IIC, Interesting list . Now we wait for sideways movement, then pounce on volume jump? Would 50% volume jump on rise do it? Also a couple other questions. What would you say is the biggest difference between your methods and those of the typical day traders of say 1998? Is there a target percentage of winners you aim for (other than 100%). How short term is your average trade? Are you constantly tweaking your model. Does it significantly change during a downtrend? Thanks, billyjoe
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Originally posted by billyjoeIIC, Interesting list . Now we wait for sideways movement, then pounce on volume jump? Would 50% volume jump on rise do it? Also a couple other questions. What would you say is the biggest difference between your methods and those of the typical day traders of say 1998? Is there a target percentage of winners you aim for (other than 100%). How short term is your average trade? Are you constantly tweaking your model. Does it significantly change during a downtrend? Thanks, billyjoe
I am not a Daytrader...I am a Short Term Momentum Trader...short term means 1 day to 2 weeks in most cases...Avg. maybe 3-5 days???
I feel very good if I can pick gainers(that I actually sell for a gain) 67% of the time in a Bull...About 40% of the time in a Bear. The key is to make more on your gainers than you lose on your losers. I plan on the occassional 20% plus gainers in a day or two also. This week I made 20% on FMTI from Wed to Thurs. My fave buy this year was SMTI...I BOT on 1/2 and more at the open on the B/O day on 1/8. That was a PERFECT tight base/lo vol stock. I also pulled it off on NANX in December...but that was a Groups on the move play.
I was a long term Canslimmer from before IBD which was first published in 1984...I used DailyGraphs before that. I don't remember it being called Canslim back then though. I started making adjustments in 2000 and sort of floundered till last July even though I was up in 2000, 2001 and 2002...not much in '00 and '02.
Last July I met my trading partner who is the best short-Term Mo-Mo trader I ever met...I have learned a lot and I still am...So far...So good.
My biggest problem is Missing B/O's and not selling at the right time. The first one is in the process of being solved...The second one...Well, I'm working on it...
Since I think the NAZ stinks right now Very Short Term...I am just going to watch the bases this week. Last week I started with 300 on my watchlists...this week I will try to keep it under 100...Best, IIC"Trade What Is Happening...Not What You Think Is Gonna Happen"
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Here are some more over $6 RS 80-89
NRGN
ESC
AMSWA
ADEX
TESS
LIOX
SAY
ACO
RCMT
VXGN
ORCT
ANEN"Trade What Is Happening...Not What You Think Is Gonna Happen"
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IIC 100
Well, I reviewed all 7,168 charts of the stocks on the NAZ, NYSE and AMEX just so all of you could relax and enjoy your 3 Day Holiday weekend.
Here is what I came up with...All have recent tight bases on low volume...some longer than others. If you play these type you know there are several ways to trade them. The two most common would be to buy and wait for a possible breakout...If that is your cup of tea you should do a thorough DD on each one you are interested in. The other common way to play these is to put them on watch and buy at the vol. B/O...If AND when it happens.
All are in the top 96 groups and have an RS of 80+...They are not sorted in any particular order...I will leave that up to you if you are interested...IMO some are not really playable...but there again, I will leave that up to you:
NRMX Neurochem Inc
OPTK Optika Inc
INOD Innodata Isogen Inc
LOUD Loudeye Corp
GMXR G M X Resources Inc
RFIL R F Industries Ltd
WPSC Wheeling Pittsburgh Corp
SCOX S C O Group Inc
MGIC Magic Software Enter Ltd
SEMI All Amer Semiconductor
IMX Implant Sciences Corp
SCIX Scitex Corp Ltd
FVE Five Star Quality Care
PCYC Pharmacyclics Inc
EGOV N I C Inc
AVCI Avici Systems Inc
THER Therasense Inc
TFN Transnational Finl Netwk
CTE Cardiotech Intl Inc
BRLI Bio Reference Labs Inc
ANIK Anika Therapeutics Inc
DFC Delta Financial Corp
ENCY Encysive Pharmaceuticals
CYTO Cytogen Corp
TMWD Tumbleweed Communication
AWIN Arch Wireless Inc Cl A
WJCI W J Communications Inc
IVIS I C O S Vision Systems
POZN Pozen Inc
CMTL Comtech Telecomm Corp
DSCO Discovery Labs Inc
BETA Beta Oil & Gas Inc
COR Cortex Pharmaceuticals
NRGN Neurogen Corp
ESC Emeritus Corp
AMSWA American Software Inc A
ADEX A D E Corp
TESS Tessco Tech Inc
LIOX Lionbridge Technologies
SAY Satyam Computer Svcs Adr
ACO Amcol International Corp
RCMT R C M Technologies Inc
VXGN Vaxgen Inc
ORCT Orckit Communication
ANEN Anaren Inc
DATA Datatrak Intl Inc
LCAV L C A Vision Inc
MOBE Mobility Electronics Inc
MTEX Mannatech Inc
DECK Deckers Outdoor Corp
PSYS Psychiatric Solutions
FBAY Frisco Bay Inds Ltd
ALOT Astro Med Inc
DRTK Duratek Inc
IMCO Impco Technologies Inc
GBX Greenbrier Companies Inc
VANS Vans Inc
BONT Bon Ton Stores Inc
LFL Lan Chile S A Ads
JCC Jilin Chemical Indus Ads
PTEK P T E K Holdings Inc
UTK U T E K Corp
JUNO Juno Lighting Inc
So now...Some of you are saying to yourself...What the heck is wrong with IIC???...He can't even count!!!...But give me a break...
Which sounds better???
The IIC 100 or The IIC 63???"Trade What Is Happening...Not What You Think Is Gonna Happen"
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BOT VXGN"Trade What Is Happening...Not What You Think Is Gonna Happen"
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BOT HBIO...I'm done today unless the NAZ goes up more...we have some resitance at 2070"Trade What Is Happening...Not What You Think Is Gonna Happen"
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BOT LOUD 2.25"Trade What Is Happening...Not What You Think Is Gonna Happen"
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SLD SWIR at the end 28.76.
LCAV announces pre mkt...I held
Other holdings OPTV, LOUD, VXGN, HBIO"Trade What Is Happening...Not What You Think Is Gonna Happen"
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I am going to pick up some loud tomorow morning if the naz sells off. I like the chart. I picked up some ATAR today at 3.24, I am going to sell at 3.35 - 3.40. Its a rebound play, look at the chart, MACD cross in two day and RSI is down down down. HAPPY trading.
ps LOOK AT LAMP
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Originally posted by Michaelk005I am going to pick up some loud tomorow morning if the naz sells off. I like the chart. I picked up some ATAR today at 3.24, I am going to sell at 3.35 - 3.40. Its a rebound play, look at the chart, MACD cross in two day and RSI is down down down. HAPPY trading.
ps LOOK AT LAMP
THX...I will take a look...LAMP up 40%...Don't worry, I got plenty of emails on that today...But What The Heck...14% wasn't bad!!!
Think LOUD could be the next TASR??? LOL=Laugh Out LOUD.
Been a Tuff Year...Up OK and it's been FUN...but let's get some BIG BUX going here...Best, IIC"Trade What Is Happening...Not What You Think Is Gonna Happen"
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LCAV...Yippee!!!
7:22AM LCA Vision beats, guides higher (LCAV) 23.19: Reports Q4 (Dec) earnings of $0.19 per share, $0.08 better than the Reuters Research consensus of $0.11; revenues rose 56.1% year/year to $20.8 mln vs the $20.2 mln consensus. Company sees Y04 EPS of $0.90-0.95, up from company's prior guidance of $0.80-0.85 and better than the Reuters consensus of $0.88."Trade What Is Happening...Not What You Think Is Gonna Happen"
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Originally posted by Michaelk005Atar hits $3.33 in after hours trading, I will sell tomorow at $3.36.
Im going to Short LOUD if I have the opportunity, the trend for every 10% or over spike in price is followed by a period of 4 - 5 days of consec sell offs. Ill see how it goes.
I SLD during the C/C...then BOT back...I HATE this stock"Trade What Is Happening...Not What You Think Is Gonna Happen"
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NAZ Futures up 13.5 right now"Trade What Is Happening...Not What You Think Is Gonna Happen"
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BOT CCBL"Trade What Is Happening...Not What You Think Is Gonna Happen"
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