Half baked trading scheme (Market Depth)

[skc]

FXJ market depth has truned arund this morning. The rise coincided with the announcement of asset sale.

A valid idea but still need a few arms and legs before you have a trading system.

 

[LifeChoices]

FXJ market depth has truned arund this morning. The rise coincided with the announcement of asset sale.

A valid idea but still need a few arms and legs before you have a trading system.

Yes FXJ did turn around this morning, But it's a bit all over the place. Around 11:00am there was very strong support - up around 50% but now it's back to around 10%. I also noticed just at market open and close the past few days buyers would come in.

DTE on the other hand - which I bought into yesterday also turned around with much stronger support. It was like there were buyers in there ready to pounce - anyway let's see how that goes - so far so good.

 

[LifeChoices]

Probably should explain how DTE came to be on my watchlist.

The asx started heading south on 11 April. So what I did was look at best and worst performers since that period with a daily turnover of over 1M and then examine the ratio of each one.

This morning my computer tells me the ten worst performers were:

+-------+---------+
| code | change |
+-------+---------+
| ERA | -40.57% |
| WEC | -38.18% |
| GNS | -36.29% |
| AKM | -36.11% |
| GRY | -31.28% |
| SDL | -29.59% |
| DTE | -27.72% |
| RSG | -26.84% |
| FGL | -25.78% |
| RMS | -25.77% |
+-------+---------+

And the 10 best were

+-------+---------+
| code | change |
+-------+---------+
| POH | 17.86% |
| TEL | 17.69% |
| MSB | 15.28% |
| TSE | 12.69% |
| SIP | 10.29% |
| CPA | 8.14% |
| TLS | 5.63% |
| TAH | 5.62% |
| SEK | 4.81% |
| EQN | 4.43% |
+-------+---------+

Yesterday the worst had many more sellers with the exception of DTE which had plenty of buyers and GNS which was about even. There wasn't much interest in the 10 best - except for MSB, which has had strong buying support since I started this thread.

 

[skc]

Probably should explain how DTE came to be on my watchlist.

The asx started heading south on 11 April. So what I did was look at best and worst performers since that period with a daily turnover of over 1M and then examine the ratio of each one.

This morning my computer tells me the ten worst performers were:

+-------+---------+
| code | change |
+-------+---------+
| ERA | -40.57% |
| WEC | -38.18% |
| GNS | -36.29% |
| AKM | -36.11% |
| GRY | -31.28% |
| SDL | -29.59% |
| DTE | -27.72% |
| RSG | -26.84% |
| FGL | -25.78% |
| RMS | -25.77% |
+-------+---------+

And the 10 best were

+-------+---------+
| code | change |
+-------+---------+
| POH | 17.86% |
| TEL | 17.69% |
| MSB | 15.28% |
| TSE | 12.69% |
| SIP | 10.29% |
| CPA | 8.14% |
| TLS | 5.63% |
| TAH | 5.62% |
| SEK | 4.81% |
| EQN | 4.43% |
+-------+---------+

Yesterday the worst had many more sellers with the exception of DTE which had plenty of buyers and GNS which was about even. There wasn't much interest in the 10 best - except for MSB, which has had strong buying support since I started this thread.

RMS deserves a close watch imo...