webviper
34 posts
msg #34930
- Ignore webviper |
1/18/2005 7:26:26 PM
my filter pulled these up what i want to do with them if you look at them
they where in a flat bollinger pattern before they went up.
would like to add to my filter to filter for these types of stocks
but seem to be having trouble duplicating the pattern.
iig,lcbm jan 12
imax,creaf jan 11
blud,rate jan 7
any comments or help welcome
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jclaffee
81 posts
msg #34944
- Ignore jclaffee |
1/21/2005 6:17:59 PM
Hello Webviper. . .
In the absence of any other response to your post, I'll share with you a couple of thoughts I have. You refer to ". . .duplicating the pattern". It helps me to write down what it is that I hope to check out. As an example, I might say (to myself):
I want to find stocks which are trending up in price in the time frame of the last 30 days and which are in a Bollinger Squeeze (John Bollinger defines a "squeeze" as bandwidth which is at a six month minimum). The stocks, further, must be currently closing at a price greater than $10 per share (so I can short them) and must have averaged trading at least 500,000 shares per day during the 30 days of the up trend (so when I get ready to sell there's an active market with -- hopefully -- a small spread). A stock that meets this description is ready to break out to the upside in price and I should be getting on board.
Other than "I'd like to screen for stocks that are going to go up tomorrow", I'm not sure that there is a statement like this that you can make which will take in all the examples you cited:
LCBM broke out on news (a good earnings report) on 1-12. Unless you've got advance info, this is difficult to game plan.
BLUD broke out to a new high in a two month up trend on 1-7.
CREAF tested a month-old high on 1-11 but failed to follow through.
RATE tested a month-old intermediate high on 1-7 and followed through to a succession of higher highs in the week which followed before running up against year-old resistance.
IIG and IMAX are sort of birds of a feather, breaking out of trading ranges on
1-12 and 1-11, respectively.
Leaving out LCBM which had a non-technical move, I would ask myself something like "as dissimilar as these charts are, is there some tell-tale something that would have revealed each of them as being ready to break out?"
The archives of these forums are chock-full of filters and screens that folks with serious analytical skills have devised to try to answer that question and have backtested to determine how predictive they are. Since your candidates all spring from compressed bandwidth chart patterns, why not start by calling up the history of "Bollinger Bands" discussions in the forums?
I hope that you won't think me too preachy and that you'll have lots of success in refining your filter(s) and in trading!
Jim
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