StockFetcher Forums · General Discussion · Value Of RSI<< 1 2 3 >>Post Follow-up
korzym
14 posts
msg #34732
Ignore korzym
1/3/2005 11:57:57 PM

To what extent should the RSI be relied on? before Christmas I made a watchlist very inefficiently, based solely on RSI and I had a few do well [+15%], and I use 7% stop losses, but then I move it up to 15%-20% and let the price dance above the tight stop losses to protect my profit. I just paid for membership a few hours ago and now have a bunch of sub-30 RSI(15) stocks at my disposal. What are they other indicators I should be using in conjunction with RSI? Would one be MACD?
My concern with RSI is that I noticed that even though it can get below 30, it isn't always the best time to take a position as there may be a further PPS decline.

Thanks,

Korzym


Icculi
9 posts
msg #34740
Ignore Icculi
1/4/2005 6:19:16 PM

Well, try:

RSI(2) is below 1

Or for a few more picks something like:

RSI(2) is below 5

This should show stocks with short-term oversold conditions.


korzym
14 posts
msg #34763
Ignore korzym
1/5/2005 7:46:47 PM

What kind of returns have you recieved using them? I came accross one stock that has RSI(2) at 0, LAVA, does anyone else see this as an excellent & safe opportunity?


wallman
299 posts
msg #34764
Ignore wallman
1/5/2005 9:16:45 PM

a bottom RSI(2)dragger under 1 like LAVA has been the last 5 days is usually a great play ONCE the stock catches green and holds it,that's the catch,make sure it has a green hold,a minus to LAVA is that it usually doesn't have real great day range so the pop you get over a few days might not be as good as the ones you find like this that have historically nice dayrange


korzym
14 posts
msg #34768
Ignore korzym
1/5/2005 10:43:06 PM

Thanks for the tips
Thats the problem I'm having, oversold RSI(15) stocks are easy to find but what are other{more} signs that point towards stabilization and an uptrend?


TheRumpledOne
6,358 posts
msg #34769
Ignore TheRumpledOne
1/5/2005 11:19:14 PM

korzym....

Look for POSITIVE DIVERGENCE... in the case of rsi(2), that would be when a lower price makes a higher RSI(2).

Look at a 3 month chart showing RSI(2) for MANU.

On Jan 5, 2005 the price is lower than Jan 3 but the RSI(2) for Jan 5 is higher than it was on Jan 3.

When you see that it's time to LOAD THE BOAT!!

MAY ALL YOUR FILLS BE COMPLETE.




korzym
14 posts
msg #34772
Ignore korzym
1/6/2005 2:11:55 AM

I own OVTI right now; I'll be here tomorow morning because I think I'm going to sell and buy MANU


korzym
14 posts
msg #34777
Ignore korzym
1/6/2005 10:23:42 AM

What's the filter you used to find that one? I think I'll hold OVTI a few more days, looks like its bouncing back


wallman
299 posts
msg #34781
Ignore wallman
1/6/2005 3:41:04 PM

Korzym, Great find on LAVA! it caught that green and is running big now,if you learn how to use RSI(2)it can be a huge advantage


korzym
14 posts
msg #34787
Ignore korzym
1/6/2005 8:55:15 PM

I don't want to get ahead of myself, so what do you think of: VGZ, ARTX, SKIL, SWKS, and PUMP. PUMP is similar to LAVA because it's RSI(2) is also 0, RSI(15) is a little higher though: 21.6-compared to LAVA's 16.8.

This is the elementary filter that I ran to find those:
Show stocks where RSI(15) crossed below 30.00 within the last 8 days
and RSI(2) is below .7
and Average Volume(90) is above 50000
and close is between 1 and 15

I also ran LAVA through the stock screener which had it ranked as 61% bullish. So what are your thoughts on those stocks?



StockFetcher Forums · General Discussion · Value Of RSI<< 1 2 3 >>Post Follow-up

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