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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Dnorman who wrote (60466)	2/21/2005 4:06:37 PM
From: robb3267	Respond to of 74559

>>>In your illustrative chart for AAPL you mentioned that you do a scan to find your stocks. Is their a scan on Stockcharts that you use to find potential stocks setting up in ascending triangles? Is the first entry on that chart,where the blue line penetrates the white candle? Where would the second entry be at? TIA>>> Hello DN I run a manual scan of the strongest relative strength groups....and seek out those in bullish patterns. Currently the commodities markets are the best source for these type of setups. I spend about 5 hours a week looking for the best type of setups during bullish market phases. The first entry would be at or just above that LOWER uptrendline with a tight stop just below that trendline. This provides the absolute best risk/reward entry. Often times that lower trendline coincides with the 50 SMA which comes into play. Usually I'll give a position anywhere from 75c to 1.50 room in terms of where to stop out. The SECOND entry can be taken upon a move through that upper trendline if volume is on about a 1.5x runrate or greater. Of course you need to extrapolate how much volume you're seeing depending on the time of day and carry that forward. Hope that helps...Robb