jpistell
123 posts
msg #33829
- Ignore jpistell |
11/7/2004 9:30:27 PM
Here's a fun one, I call it "Zig - Zag".
Trading Set-up.
Zig = CMF(14) 52 week high
Zag = CMF(14) 52 week low
The Play by play....
THE ZIG: CMF(14) 52 week high
Traders are over-running the security. News is usually out, Sellers are hard to find and Market Makers are net short ((cmf(14)at 52 week high)). Time and time again, I see them regain control of the trading and (attempt to) return the price back to where they can go long and turn a profit. (note: This is why Gaps nearly always fill.)
THE ZAG: CMF(14) 52 week low
After the 52week CMF high, I frequently see about a 20-30 day window to wash out the short term traders and allow the MM'ers to square up. The ZAG, shows up about 30 days after the ZIG which usually sets up a bounce. This 1st bounce is often a nice place for a "pilot buy" to watch a security. Extra opportunity comes when the ZAG bounce fails and the stock falls to a new near term low. This signature is seen with a CMF positive divergence and is a new opp. to buy some more and then set those stops fairly tight
It's a KISS scipt with a very small number of hits, and these hits produce an excellent gains to losses ratio.
Sorry to be so wordy...
Joe
p.s. careful of IPOs they're to be ignored.
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jpistell
123 posts
msg #33830
- Ignore jpistell |
11/7/2004 10:03:24 PM
Use Date offset 1,2,3,4,5,etc... to find a set up that you like. I think XOMA here at $2 looks interesting. (date offset = 3) Possible gap fill into the low $3's (assuming more bad news dosn't kill it).
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yepher
359 posts
msg #33831
- Ignore yepher |
11/7/2004 11:43:13 PM
jpistell,
Interesting filter I like your approach.
I hope you don't mind my saying but I don't really agree with your call on "XOMA" due to the higher volume on the low days but I guess 20 days from now we will know :)
Thanks for the contribution it is a nice filter.
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jpistell
123 posts
msg #33833
- Ignore jpistell |
11/8/2004 8:32:40 AM
yepher,
Ya, I agree on XOMA's lousey last few bars. What we have is (at this moment) is what "could be" a rare negative divrg. where price at its recent low and yet the volume based osc. has made a new low. This significanlty tilts the the likely outcome more twoards more lower lows.
With these set ups, should there be a bounce, it'll be short lived, that'll set up a return to this low price on far lighter vol (aka higher CMF). I still see that uncovered gap calling for higher prices. Lastly, rising vol. with diminishing a ATR (aka bollingerband squeeze) sets up a break (in either direction).
IMO, buystop > $2.00 with sell stop $0.05 under it. Thats my kind of trade.
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jpistell
123 posts
msg #33839
- Ignore jpistell |
11/8/2004 10:52:29 AM
I'm in at $2.00.
BBH is negative, stop is tight.
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jpistell
123 posts
msg #33877
- Ignore jpistell |
11/10/2004 11:09:17 PM
Arrg... Stopped out XOMA yesterday and its up 13% the next day. Someone shoot me.
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petrolpeter
439 posts
msg #33879
- Ignore petrolpeter |
11/11/2004 1:07:00 PM
I show XOMA on two bottom fishers;
and
Date 11/09.
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jpistell
123 posts
msg #33880
- Ignore jpistell |
11/11/2004 1:56:22 PM
cool! I love bottom fisher scripts, I'll look them over tonight!
many thnx,
Joe
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TheRumpledOne
6,407 posts
msg #33888
- Ignore TheRumpledOne |
11/12/2004 12:02:45 AM
I noticed some new names posting. Some of you may not be familiar with:
Of course, add your own price/volume parameters to find the stocks you like.
If you only like uptrending stocks:
Look for your favorite stocks to appear on this list and then load the boat!
MAY ALL YOUR FILLS BE COMPLETE.
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