miketranz
956 posts
msg #64498
- Ignore miketranz
modified |
6/29/2008 8:48:51 PM
Tucker,that filter is real good,but when I change the date offset,I get a syntax error.Mike...
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alf44
2,025 posts
msg #64499
- Ignore alf44
modified |
6/29/2008 9:14:18 PM
"tuck"...
...this "consolidation" approach has been attempted here at SF many many times. I happen to think it's a fertile area to find potential explosive trades...and certainly worthy of exploration...as I'm sure you know !
Out of "consolidation" (or, contraction)...comes...PRICE EXPANSION !!!
You see it time and again in the charts...and it's been an area of study for a hundred years.
It's practically ALL I look for !
Some time ago...I wrote an "all-in-one"..."Swiss Army Knife-esque" filter here at SF that identifies many "consolidation patterns" that I like to look for. Over time I've added (the count stands at about 13 now) several other 1 and 2 day price patterns to that original "Price Consolidation/Expansion" Filter !
You can search for it here if you like...I'm sure my current version of this filter is different from the last one posted on that thread. I use it everyday as a "trading worksheet" !
FWIW...a premise I like to work from...when trying to first identify these "consolidation" areas on a chart is simple to say...not so simple to code...
It IS...a Price Bar (candle etc...)...whose HIGH and LOW (ie...Range)...contains either the OPEN...or...CLOSE...of the following 4 Price Bars !
Think of that 1st Candle as a "measuring bar" !
Each of the 4 subsequent bars MUST HAVE at least the OPEN or CLOSE...fall within the Range of that 1st "measuring bar" !!!
A "breakOUT"...or..."breakDOWN" ...from that consolidation...as defined by that HIGH/LOW of that 1st "measuring bar" ...AND...the 4 subsequent bars is the "tell" ... BUT ...you must be prepared to swing LONG or SHORT from this "consolidation" ! imo
There are obviously MANY ways to try and spot areas of Consolidation...this is just ONE...that I like to look for !
If you DO look up my aforementioned filter you'll see I'm also looking at NR4s, NR7s, Inside Days, Sharks, Wind-Ups, decreasing Historical Volatilty Ratios etc...
Many ways to skin a cat...my apologies to the cat lovers out there (of which I kinda am...there I said it) !!!
Regards,
alf44
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WALLSTREETGENIUS
983 posts
msg #64517
- Ignore WALLSTREETGENIUS |
6/30/2008 11:43:51 AM
alf44
- Ignore alf44
modified 6/29/2008 2:13:17 AM
...one thing ALL those stocks have in common...they ARE "oversold"...whatever that means !
But then...what ISN'T "oversold" right now !
I just have a hard time comprehending why ANYONE...would load up a bunch of LONGS...at the Close on Friday...given the current Market action...just makes no sense to me !
_____________________________
Was just informed that my late "FRIDAY LONGS" closed out at just under $12,000 this morning!
JRCC......CLOSED W / PROFIT OF $6,8O8
SQM........CLOSED W / PROFIT OF $2,644
VIT...........CLOSED W / PROFIT OF $2,246
WNR.......CLOSED W / PROFIT OF $150
UNFI.......CLOSED W / PROFIT OF (Broke even)
Egg will ALWAYS run down your face when you try
to out-think a WALLSTREETGENIUS! So in the future...
NEVER try to underestimate one....
ROFLMAO!
- WALLSTREETGENIUS -
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TheRumpledOne
6,407 posts
msg #64518
- Ignore TheRumpledOne |
6/30/2008 11:53:34 AM
Nice trades WSG.
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WALLSTREETGENIUS
983 posts
msg #64521
- Ignore WALLSTREETGENIUS
modified |
6/30/2008 12:03:38 PM
Thanks Avery....but really, it's well below our AM average ($25K). UNFI, and WNR
really left us scratching our heads....but again, thanks for the props man.
- RIGGS -
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TrendSurfer
109 posts
msg #64526
- Ignore TrendSurfer
modified |
6/30/2008 1:27:15 PM
Good job man... I can only smile each time I see someone working plan, choosing a bias for and going for their trades.
An understanding that FEAR brings opportunity. An understanding that GREED brings opportunity. Exploiting the EDGE the broad market (headlined) emotions can give you when you can READ THEM with an understanding of HOW they effect the markets in reality.
The ability to ANTICIPATE the market transitions, short, medium and long term can be learned. It is a SKILL TO MASTER! There is always a profit to be made when you know how, where to find it, and proceed to take appropriate ACTION.
This message will self-destruct in.... 10, 9, 8....
Come on now, thats funny you have to admit!
Have a sense of humor everyone, believe in those who share with a clear vision, and have a great trading day.
Cherrio "As the TrendSurfer would say."
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maxreturn
745 posts
msg #64527
- Ignore maxreturn
modified |
6/30/2008 2:29:53 PM
TF...good to see you back. Hope you see fit to stick your head in from time to time.
Quote from Trendsurfer:
This message will self-destruct in.... 10, 9, 8....
Yes, that is funny. LOL!
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WALLSTREETGENIUS
983 posts
msg #64528
- Ignore WALLSTREETGENIUS |
6/30/2008 3:36:54 PM
...once again, great post "Surfer!" Now look...I did a u-turn and came back, when I was leaving for good!...but I didn't mainly because of YOUR post about a negative ora I was dealing with. So what do ya say...we BOTH stick around and give this forum what it deserves????
...10, 9, 8, 7.....I loved that btw....lol
- RIGGS -
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TrendSurfer
109 posts
msg #64530
- Ignore TrendSurfer
modified |
6/30/2008 5:17:48 PM
Thanks guys,
I didn't go anywhere. I USE StockFetcher.com EVERYDAY, even weekends... An incredible and powerful tool for scanning and data manipulation.
Those of you that tune in for FREE entertainment purposes alone, and don't have at least the minimum membership, well, quite simply you are missing out on the best SF has to offer.
I only post occasionally in appreciation of the venue offered here, and will not allow my words to be twisted around publicly. So, with that said. If the reception is better and the irritating static is gone. I may add something here and there. Would be happy too! Otherwise I will tune out!
Anyone from last week knows I had a short term GREEN BIAS going into the close on this past FRIDAY and I didn't make no bones about it. CASH happy and salivating taking whatever I can get in a cautious environment. I don't expect much during holiday weeks as you can't trust everything you see going into 3 day weekends with the markets, but next week should be fun when things settle down.
Have a great and safe 4th,
Cheerio
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hfilty
16 posts
msg #64535
- Ignore hfilty
modified |
6/30/2008 8:47:10 PM
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