StockFetcher Forums · General Discussion · help on Wallmans "wait for green" method<< >>Post Follow-up
rsarno
103 posts
msg #34880
Ignore rsarno
1/14/2005 6:46:44 AM

"TheRumpledOne: Study Wallman's WAIT FOR GREEN. Master that and you'll be rich."

Hope you dont mind i took this into its own thread, i felt it deserves it.

You can talk to wallman about a pop, a spike, a rebound, a pullback, an oversold status, regardless what you are talking about his answer always involves "wait for green"

I dont doubt his wisdom or his *eyes* for even a second, his 40+ years of trading experience should not be taken lightly. so im very confident there is some confidence to be placed in this method.

However i just cant understand "wait for green" for some reason! Everytime i see a stock doing what i think is "holding green" it turns out to be just testing resistance and then tanks soon after.

As well i was thinking that his method seams to find some big jumpers, so would it be wise to just run his filter on yesterdays close and see if it closed between 1%-3% green? wouldnt that be "holding green"?

I am at work durring day so cannot view a stock that turns green at 11am and then go look at candles or volume or anything ... i am pretty much stuck with EOD data, or premarket (premarket has not worked out for me and now im avoiding it)

thanks


oldsmar52
104 posts
msg #34883
Ignore oldsmar52
1/14/2005 10:35:52 AM

I work like you also so its just meaningless for me to try and understand lots of the details some of the people use since I can't be at a computer during the day, but I'll tell you what works best for me.
1) I only play triple matches that have an RSI(2) below .3
2) In the morning I put a limit buy on them anywhere from 3-6 cents below
yesterday's close. (Just a guess on my part, totally random...but I always
offer to buy today below yesterday's close.)
3) If I get them fine, if not wait till tomorrow for others.

Extremely simple but it works great for me. If you have any advice for me, I'm
always open.
Frank


acervapsych
39 posts
msg #34891
Ignore acervapsych
1/14/2005 10:11:31 PM

I also work all day but, I do have a chance to look at the market between 6:30am to 7:00 am before I go to work. (Pacific Time). The night before I look for stocks below RSI(2) 4 and touching lower linear regression line. Then I look at the 3, and 6 month chart and the 1 year chart. Then I check for confirmation on the 5 day / 5min chart with a low RSI(2). In the morning I watch them for about 10 to 20 minutes. If they hold green then itís pretty safe that they will stay green the rest of the day. Around 6:50am most stock will do a minor correction. Thatís when I put in a limit order base on the real time intraday chart. After my order is filled, I set a tight stop.

My advice is to study 5 stocks and become familiar. In my case I only trade most of the time GE, CX, HD, DELL, AVP and sometime others. Good idea to have a trading plan. Good Luck!



peaking67
22 posts
msg #45777
Ignore peaking67
7/13/2006 2:27:05 PM

This is for oldsmar52;

Back in 1/14/2005 you wrote about a filter that "works best for me.
1. I only play triple matches that have an RS(2) below .3......."

Pls explain "triple matches".
Thnx, Sid


four
3,389 posts
msg #127759
Ignore four
3/29/2016 9:07:50 PM

pop

StockFetcher Forums · General Discussion · help on Wallmans "wait for green" method<< >>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