lighted keyboards.

tx


StockFetcher Forums · Filter Exchange · mika's Rainy Day Filter<< >>Post Follow-up

*** Disclaimer *** StockFetcher.com does not endorse or suggest any of the securities which are returned in any of the searches or filters. They are provided purely for informational and research purposes. StockFetcher.com does not recommend particular securities. StockFetcher.com, Vestyl Software, L.L.C. and involved content providers shall not be liable for any errors or delays in the content, or for any actions taken based on the content.


Copyright 2016 - Vestyl Software L.L.C.Terms of Service | License | Questions or comments? Contact Us
EOD Data sources: DDFPlus & CSI Data Quotes delayed during active market hours. Delay times are at least 15 mins for NASDAQ, 20 mins for NYSE and Amex. Delayed intraday data provided by DDFPlus