Richard.......many thanks for your GET scan. It has served also to
raise some questions which have vexed me for some time, and I
hope going public with my questions will be helpful to all. As you are
aware, I tend to look for market turns using oscillators, while your
work indicates that you are a momentum player (Buy Buy Buy,etc...)
Your GET scan is clearly a scan that looks for momentum stocks.
I put it in this morning and ran the search, coming up with several,
ALL of which had progressed well past the turns I have been trying
to find. My first question is, do you activate the "1st Brk Out" in
XTL, or do you leave it unactivated. Unactivated, it brings up many
more names, most of which have been showing Blue bars for some
time. When I activated the "1st Brk Out", I got only 17 names, but
three of them, CYAN, DREAF and PR showed up in my stuff as
having more room to go up. I've been using a 34,13 stochastic
(with a 21 VMA) for trend limits (the MA crossing back through
80 or 20), and unless I activate the "1st Brk Out", I get stocks in your scan that
are turning down in that indicator. My MAIN question is, in your experience, should
one ignore the signs like Stochastics, Oscillators, etc...when getting into a
momentum play, or use them. I'm trying to merge the work I've been
doing with the XLT indicator, but either my stuff signals too soon, and
DOESN'T let you know what the strength of any trend is, or the
momentum indicators are too LATE for my stuff and I'm afraid that
the trend already established might be about to run out of steam. There is clearly
a book in combining Trend Turns and Momentum Surf Riding indicators, and
perhaps you are the person to write it. Thanks for any thoughts you
might have in advance. Best wishes, Chan |
