StockFetcher Forums · General Discussion · pullback reversal<< 1 2 >>Post Follow-up
hfilty
16 posts
msg #64914
Ignore hfilty
modified
7/12/2008 3:23:30 PM

in intraday charts, most the stock will go up then pull back. when can you tell the end of the pullback? do you trust candlesticks reversal patterns or other indicators like volume, stockastics,rsi,..
and what is you plan in buying pullbacks in high adr stocks?

thanks
newbie


slotmarket
59 posts
msg #64919
Ignore slotmarket
modified
7/12/2008 5:00:37 PM

The signal that tells me the end of the pullback is when the price stops going down. The confirmation is when the price goes up the next day after the signal day. Most indicators are lagging. I practice KISS and look at price action mainly.

Using GDP as an example:



WALLSTREETGENIUS
983 posts
msg #64921
Ignore WALLSTREETGENIUS
7/12/2008 5:31:51 PM

Wrong. Your entry on GDP should have been when you saw the combination of that little "inverted Hammer" with that volume spike, and DMA(28,-14) traveling horizontally on 7/9/08. Whenever you see a small red candle with "volume skikes?"....that's telling you the shorts have already ran for the hills! But your entry was on 7/10/08 in the 6th session on your 10-min. chart when you saw that 1st bullish harmi after that long black candle. Do you see DMA up above? If you did that, you would have cought (GDP) at $62!That's how you find a bottom. Just watch my traders in the "trading room" during the week...that's all they do all day long.


- WALLSTREETGENIUS -

rtucker
318 posts
msg #64923
Ignore rtucker
7/12/2008 5:32:21 PM

Another fine "cherry" picked example would be FRE on Friday.

Go to www.bigcharts.com and look at the 1 day chart of FRE.

See the Support/ LOD retest/double bottom, holding at about $4.00 at about 10:40 AM. I would say that when it stopped going down and started going up on the 5 or 10 minute bar would be a good entry.
No one ever knows if it will hold or not.

I actually saw this live and didnt take it. Go figure!
I'm not a day trader , so, thats my excuse and I'm sticking with it.

WALLSTREETGENIUS
983 posts
msg #64924
Ignore WALLSTREETGENIUS
7/12/2008 6:20:42 PM

Great "tweezer bottom" set-up "Tuck" and a nice $4 move after that....but tell me....who had the balls to buy THAT bottom? Remember, the good news about (FRE) didn't come untill 3:PM EST.

But you're right man...excellant set-up!


RIGGS

slotmarket
59 posts
msg #64925
Ignore slotmarket
7/12/2008 6:46:32 PM

OK, WSG you got me, well sorta. My entry is the simple one for newbies and the more conservative. Yours is more sophisticated but definitely not for the unseasoned.
I'd love to learn all the details of your methodology but your relevant posts are gone from the forum so guess I'm s.o.l.

You posted your CLR trade on 7/10

FROM THE OFFICE OF RICHARD L. RIGGS: (WALLSTREETGENIUS)

CLR: (SOLD)

ENTRY:........7/10/08.....$74.82
EXIT:.............7/10/08.....$75.77 ($1,280)


Coincidently, I also traded CLR the same day. But my entry was 72.55 on the initial spike and exit 7/11... 76.77 for +4.22 to your +0.95.
So, touche'.

Btw, my call on CLR can be verified in the chat log at greenonthescreen.

slotmarket
59 posts
msg #64926
Ignore slotmarket
7/12/2008 7:10:23 PM

Oops, the OP was asking about intraday and my example is interday, my bad.
The setup may still be valid for intraday. I've heard that valid setups can be applied in different time frames. If my example is deem irrelevant and should be taken down, let know and I will.

WALLSTREETGENIUS
983 posts
msg #64927
Ignore WALLSTREETGENIUS
modified
7/12/2008 7:42:09 PM

Slotmarket -

Not that it really matters, and I cant remember which of my traders entered on (CLR), but I do remember that, that entry at around $74 was nothing but a last ditch effort to make a QUICK $1,000.00
If my memory serves me, we made that trade and closed it out in less than 10 minutes! Don't quote me, but I know it was going to be our last trade of the day, and I had my trader close it out prematurally. Also, at the time of it being at $72, we most likely were in other stocks at around a 200K clip at the very least. But in the future, at least use the examples of your trades HERE at SF. I have no reason to think you aren't telling the truth, but as you know, it's real easy to just run one's mouth and say I did this, or I did that. At any rate, that really was a great entry for (CLR). Don't you just love that stock?....that baby only know one way...and that's...up, up, and away!!!


Peace,



- RIGGS -

13th_floor
724 posts
msg #64931
Ignore 13th_floor
modified
7/12/2008 9:51:10 PM

"Btw, my call on CLR can be verified in the chat log at greenonthescreen."

(Jul 10-10:29) slotmonkey: CLR

Just under $72 when I saw the call,very nice Slot

(Jul 10-11:05) slotmonkey: CLR 76
(Jul 10-15:27) slotmonkey: 79 CLR 52's

Hit almost $84 the next day,closed at 80,great heads

WALLSTREETGENIUS
983 posts
msg #64937
Ignore WALLSTREETGENIUS
modified
7/13/2008 10:19:18 AM

....as I said...." At any rate, that really was a great entry for (CLR) "

Sorry "slot"...I ussumed "greenonthescreen" was some other website or something. AGAIN, nice work man...


- RIGGS -

StockFetcher Forums · General Discussion · pullback reversal<< 1 2 >>Post Follow-up

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