Can,
Where is the trend line?
Hi
Nup does not qualify ... upsidedown
Look at my MOS, CUE, NDO, CMO posts
Hi Nizar
Yes ... in my experience.
What I'm looking for is patient buyers and exhausted sellers. Let me illustrate by way of example.
The attached CMO chart is a recent example. Buyers sat at 007 for 18 months and let the sellers actually exhaust themselves at points 1, dumping stock.
By the time point 2 arrives, and the volume kicks in, the sellers are buggered. They literally no longer exist and hence the explosive move as NEW HOLDERS of the stock scramble with each other to get what little is left.
With an ascending triangle its actually the reverse. The buyers do all the work running up to overhead resistance while patient sellers smack them down. If a breakout does occur the buyers have to be relatively more abundant to keep the run going ...
As an aside these two patterns do tend to form at different points in the cycle in a stock ... Decending Triangles can form up during Stage I and form lovely bases - returns 100% + are typical. Ascending triangles tend to form when a stock is already in Stage II. The bull run is taking a pause and some sellers just sit and take out the top of the market as it rallies up. When these triangles are successful the triangle tends to be just a pause in an overall run.
In terms of profitable positions I find the entries in Stage I the most rewarding and most predicable (volume cues a major comforting factor)
I can find examples where the opposite is also true ... such is the market.
When I post a predictive chart (NDO, CMO, ABY, WPL, CUE recently examples) each one I posted as the breakout was occuring and each one .... exhausted sellers ... patient buyers. It's in this way I can get so cocky and post for all to see.
Never discount BIG WHITE weeks with heavy volume into NEW AIR either ... and that's another story.
Hey Dutchy,
Does this one conform to your set up? Is there any other criteria you use?
Does it matter that SEK has had a strong run up in the last 2 or so years? ie Well and truly in stage 2
Looks like a stage 3 to me on the daily.
Nizar or Dutchy or NOMORE4s have any of you coded up a scan for these in either MS or AB?
Nizar or Dutchy or NOMORE4s have any of you coded up a scan for these in either MS or AB?
I believe after reading some of your posts and a little reading on bollinger squeezes, I find this stock appealing to me. NDO, one of your mentioned watch list stocks. It is definately squeezing tightly and hope it breaks up... Any comments welcome as I am very new to this and maybe I am reading to much into it??
Try this cana, post 22, thanks to Peaky.
https://www.aussiestockforums.com/forums/showthread.php?p=159415#post159415
Hi Dutchy,
Here's my AmiBroker code that flags my possible Weinstein trades. It generates about 10 buy signals a day. At the moment I'm just using MACD as the exit.
**********************************************
// WeinsteinScanner v2 amibroker version
// here we define buy conditions and name each one as a variable
PositionSize = -10; // always invest only 10% of the current Equity
Cond1=Volume > 1000000;// Volume greater than....
cond2=H > EMA(C,15); // todays high is greater than the 15 day Exp MA of closes
cond3=C < 3.00; // only trading in stocks less than $3
cond4=C > O; // todays close higher than open
cond5=HHVBars(H,150) == 0; // highest high over the past 150 periods
cond6=C > .01; // only trading in stocks greater than $0.01
// the following line is the trigger if all conditions satisfied
Buy=cond1 AND cond2 AND cond3 AND cond4 AND cond5 AND cond6;
Filter = Buy; // lists exploration results conforming to our buy criteria
AddColumn(Buy, "buy", 1.0); //
//SELL
// ApplyStop( stopTypeLoss, stopModePercent, amount=10 );
// fast = Optimize("fast", 12, 5, 20, 1 );
// slow = Optimize("slow", 26, 10, 25, 1 );
// Sell=Cross(Signal(fast,slow),MACD(fast,slow));
// shape = Buy * shapeUpArrow + Sell * shapeDownArrow;
// PlotShapes( shape, IIf( Buy , colorGreen, colorRed ), 0, IIf( Buy , Low, High));
**********************************************
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