TC,
I couldn't get back on the net yesterday PM so missed some of the action, but I did get to go over your stock list last night.
I though AMR looked the good, which stock do you think looks the best? Here are some of the observations I made on AMR. If you have time I would appreciate you critiquing the following:
AMR:
Stochastics looks pretty good. The fast(%K) line has bottomed slightly above the 20% line and started to bounce. Also it's starting to cross the slow line (%D) which is good. The slow line has not started up yet. All in all the stochastics look promising, especially if the slow line starts up Monday.
Moving Averages, I used two MA's that are recommended for short term trading, the 9/18 and 10/40. In both cases the short line has crossed over the long line. The closing price and the high price of Friday is above the 40 day MA but not the 10 day. Same thing for the 9/18.
I have an account with E-Trade and did this charting on their site. I know you don't use other oscillators but I checked them, looking for confirmation.
MACD is well above the zero line and headed up. Several of the tech. books recommend using the MACD and stochastics to confirm each other. What do you think?
OBV,ROC, and RS all looked good, above their zero lines and headed up. I only saw two things that were not positive. The closing price was not above the short MA's and the price was near the top of the Bollinger bands.
You probably aren't interested in the other oscillators but it only takes a few seconds to check them and I would think the more confirmation you can get the better.
Once you have selected a good looking stock, do you check other oscillators or does this just complicate the process?
Thanks much for the list of stocks and as always, your comments are appreciated.
Jim |
