Hi Richard,
Just found this thread, here is some additional info on the
BIG DOG BOUNCE-
c5>c*1.1 and stoc7.3<30 and stoc28.3>50 and c<100
The above will yield you all stocks qualifying, pivot or not.
c6>c2*1.1 and stoc7.3<30 and stoc28.3>50 and c<100
This slight variation will give stocks that have pivoted.
I wrote this scan to supply me with potential retracement candidates.
All I want is for a stock to go back to where it came from, in this case, its previous high. 8 down to 5.75??? I look at my favorite indicators and decide if I feel I have a good chance of retracing back to 8. I take into account the bid and the ask, a spread of 3/8s or a half is no good. Plenty of stocks have a spread of an eighth or a quarter the most. The stock pivots and I get in for 6.25 to 6.50 and I try to get out when the ask is approching 8.
Things I like to see :
--------------------------------
*prices above the 28ema
*volume drying on way down, resuming on pivot
*at least 10 - 20% between lowest close and previous high during the last 7 - 10 bars.
I want to see a healthy correction, ie, 10 down to 8 or maybe 20 to 17. I always want room to net 1 or 2 points, if I do, I have succeeded.
*STOCH 7,3,10 turning and staying positive
If after the pivot the stock stays flat or goes down, I get out because thats not what I want to happen. I want big strength going to new highs, I then want the theater to empty and then fill up for the next show. If its not filling up, there may not be a 'next show' I get out and go home. This all happens fast, usually in 3 to 7 bars.
Again, this is will provide very short term candidates, the expiration date is usually when prices meet the previous high, sometimes it will exeed it and many times not even come close. I stay nimble.
The scan provides leads NOT buy triggers. I use due dilligence and study my indicators very hard when I use this or any scan. There is no such things as the holy grail, all scans work and all scans fail.
Well, that is what I do, I hope by sharing it, it will entice others to share their work as well. These boards will remain active as long as there is participation not lurkation -g-.
Regards, Jerry |
