Possible swing plays early next week.. I got a few shorts in the mix. I still don't see much on the long side. http://www.stocktickr.com/George/
Runner's Rascals
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Originally posted by RunnerI like WNR and instead of repeating my post I have my plan on this trade located on my blog thing... http://geoshorttermtrading.blogspot....06/07/wnr.html
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New "parabolic SAR buy signals" as new short setups
Runner, I've been using the StockCharts.com stock scan ( http://stockcharts.com/def/servlet/SC.scan ) named "Parabolic SAR Buy Signals" to watch for swings up for stocks that are close to making a new high. But almost all the Naz stocks found from this scan are steep downtrending stocks that happened to show a new upturn and thus are probably setting up for a new move down. Maybe you are watching for this kind of thing already.
There's so many sh*t stocks on the Naz anyway, that it must pretty easy pickings for putting on new shorts.
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Park, I have a scan that I’ve set up that feeds me the individual stocks that made a new 52 week high. If it makes another high the next day it remains on the list. I’ve also got the same thing for 52 week lows. I then input this data into excel and keep tabs on what is going on. I also monitor several Indices and input stock up vs. down into excel. From this info I compile a pie chart that gives some info I like. For example this week thus far I’m showing Bears have a nice gain over the bulls. In fact the data come out tonight as 76% bear and 24% bull. This does not imply one to run out and short the market. It just gives me a market bias. I run a momentum scan that is very loose from the scans I either confirm or deny my data. I mentioned this before somewhere on this forum. My scans return anywhere from 1000 to 1500 charts. I simply hit my space bar to cycle through and flag anything that remotely looks interesting. From the flagged charts I’ll create a new watch list and then look under the hood at what sectors have the most weight on my list.
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I think what I do is what they call the tops down or bottoms up approach. I like for 3 things to be working in harmony.
1. S&P
2. Sector action
3. Stock
Currently we don’t have the three elements working in harmony and so stock pickings according to my scans have been skimpy. Many might disagree with this but hey like MR. Market has said, “more then one way to make money in the markets”.
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