Nasdaq lead the way today with the SP following. Volume on the SP was higher than day before, switching roles with the Nasdaq in recent days. The Smallcap and Midcaps have hit new highs and continue to produce the best stocks out there in this rally.
The market took a little breather going into the close but did not sufer a lot of damage. Two stocks I was long showed some classic reversal signs; one starts with BO the other IP. And other stocks today had some short term parabolic moves so I had to take some money off the table today. These two scenarios along with the lack of quality breakout or high volume candidates helps me come to the conclusion a short term pullback is about to get started. I would always like to be wrong, when I see this happening. But at least I am ready, if it does.
New Swing Longs: NSS PPC TAYC MPWR MMSI ILMN SUG AVTR ACP
New Swing Longs If There Is A Pullback: CNVR IRIX
Longs That Looked Great Today: TALX ENG FSL CTRX ABP ENY BCON GEOI ABLE WEL DENN STEM RADS PRLS TGE BBSI
New Swing Shorts: WEN NCR SGR BNK AMWD
Aloha
8 comments:
Thanks for the tip. I love the stock market.
Blurrz,
Here are the correct ones:
Vol > 100K :
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(C > AVGC50) AND (AVGC50 > AVGC200) AND ((((C - C1) / C) * 100) > 0.01) AND (V >= 1.5 * AVGV50) AND (AVGV50 >= 1000)
50k< Vol < 100k:
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(C > AVGC50) AND (AVGC50 > AVGC200) AND ((((C - C1) / C) * 100) > 0.01) AND (V >= 1.5 * AVGV50) AND (AVGV50 >= 500 AND AVGV50 <= 1000)
Use this and you should get same numbers as Aloha.
-Bala
Yeah, in your previous post, you had some funky stuff going on in the ((((C-C1 / C) * 100 > 0.01) formula, which I was able to fix after some tinkering.
Thanks for your help!
Thank you so much, Bala, for all the great help you are providing.
And thank you to everyone who enjoys reading my little blog. I apreciate all the kind words; even the negative ones too.
Hi Josh
Today I made a PCF on TC2005 to find potential shorts based on the simple instructions you gave me a few day ago. I wanted to check with you if this correct or any changes are needed
((((C - C1) / C) * 100) < 0.01) AND (V >= 1.5 * AVGV50) AND (AVGV50 >= 1000) AND C > 10
I have only changed the minimum price from 5 to 10
Does it look right? Anything missing? Thanks
luca,
You need to refine further. The current selection will get you all stocks that are great that $10 and down today on 1.5 times volume or greater. Some of the stocks in this list will be above 50 and 200 moving averages and you don't want to be shorting these unless they are really breaking or topping out.
If you want, you can add one more condition to filter the stocks that are below 50 or 200 or both. This list will be small and easy to scan.
Just my $.02.
-Bala
Thanks bala,
I will follow your suggestions gladly and see what I come up with. What is better in your opinion: 50 or 200?, or even better two separate EasyScans one for <50 and the other for <50 and 200? Further if I can profit of your time is it OK to keep the minimum at $10 or is better to decrease to $5?
Yes for both. I would like to see the stocks below the 50dma and the 200dma. A lot of time I short when price above these levels I get stopped out. Also shorting in an uptrending market is never a good idea. Proof of it is the little gains, slow gains, and harsh reversals recent shorts have produced.
Usually the best shorts show up, after the market has already given multiple 1.5% plus down days on heavier volume.
Right now, the stocks I am long are getting trimmed along the way up and new buys are hard to come buy. This is probably the proper action right now and not shorting.
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