<<Suggestions>> I would formulate a 'trading system' of sorts that would have all gemmers come into a chat room or even an e-mailed update and have the prerogative to 'filter out' some of the very many (although they are excellent of course) calls during a trading session. The system would constitute a routine and expectations much like in a classroom session when the last few lessons were reviewed, discussed, opinions given on previous days stocks, news releases,etc.. before taking on an entirely new 'chapter' every day.
Some suggestions and new features..
a) Taking about 3 or 4 watch list stocks that DID NOT move up during the session and/or moved down and put them in a portfolio with either a new trigger or at least have a peek at the chart for the following 24-48 hours. Using the chat room, or intraday updates to only follow these without an influx from too many other stocks (unless of course there is something 'hot' at the moment).. We can always toggle back to SI for more general talk and even more stock tips.
b) Making the watch lists more detailed, but user friendly so they can stand alone even without anything more than intraday updates or just your own tracking outside the realms of SI.. Giving a price and entry target and/or resistance support level or chart pattern I might have seen etc. The pick would be based on daily chart analysis but the strategy could working just as well on 10-minute 15-minute and, for those more advanced traders, 5-minute charts.
c) Have a set list of strategies (i.e. moving average crossover 7,20 or 10/20) with trendline breakout, ADX directional movement signals, bollinger band breakouts, volatility breakouts after periods of consolidation etc, the all important continuation pattern: bullish flag which should be a setback for 2 or 3 days before the stock resumes its strong long-term uptrendm Channel trading etc.).. There are not that many strategies you need. Simple is always the best and its the stock that is the 'star' not so much the complicated indicator patterns.
d) Getting everyone used to the calendar format which will be updated more frequently instead of just 'buy triggers'.. You should be aware of a stock that moves from downtrend to a consolidation trend as well.
There will have to be a 'user friendly' way to get everyone accustomed to end of day or 3 times a day updates on status of stocks that are considered 'hot' or 'getting warmer'..
e) A follow up of earnings plays even more stringently than ever. Just pretend they are IPO's like FREE, SIFY, LBRT or some such mover and don't relegate them to low status because they dont fly 10 points in one session. Ironically its these earnings plays like OCLI, VSH, ADIC, PUMA, CPRT, SCOC, MSTR, MUSE, ALLR, IBIS and a host of others that held their uptrend the longest with the closest to a real 'buy-and-hold' strategy without the volatility and risk of holding some of the IPO's for weeks.
f) Expect signs of topping in the next sessions.. too high a spiking stock, unbelievable runs, volume changes deducing distribution as opposed to accumulation of certain stocks. That's also why we need to fortify ourselves with some 'strong stocks' that still have normal price patterns and are actually in a short term correction or even 15% corrections etc. |
