StockFetcher Forums · General Discussion · Buying down opens<< >>Post Follow-up
UNITED
81 posts
msg #41093
Ignore UNITED
2/8/2006 2:35:47 PM

Has anyone came up with a scan for buying down opens,strictly for a day trade?Example would be NT today on a 5min chart.Buying it on a morning reversal.Selling it 1 hour later @ $3.00.Any ideas??? Thanks,Mike...


nikoschopen
2,824 posts
msg #41097
Ignore nikoschopen
2/8/2006 4:23:15 PM

Go buy urself a lottery ticket instead. The risk/reward ratio is hellova lot better.


jclaffee
81 posts
msg #41113
Ignore jclaffee
2/9/2006 1:34:05 AM

UNITED,

SF is an end-of-day screening tool, so it would not be adaptable to your vision of entering a trade at 1000 or so and exiting at a later time that same day. IMO, this is a "market sense" trade, anyway, as opposed to a technical trade. I don't have it so I don't do it! I am impressed, though, by the frequency -- particularly with listed stocks where overnight pressures have not been accomodated in the pre-open trading -- with which the initial move reverses. I have no data to quantify this phenomenon.

Jim


petrolpeter
439 posts
msg #41118
Ignore petrolpeter
2/9/2006 1:28:09 PM

Buy low and sell higher 1HR later? I like that!You do not need to start with stocks that are completely oversold like NT to get a morning low.Continuation of green bars is a great way to enter early morn.;ATML,so long as picks end up in the 'advancers' col. and out of the 'decliners' at the end of the day.If I think a chart will add a green bar today, I will set up PPOh(3,6,6) and CCIh(6,6) or any indicator that matches price as close as poss. on 1,3,or 5 min. and consider long when both of these cross green and consider closing when both cross red.Heres a screen where charts show strength but are down for a day:
Fetcher[Close is below upper bollinger band(12) and close is above median bollinger band(12) and price decreased 1 day and 8 day slope of close is above 0 and volume is above 400000 and close is between 1 and 36 and date offset 0]

and may lead to a continuation and poss. morning low.Stockfetcher is a far out resource for generating a morning trade list,the other half is 'HOW YOU TRADE' em.Heard that somewhere.


UNITED
81 posts
msg #41131
Ignore UNITED
2/9/2006 9:31:47 PM

Thanks,and that is a great momentum screen also.I have another question.FSAC showed up on this screen.On a 6 month chart,how would you catch this stock breaking out of a long consolidation??thanks again....


petrolpeter
439 posts
msg #41154
Ignore petrolpeter
2/11/2006 3:10:49 PM

I have been running cross above median bollinger and touching upper bollinger screens looking for this type of break-outs.FSAC had kind of a down open and around 8:45 reversed upward at 2.50-2.52 area to 2.72-2.74 at 9:30 5 MIN. Chart fri. PPOh(3,6,6) signaled exit for 45 min. hold ,although this daily chart is spotty.AVNX could run.


StockFetcher Forums · General Discussion · Buying down opens<< >>Post Follow-up

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