Search results

Actually newtoet, because the authors of the NRID setup consider it to be a multi-day trade, today's action is day #1, and the expectation should be for more down days to follow. It will be interesting to see how this works out. Thanks for the update.

Lol!!! And so the story continues....

Here is the X chart once again following today's conference call. This chart has the hourly volume on it. Again, I am just regurgitating what I have read and subsequently experienced.... there is no secret to anything I am posting. X broke down earlier in the day without a surge in volume...

Maybe it shouldn't, but it does to me system'. Caveat: everything I do is empirically observed and not statistically. :) Although, if the inside day is only 35% or so of the ATR, then it becomes more significant. I am looking for compression. In fact, one of the scans I am playing with now...

Not so new any more newtoet! You're closing in on a year as a registered member. :) This is an excellent chart to highlight not only the NRID pattern but also divergence between indicator and price. The low price and low volume of the stock will make it interesting to watch. By no means...

The X chart helped me preserve a nice profit. A few days ago I had sold Aug 35 calls against X at 1.65 when X closed below the 20 day sma. Theta and price worked in my favor going forward. When today's break down appeared to fail and price moved back into the pattern prior to the conference...

My bad... sort of. Although there is an earnings cc today at 2pm, the earnings are posted and X did well, along with forecasting a "robust" third quarter. Remember then, the farther price moves into the apex after the 2/3 zone, the less foretelling the pattern becomes.

X update. This pattern is presently 2/3 through which is "classically" the prime zone for a break. However, earnings CC is today at 2pm which might delay any dramatic activity. Selling yesterday's resistance worked out... however if X had rallied from there the loss would have been very...

X

Hey Seth'! You're absolutely right imo. I have tried only one real time screener and it is StockWatch Pro. I know I rave about it, and I am not affiliated with the company in any way. It's just that if you have an idea, you can code it quickly and scan for it real time and watch it from...

Trader', riskarb is a good friend of mine. Not only is he a brilliant person, but he is also an extraordinary options strategist. If you have an interest in options you will find his posts very worthwhile reading. In general it is an astute crowd that hangs in the options forum. That's why I...

Trader' I have experienced the same re: gaps, which led to my thinking about looking only for a return to the ATR versus an increase. The spreadsheet of results task should/could be ready by this evening. I have been working on one with StockWatch Pro that will easily compile the data for...

Interesting that you should mention it Trader'. and btw, welcome to ET. No, I am not looking for an increase in the ATR. At best, I am looking for a return to the ATR. Easyguru is looking for a multi-day trade, but I would guess his answer is no - logically, but yes - hopefully. I mean who...

A rose by any other name..... A couple of the distinctions that Edwards and Magee make between the two formations regard time and the character of the preceding move. A more dramatic move and a shorter time period in the pattern tends to get the name "pennant." However, both symmetrical...

Uptik'!!!! Yeah man, welcome aboard. :) Your first contribution is fantastic. It perfectly illustrates the scenario I was trying to describe to hombre. In this case BRO has formed a very nice looking pennant, while also qualifying as a NRID7... 9 actually. I'd call this a pennant because...

Sometimes the NR7 patterns form geometric patterns along the way. There is some directional predictability to these patterns... although a failed pattern is just as valuable as one that doesn't fail. An excellent site to review these types of patterns is www.chartpatterns.com. As far as I...

Backman those are excellent examples of the power of this trade. NVE highlights an excellent point about using the NRID setup to find consolidation patterns. NVE first qualified as an NRID on Tuesday. Wednesday's trade did not trigger an entry. But look at Weds range! It's even narrower than...

Nice chart snoop'. It will be very interesting to see how traders commit prior to earnings. The bottom of the triangle coincides with the 20d sma. Thanks for the post.

Sure, that sounds like a more reasonable number anyway. Of course we might have to endure the criticism that it doesn't properly represent the entire list blah blah; and, we know from previous threads that we don't even want to touch the topic of "random selection". :) How about this? This...

Here is the list for today of SP500 candidates for today. I deleted those that were less than $10. ADBE, AES, AW, AT, BFO, BCC, BNI, CEN, CHA, CSCO, CSC, CBE, COST, CR, DELL, DNB, F, HCR, HSY, N, JCI, KBH, KMB, KLAC, MAT, MYG, NSM, OKE, PGL, PEG, S, THC, TEN, TNB, TOY, UN, VFC, WFC. Gee...