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EWZuber
1,373 posts
msg #28486
Ignore EWZuber
9/11/2003 1:46:10 PM

jd_hunter03
Thanks for the heads up. These are great momentum plays.
I use a screen that looks for stocks with an RSI of 75 ~ 90 to find the hot ones. Also a watchlist of most all the indexes.
For a different view of the situation, if one looks back at a 3 year chart for HL, for instance,with monthly periodicity you can see that the real move started just after the breakout that occurred in Feb. 2002 and was accompanied by a stochastic crossover on the Monthly chart and rising stochastics on the weekly chart.
This greatly reduces the risk, and due to the long term nature of these cycles it makes for a good long term hold. In this case stochastics didn't have a fast line cross below the slow line ( cycle top ) until June of 2002 for about a 300% gain. IMO.


txtrapper
548 posts
msg #28497
Ignore txtrapper
9/11/2003 9:20:16 PM

EWZuber

Took a look at your chart HL, after read a few chapters of Stan Weinstein's book, he depended heavily on RSI and the SMA(30)Weekly Charts for his entries.

look at this chart setting: stock; HL 3y/M, seems that RSI(14)was still the early entry signal on HL even before Stochastics. But on the 3y/weekly charts Stochastics, Full (10,3,10) gave a signal on 12/17/2001 (and never faultered) and was somewhat more defined and a bit earlier than RSI. Zuber which Stochastics setup do you use for entry into a stock?
Slow Stochastic or fast and (the time frames) please if you don't mind sharing them. Thanks

txtrapper


txtrapper
548 posts
msg #28498
Ignore txtrapper
9/11/2003 9:22:52 PM

Picks for Friday, 09/12/2003;

GNSC
MIKN
JMAR
DDDC


EWZuber
1,373 posts
msg #28509
Ignore EWZuber
9/12/2003 3:59:10 AM

txtrapper
I use Monthly, Weekly and Daily chart stochastics to get a rough idea of when to enter. I have to have at the very least, rising weekly and oversold ( or a fast line crossover on ) daily chart stochastics. It is ideal to have monthly rising too but not absolutely necessary. ( You will get more upward movement if all 3 time periods are in sync or in phase with one another.) Then scale down to hourly charts to find when it's oversold or at least a fast line cross above the slow line and finally to the 5 minute chart stochastics to actually take the position. Trendlines and Moving Averages are extremely important along with other resistance and support levels, & chart patterns of all kinds.

I really like buying oversold stocks with sound fundamentals when they're right on long term trendline support and also stocks that are just breaking long term trendline resistance while the monthly chart fast line crossing above the slow line. That is a killer set up. LLL just did this a few months ago. Right now I have my eye on EPIQ ( Really like this one both fundamentally and technically ), GNSS, CYTC, GRP, EELN ( another gem ) and maybe IMH,

The position needs to be within about 2% of support on the 5 min. chart. ( support may actually be primarily observed on the daily chart though and drawn into the 5 min. chart )

This way a precision entry can be made with minimal risk and downside exposure.

For instance, say stock XYZ is at $10.05 approaching support at a 15 day moving average at $10. Daily charts have it oversold at 25. Sounds good you say? A closer look though shows the hourly chart is also oversold but only slightly to 40, and the 5 minute chart is overbought at 85 and just bouncing down from resistance at the 2 HR.MA. There is a very good chance that this stock will break through the 15 DMA but you'd never see it coming on the daily chart.


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