Runner's Rascals

[New-born baby]

I think volume bars confuse more traders then what their worth..IMO Explain how a stock will move down only 1% with a huge red volume spike and then climb 10% with little volume? How is it that a stock can drop 5% with little volume? I think it is manipulation myself. I thought for every seller there has to be a buyer? Bottom line you really don’t know who is buying or selling based of a volume bar. You don’t know what the market maker or specialist is doing.. This is why I pay zero attention to volume but price bars that set up to my likings I feel has more weight… I use to pay attention to the volume until I realized it was worthless.

I know all the books and experts harp volume. Maybe I’m way off base here, but I’ll tell you this much it works for me. Just like indicators in general. People thinking they are the holy grail….Wrong indicators cloud one’s judgment.. I believe all we need to know about the stock is easily seen through price bars and patterens.

Any system that works for a trader is fine--Jessie Livermore eschewed charts altogether. I am just saying that you are like Derek Lee: he's a great hitter, but don't copy his stance. It isn't his stance that makes him great.

[Runner]

FIZ may offer a swing play. It is currently in a nice P/B into temp support. One may look for trigger point 16.03 off a daily chart. I think a stop just under last lows or 14.45 might work. If current support area is taken I expect a return move to the 14.45 area. Target 17.61 or see how it acts if it reaches old highs..

Market is still in BEAR mode IMO. Yesterday’s one day wonder can not find traction today. Breakouts are not following through for the most part. Maybe yesterday was a short panic. Bear trend is still in place in the Indices. Choppy action warrants quick trigger action to lock it in..

[Runner]

INDICES:

Well despite the recent sell off in the S&P500 I’ve noticed the Index is currently sitting right at the longer-term trendline. Bulls need to wake up. If current trendline is breached I expect a possible acceleration to the downside. Here is a monthly chart of the S&P. Notice the huge reversal by the wide range bar a few months back.

Nasdaq- this one looks pretty sick. The monthly chart clearly shows the wedge that formed. Once again note the huge reversal wide range bar a few months ago. Naz needs to gain some traction and I see the possibility the bottom line may offer support. If this fails we could be in trouble. I also do not like the fact of the Naz being a laggard.


Major Sectors:

Nothing here is really looking hot to me on the long side. I see a lot of chopping and lack of follow through. Top sector is Tobacco and I’m not very excited about it. Bottom sectors Electronics, Materials & Construction, and Manufacturing. I just don’t see the sector charts screaming buy me.

Sub Sectors:
A few that are been doing well despite the overall market action Health Care Plans, Med Lab, Cigarettes, Drug stores, and Utilities. Bottom of the list include Semi related groups, Building Materials Wholesale, Manufactured Housing, and Printed Circuit Boards. The sub sectors really look horrible and do not offer much leadership.

Next Week I plan on just sitting on the sidelines and will most likely not open any swings. I think we are in a day traders market and this means one should be quick to grab a profit when it offers it.

[Runner]

Doing a portfolio experiment using a system to determine long or short. This port is only a 10K example and tickers in red are shorts. Each position is given about 100 risk or about a 10% stop. Port will be updated every 2 weeks and the weakest will be sold. When stopped out I will put in another stock. Stocks were picks based off new highs and new lows. Direction of long or short will also change based off market efficiency. Currently market is showing more shorts than longs. I will use trailing stops once R1 has been met.
I do not own any of these stocks, as this is an experiment I wish to conduct.

[ParkTwain]

Regarding the usefulness of volume study

Interesting chart below:

http://www.parabolicpredictions.com/Is%20Volume%20Important.pdf

[Runner]

Interesting chart below:
http://www.parabolicpredictions.com/...0Important.pdf

Park, interesting link... thankX

[Runner]

Thus far my test port is taking a nice little spanking…No market timing was used and only determination for long or short was an extended glance of a daily chart.

[Runner]

S&P needs to get over top trendline here with some Bull power for the sake of the longs. Now Bears might be trying to sneak in here with the hope of another slap down… Time shall tell…

[Runner]

Banking stocks have been really hitting my scan today for highs
Drugs doing the same, Utilities have been running for awhile.

[New-born baby]

Banking stocks have been really hitting my scan today for highs
Drugs doing the same, Utilities have been running for awhile.

You mean to take them long?

[Runner]

Here a few pop outs… I’m not to crazy about longs right now..

LMT ORB FFFL PBCT BAC OCN PRSP IDA AYE OGE

[Runner]

NB, just trying to isolate what groups are moving. I’ll keep an eye on these guys

[Runner]

Having loaded those few stocks in my screen I see volatility is lacking. Some with a higher HV level are TTG BVX CRAY ACR IHR FLAG AEA

Higher HV gives you a better return with respect to time.. Not always through. The bites hurt more if you get it wrong...

[New-born baby]

Having loaded those few stocks in my screen I see volatility is lacking. Some with a higher HV level are TTG BVX CRAY ACR IHR FLAG AEA

Higher HV gives you a better return with respect to time.. Not always through. The bites hurt more if you get it wrong...

Thanks! I appreciate it all.

[Runner]

Few stocks on my short list. These stocks fit my likings as they fell out of a base and are currently in first pullback. I would like to see them pullback some more..
AIRM RTI JOYG CHE CRYP SIRF WSO LRCX ECOL BJS NTGR UFPI ALKS RYL HAL