Now that's a good question. I translated the Cooper scans from a series of Metastock versions sent to me. Two people sent me the "Whoops sell" scan, and one called it "Whoops sell," another the "Cooper Whoops Short Sell Setup." Here's the Metastock coding:
C>Mov(C,10,S) AND
C>Mov(C,50,S) AND
O>Ref(C,-1)+0.25
The supposed "Whoops buy" is:
C<Mov(C,10,S) AND
C<Mov(C,50,S) AND
O<Ref(C,-1)-0.25
Seems odd, huh?
Either the names of the scans are reversed, or the scans are designed for playing the gap. In other words, if the stock gaps down, expect the stock to reverse to the upside and fill the gap. If it gaps up ... well, you get the idea. Richard, I think, has put it best: "Gaps like to be filled." But I don't know whether that's really what Cooper intended with these scans. I just did the translating; thinking is above my pay grade.
Maybe someone who knows more about Cooper scans can sort this out.
Thanks for raising the question. Illumination will have to come from another corner. This one's in the dark.
Brooke
|
