| StockFetcher Forums · Filter Exchange · RSI(2) - The Little Indicator That Could | << 1 ... 5 6 7 8 9 ... 26 >>Post Follow-up |
| TheRumpledOne 6,529 posts msg #29850 - Ignore TheRumpledOne |
11/13/2003 8:53:10 PM http://www.optionetics.com/articles/article_full.asp?idNo=8558 Master money management and you will make money. Spend twice as much time reading the article than you do tweaking filters. READ IT EVERYDAY. MAY ALL YOUR FILLS BE COMPLETE. |
| mika 131 posts msg #29857 - Ignore mika |
11/14/2003 2:04:35 AM Avery, I haven't slept in over 24 hrs. Been reading almost non-stop the stuff on em sites. I feel like a kid in a candy store. Thanks again. |
| EWZuber 1,373 posts msg #29867 - Ignore EWZuber |
11/14/2003 1:07:54 PM Avery, ran your RSI(2) filter this morning and found an interesting one, MEM. This company has been losing money for at least 5 years and just recently turned their first 2 quarters of profit. Ths stock is forming a Bullish Wedge pattern now. These are the kinds of turn around plays that if caught in the beginning stages can earn triple digit ( or more ) gains. Monthly chart stochastics showing the bullish oscillation in the overbought range, Weekly and Daily chart stochastics show a fast line cross above the slow line. Looks like it could be a long term gainer. Stock had a short term trendline break this morning but found the stock too late. It's slighty overbought on Hourly charts now, watching it closely. Found another one while running one of my oversold screens. POSO, also forming a Bullish Wedge pattern. This one lost money and had increasing losses for at least 8 quarters and recently has posted two quarters of earnings. POSO looks like it could be a long term gainer. Weekly and Monthly chart stochastics are showing a fast line cross above the slow line. Looks like they are taking out the stops right now and it is oversold on Hourly chart. |
| TheRumpledOne 6,529 posts msg #29868 - Ignore TheRumpledOne |
11/14/2003 2:35:36 PM Mika, market red, go to bed...LOL! Just kidding..hehehe EWZuber... glad you see the merit in RSI(2)! MEM and POSO look like traders. MAY ALL YOUR FILLS BE COMPLETE. |
| mika 131 posts msg #29871 - Ignore mika |
11/14/2003 3:38:08 PM A, I just woke up not too long actually. I see I didn't miss much. ;) |
| EWZuber 1,373 posts msg #29873 - Ignore EWZuber |
11/14/2003 4:01:01 PM therumpledone, Some of the best entries are on down days. Thats when supporting trendlines and moving averages are tested as support and offer an entry. Bids on POSO got huge at $0.48. |
| TheRumpledOne 6,529 posts msg #29874 - Ignore TheRumpledOne |
11/14/2003 5:11:40 PM EWZuber: Funny thing is... I usually make more $ on down days. I haven't bothered posting more RSI(2) calls. It should be self explanatory by now. Wouldn't want anyone to think I was bragging...LMAO!! MAY ALL YOUR FILLS BE COMPLETE. |
| EWZuber 1,373 posts msg #29884 - Ignore EWZuber |
11/15/2003 5:15:59 PM I don't worry about it. I post the failures along with the successes because failures are just as informative as successes. It doesn't cast me in a light of infalibility or superiority but thats not what I'm am here for. I'm here just to share, learn and make money. |
| keithray 13 posts msg #29886 - Ignore keithray |
11/15/2003 7:27:26 PM EWZubber, On 11/14 you mentioned MEM. Did you check the insider trading? I did. The insiders are BUYING and have been buying for the past 3 months. If I read this correctly, 40% of all shares are held by insiders. Something is 'happening' with this stock, volume increased dramatically at the end of September, when the price went straight up for several days. The stock is currently in a slight pullback and during this pullback, volume has declined. But, volume is still high. Total revenue tripled the last quarter as compared to the previous quarter. And, revenue is more than 5 times higher than last year, at this time! Net income is down this quarter as compared to last quarter. Don't know why. I am not much for fundamentals and fundamental analysis of companies. Evidently, since the insiders are buying, and buying, in what appears, a big way, there is something positive happening with this company. I would like to mention something else you said. You said,"I post the failures along with the successes because failures are just as informative as successes. It doesn't cast me in a light of infalibility or superiority but thats not what I'm am here for. I'm here just to share, learn and make money." I very much agree with what you say and your attitude. Actually, the failures are usually much more informative than the successes. By studying our failures, we learn how to avoid them. It seems that learning to trade is all about failures and learning from those failures. The most difficult part of trading is to actually learn from the failures, remember what you learn, and don't make the same mistakes repeatedly. In my opinion, trading is all about probabilities. Because a stock does not do as expected, we need not label it a failure. Trading is a game of probabilities, and it is the total of trades over a period of time that determines overall success or failure. We need to analyze the stocks that 'fail' to perform as we thought they might. Learn what we can from the behavior of the stock or pattern. There are so many factors that can affect what happens to the price of a stock on any given day and a lot of those factors may have nothing to do with the stock itself. The market can be down...the sector can be down...bad news concerning a similiar industry...a guru opens his mouth and says dump those stocks...and etc. So, it is not really a matter of stocks being 'successes' or 'failures'. Instead, there are a range of factors, some we know and many that we don't, that affects a stocks price. We play the odds. Studying our 'failures' is a means of trying to improve our odds. And, as you say, it is not about infalibility or superiority. These are emotions and emotions have no place in stock trading. In summary, MEM looks good! And, I like what you said in your post about trading! Sure took me a lot of words to get the point. :) Keith |
| EWZuber 1,373 posts msg #29894 - Ignore EWZuber |
11/16/2003 5:10:35 PM keithray The subject of learning from failures was really driven home when I started trading back in 99. I bought CMRC at about $250. A day or two later it rapidly dropped to about $200 and finally down to about $150. This caused me to look into what had caused such a dramatic decline on heavy volume. Turns out the stock had just unlocked millions of shares so that insiders involved in the IPO process could now cash in at these lofty prices. I learned that often times IPOs will start trading with a tiny fraction of the outstanding shares in their float. Companies like PPRO, ETYS and CMRC started with as little as 9% in the float with as much as 91% of outstanding shares to come available for trading when the lockup period expired 180 days after the IPO became public. When the stock first begins to trade publically there are so few shares in the float the stock often skyrockets because the supply is extremely limited. When the remaining shares are unlocked then the price plummets from massive dilution or increased supply. So what I did was turn the situation around and after charting many similar scenarios began to short stocks that were unlocking. This worked much better. Just one example of turning a bad situation to ones advantage. I also learned that if the company is profitable that this unlockup can create a once in a lifetime buying opportunity also. When the stock bottoms out after the unlockup and breaks trendline resistance they often shoot back up and never look back. Sometimes insiders don't sell at this first opportunity but hold onto their shares because they suspect they can get better prices on down the road. In this case just the fear of the possibility of insders selling drives the stock down temporarily, offering an excellent buying opportunity. Thanks for the heads up on MEM. I didn't check the insider activity ( shame on me ) but I suspect that with the turnaround in the bottom line this one could easily be going places longer term. A good example of a turn around on fundamentals is MTEX. If you use Bigcharts and bring up a 3 year chart, under the heading 'UPPER INDICATORS' select 'Show Earnings With Value'. It is easy to see what happened here. In August and November of 2002 the stock started to show actual earnings. In December the stock broke trendline resistance and never looked back. The stock is now up about 897% from that trendline break. |
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