johnnyvento
51 posts
msg #62498
- Ignore johnnyvento |
5/11/2008 10:47:45 PM
13th you're a gold mine. Can I call you son of Muddy haha as in "Revenge of the Son Of Muddy"
What I find interesting is how the signal is the reversal. You mentioned that you were waiting for MESA to reverse, meanwhile it went up and up for six straight days but implied in that was since it started green and stayed green on those days there was no clear signal.
I don't know what to make of that, but it's interesting.
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13th_floor
724 posts
msg #62500
- Ignore 13th_floor |
5/11/2008 11:49:09 PM
Ha, ok son of Muddy sounds good.
MESA was a classic short I think when I went in @ 1.085.
It never showed a red daily candle in it's run up.
On 5/2 it closed at 1.10 after hitting a hod of 1.38
The next trading day on 5/5 it opened higher( green ) at 1.12 and went to 1.19.
Quickly the sellers stepped in and the "gap and crap" was on.
It went red under 1.10 and hit lod .84 closing at 1.03.
It's been all red candles since with fading volume to boot.
There's bunches of these plays every week but you have to be nimble to catch the gap and crap, for the primo entry.... Simply just run this scan:
Then chart them and look for the ones with either RSI(2) above 90 somewhere in the lower MIDDLE to 10% BELOW the upper bollinger bands or ones like MESA where the hod is above the ubb but close price is BENEATH the ubb and watch for the gap and crap or heavy selling vol right from the start.
Also look for a red candle that has penetrated the ubb.
All that hit that scan are worthy watches if you can but those are the strongest plays.
Alot of the lower priced otc.bb and pinkies and a few nasdaq stocks that hit this scan are "fluff" pr releases and/or newletter/email pump jobs that can fall really quick once the momo is over.
The higher and faster one of these stocks has risen,the faster and further they will fall is the general rule so look at these as top watches also.
Here's the ones I'm particularly watching for red signal on Monday:
RNWK RHD XRM CDL ARP SUNV GTXO ABH SSBX SBH CTDC ISTA SYX BTRX OCN NNVC DRRX HDY CENT COSI SYNM MGAFF AVII NBF OFI AYSI KBX ODSY PEGA FLY ROCK FORC ACET ALLI BLTI BWTR MVG EFOI CXZ NTHH
Even if you miss these the first day down,many,especially the "fluffs and pumps" are still going down,look for supprt on a daily and if it is falling below that you usually have a winning short on your hands
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johnnyvento
51 posts
msg #62501
- Ignore johnnyvento |
5/12/2008 1:15:12 AM
---------------------------
It's going to take me a while to study these charts for RSI(2) and bb short plays but I guess the main question in my mind is how to manage all the information and scan for it during the trading day. That's something I will have to figure out on my own I suppose. I guess studying the charts ahead of time and having the watch lists are key. Expectations game during game time with homework done already. Maybe that's why the red/green signal is so simple- it is something that you can scan for easily. Simple, but brilliant.
Interesting fellow that TRO. My guess is he's probably a good trader (infinitely better than me) but probably a more brilliant programmer. That makes his behavior weird as he just wants to post filters but never give advice. If you guys ever have another dustup I will beat his ass with a ping pong paddle back into the buy zone. haha, multiple refs- I'm watching Forrest Gump right now so this is a mind-blowing meta post.
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johnnyvento
51 posts
msg #62502
- Ignore johnnyvento |
5/12/2008 1:19:14 AM
I just named that my Gap & Crap filter. haha Son of Muddy strikes again
Information management is my new goal. FOCUS FOCUS
I can't even remember how much life sucked before the internet(s)
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johnnyvento
51 posts
msg #62503
- Ignore johnnyvento |
5/12/2008 1:51:53 AM
Another thing blowing my mind right now is that several stocks on your red list like XRM ISTA SYNM are on the RFR list, so it matters where they are on the chart- not simply that they are on a high day ranger list going red to green per se.
That makes sense, since a high day ranger can go up AND down, but I need to figure out the difference obviously!
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TheRumpledOne
6,407 posts
msg #62504
- Ignore TheRumpledOne |
5/12/2008 6:53:48 AM
Interesting fellow that TRO. My guess is he's probably a good trader (infinitely better than me) but probably a more brilliant programmer. That makes his behavior weird as he just wants to post filters but never give advice. If you guys ever have another dustup I will beat his ass with a ping pong paddle back into the buy zone. haha, multiple refs- I'm watching Forrest Gump right now so this is a mind-blowing meta post.
=======================================================
Ping pong paddle? LOL!
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lizzydog
32 posts
msg #62505
- Ignore lizzydog |
5/12/2008 8:05:37 AM
13th-floor-----------On your 5 min chart on Scottrade do tou use 2.5 days ?
thanks
lizzy
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13th_floor
724 posts
msg #62530
- Ignore 13th_floor
modified |
5/12/2008 6:17:47 PM
lizzy,
13th-floor-----------On your 5 min chart on Scottrade do tou use 2.5 days ?
Yes
johhny,
you're getting it my friend,have patience
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
MESA 6 red days in a row, now sitting at .671
SSBX looks to be setting up for a nice short one day this week,wait for red
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lizzydog
32 posts
msg #62534
- Ignore lizzydog |
5/12/2008 7:56:58 PM
13th-floor-----I picked up cpst today off of the premarket page from nas
man every thing was steady up nice 10/60 chart and about 11:00 they shook the tree and us nuts fell out. Still came out with a small gain and as usual stock went on to a nice close. If you have a chance look at that chart
Thanks
lizzydog
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13th_floor
724 posts
msg #62537
- Ignore 13th_floor |
5/12/2008 9:06:25 PM
lizzy.
Yes nice play,like some others that run well CPST had the 10/60 cross( or the touch counts too ) the previous day right at the close.
So if you see it up in pre ( very good job by you,dog ) you know it it almost 100% that it's gonna cross and usually cross with a convincing angle to that cross.
One thing about CPST, it hit new 52 week highs at 3.11,many of these will take a momentary dip but ,and especially on a bullish market day, will recover and close out near their hods
CPST did just that closing at its hod 3.27
Good job on your part to spot it!
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