rrochon
117 posts
msg #27965
- Ignore rrochon |
8/22/2003 6:56:46 PM
I have been looking for stocks to short and tried this simple filter:
Show stocks that have been trading in a 45 day channel and price closed above upper bollinger band and average daily volume(90) is above 100000 and add column MFI.
Be sure to add indicators MACD, RSI, and Stochastics.
Check out the charts, especially SMTC, IFSIA, MCRL, ICST and UMC.
Especially SMTC has a large upper tail, but they all look pretty good to short, with supporting indicators confirming.
I's like to hear what you have to say.
BTW PNK and GADZ came up on my Muddy/HG filters on 8/20, but today I took a loss on both.
Dick
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TheRumpledOne
6,411 posts
msg #27966
- Ignore TheRumpledOne |
8/22/2003 7:02:25 PM
That should get you the ones that peaked.
Feel free to change 99 to 98, 95 or 90 to suit your needs.
I believe a stock has to be over $5 to short.
BEST OF LUCK WITH YOUR FILTER.
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mojie
2 posts
msg #27976
- Ignore mojie |
8/23/2003 1:37:53 PM
The filter shown above looks like it could and does get one caught in bear traps {short squeezes}.
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txtrapper
548 posts
msg #27978
- Ignore txtrapper |
8/23/2003 2:42:49 PM
Mr. Bollinger notes the following characteristics of Bollinger Bands.
When prices move outside the bands, a continuation of the current trend is implied.
tx
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deprez
60 posts
msg #27979
- Ignore deprez |
8/23/2003 4:13:03 PM
Why did you add column MFI? What values are you looking for in MFI?
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mojie
2 posts
msg #27982
- Ignore mojie |
8/23/2003 6:14:33 PM
The filter shown above looks like it could and does get one caught in bear traps {short squeezes}.
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rrochon
117 posts
msg #28044
- Ignore rrochon |
8/25/2003 1:22:00 PM
Rumpledone: The two stocks your screen chose would have both made money today, sold short on the open. Thanks for the rec. I tried to use the Fetcher [.....], but it would not work. What's the secret?
Dick
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rrochon
117 posts
msg #28045
- Ignore rrochon |
8/25/2003 1:28:27 PM
Mojie:
True, anytime you sell short you could get caught in a bear trap, just like if you buy stock you can get caught in a head fake. I guess the trick is to set your stops and exercize them.
Holding Longs or Shorts over night, or over the week end, does add some dangers, even if you have your stops placed, because news that is released after the close can cause the stock to gap up or down seriously, and your stop will not get exercized until you have taken a big hit.
If I had my way all news would have to be announced during market hours, but then the insiders and market makers would not have such an advantage, so I guess that will never happen.
Dick
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rrochon
117 posts
msg #28046
- Ignore rrochon |
8/25/2003 1:33:11 PM
Deprez,
Actually I add the MFI column out of habit. It is good for helping find stocks that are at the bottom. Its not needed here.
Dick
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EWZuber
1,373 posts
msg #28048
- Ignore EWZuber |
8/25/2003 2:22:27 PM
If you want to vastly increase the sucess rate of your short positions check to make sure that your stock is overbought on weekly charts also and preferably up against some kind of resistance with poor or deteriorating fundamentals. Notice that IFSIA, ICST are oversold and crossing over to start a new longer term accumulation phase on weekly charts. SMTC and UMC also have fast line crossovers to continue accumulation.
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