<img align="right" src="/images/epl_chart.gif">Look at what happened to EPL about 2 weeks ago. I see a lot of that panic type selling lately where the stock rolls over, there is volume at the bottom, but then it recovers about 70%. Can anyone think of a scan that would be able to detect these types of moves?
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great new pattern
- Thread starter praetorian2
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Thanx to whoever put the chart in, but if you can do it with the volume also, it really shows what I mean (unfortunately it only trades like 50k a day which is a bad example, but these thin ones seem most severe. When a firm wants out of something fast that is thin, then they really knock it down). I can give you other names that have done this in the last week if you want more examples, but look at APW (which I played), EAGL, WIND, GNSC. (I wish I had played the other 3) Some don't work, which is why I guess that you use stops.
Quick question? Was there particular news on that day?
I'm on vacation and have been testing systems. I don't know that stock well. One of my coaches trades off of the news on a stock. He sees if the news is significant towards the move. If the move is parabolic he will catch a ride but watch market makers and follow them when they change sides on the public. (magic of Level 2) or he will just fade the initial public action. This is what he is currently teaching me, and can be easily done.
I imagine you could just scan for 40%+ moves in a direction in a day. Usually that means market in need of a correction.
I've seen stocks with a lot more volume be manipulated. It's great to be the AXE. I was trading a drug stock a few months back watched over 500,000 shares trade in the morning moving it about 1/8 of a point. 10,000 shares about 30 minutes later knock the stock down over 25 points. I'm not kidding! It then traded a few more hundred thousand I think like 600,000 moving the stock up about 1/16 and afterwards it goes back 15 points on about 40,000 shares. This was one powerful AXE. He moved the stock down to execute for some instituition and he did it well. I was quickly stopped out, and won't trade that stock again.
rtharp
I'm on vacation and have been testing systems. I don't know that stock well. One of my coaches trades off of the news on a stock. He sees if the news is significant towards the move. If the move is parabolic he will catch a ride but watch market makers and follow them when they change sides on the public. (magic of Level 2) or he will just fade the initial public action. This is what he is currently teaching me, and can be easily done.
I imagine you could just scan for 40%+ moves in a direction in a day. Usually that means market in need of a correction.
I've seen stocks with a lot more volume be manipulated. It's great to be the AXE. I was trading a drug stock a few months back watched over 500,000 shares trade in the morning moving it about 1/8 of a point. 10,000 shares about 30 minutes later knock the stock down over 25 points. I'm not kidding! It then traded a few more hundred thousand I think like 600,000 moving the stock up about 1/16 and afterwards it goes back 15 points on about 40,000 shares. This was one powerful AXE. He moved the stock down to execute for some instituition and he did it well. I was quickly stopped out, and won't trade that stock again.
rtharp
do you remember what drug stock that was. To the best of my knowlege, there was no news on that stock. Just an institution that was in a hurry to sell it, and since it was illiquid, they had no choice but to knock it down.
Praetorian
I could imagine to use following scans with bigeasyinvestor ( EOD data ) to detect the bottom of such a move :
1. Last >= -50% of price 30 days ago
2. Prev = 52 week low ( optional )
3. Close > Open
( this would refer to the last day of data )
4. Average volume 6 months : 450.000
( to avoid thinly traded stocks )
5. 52 week low >= 10 USD ( optional - to avoid pennystocks )
6. Average volume 1 months > 200% of Average vol. 6months
7. Volume change ( last day of data compared to prev ) > 100% ( I suppose you want to see rising price with increased volume )
8. Day's Range > Average daily range
9. close > prev ( optional )
Alternatives to use within BE scans :
if you want further confirmation for the turnaround:
En-fuego-Meter = red
1. Last >= -50% of Price 30 days ago
2. 3 higher days = yes Or 3PB Reversal= yes
3. Day's range > average daily range
4. Close > Open
5. Close > Prev
6. Volume change > 100%
Additional technical indicator readings ( optional )
Stoch crosses up 20 or 25 = yes ( you should see this at a rebound)
and / or
Prices crosses up 10day MA
and / or
RSI >= 30 ( you might want to see at least some strength )
MACD's are too slow for such a scan.
Will check these scans by myself later today. Could imagine some more scans but have to test.
http://www.bigeasyinvestor.com
regards &
I could imagine to use following scans with bigeasyinvestor ( EOD data ) to detect the bottom of such a move :
1. Last >= -50% of price 30 days ago
2. Prev = 52 week low ( optional )
3. Close > Open
( this would refer to the last day of data )
4. Average volume 6 months : 450.000
( to avoid thinly traded stocks )
5. 52 week low >= 10 USD ( optional - to avoid pennystocks )
6. Average volume 1 months > 200% of Average vol. 6months
7. Volume change ( last day of data compared to prev ) > 100% ( I suppose you want to see rising price with increased volume )
8. Day's Range > Average daily range
9. close > prev ( optional )
Alternatives to use within BE scans :
if you want further confirmation for the turnaround:
En-fuego-Meter = red
1. Last >= -50% of Price 30 days ago
2. 3 higher days = yes Or 3PB Reversal= yes
3. Day's range > average daily range
4. Close > Open
5. Close > Prev
6. Volume change > 100%
Additional technical indicator readings ( optional )
Stoch crosses up 20 or 25 = yes ( you should see this at a rebound)
and / or
Prices crosses up 10day MA
and / or
RSI >= 30 ( you might want to see at least some strength )
MACD's are too slow for such a scan.
Will check these scans by myself later today. Could imagine some more scans but have to test.
http://www.bigeasyinvestor.com
regards &
praetorian,
I used following scan in BE :
Enfuego = red
30 day price change > - 50%
Days range > Average daily range
Closing price > opening price
Closing price > prev. day close
Average Volume 1 month > average volume 6 month
Volume change ( last day ) > 100%
I came up with 19 stocks showing patterns like :
http://www.bigcharts.com/quickchart/quickchart.asp?symb=TMPW&sid=0&o_symb=TMPW&freq=1&time=6
http://www.bigcharts.com/quickchart/quickchart.asp?symb=BCRX&sid=0&o_symb=BCRX&freq=1&time=6
http://www.bigcharts.com/quickchart/quickchart.asp?symb=CSTR&sid=0&o_symb=CSTR&freq=1&time=6
http://www.bigcharts.com/quickchart/quickchart.asp?symb=HQH&sid=0&o_symb=HQH&freq=1&time=6
http://www.bigcharts.com/quickchart/quickchart.asp?symb=LCRY&sid=0&o_symb=LCRY&freq=1&time=6
http://www.bigcharts.com/quickchart/quickchart.asp?symb=SRCL&sid=0&o_symb=SRCL&freq=1&time=6
I'd say, some of them are pretty close to what you are looking for.
One could refine this scan by using Metastock but I havven't had the time to do it.
Good Luck
I used following scan in BE :
Enfuego = red
30 day price change > - 50%
Days range > Average daily range
Closing price > opening price
Closing price > prev. day close
Average Volume 1 month > average volume 6 month
Volume change ( last day ) > 100%
I came up with 19 stocks showing patterns like :
http://www.bigcharts.com/quickchart/quickchart.asp?symb=TMPW&sid=0&o_symb=TMPW&freq=1&time=6
http://www.bigcharts.com/quickchart/quickchart.asp?symb=BCRX&sid=0&o_symb=BCRX&freq=1&time=6
http://www.bigcharts.com/quickchart/quickchart.asp?symb=CSTR&sid=0&o_symb=CSTR&freq=1&time=6
http://www.bigcharts.com/quickchart/quickchart.asp?symb=HQH&sid=0&o_symb=HQH&freq=1&time=6
http://www.bigcharts.com/quickchart/quickchart.asp?symb=LCRY&sid=0&o_symb=LCRY&freq=1&time=6
http://www.bigcharts.com/quickchart/quickchart.asp?symb=SRCL&sid=0&o_symb=SRCL&freq=1&time=6
I'd say, some of them are pretty close to what you are looking for.
One could refine this scan by using Metastock but I havven't had the time to do it.
Good Luck
thanx privateer... I think we have hit on something here.
Praetorian2
indeed, it looks very interesting. Hope you had a chance to have a look at the charts I posted yesterday.
Thought you wanted to catch those stocks at the first confirmed sign of their uptrend after having hit the bottom.
If you have any additional ideas on the subject, let me know. BE is not the worst tool for those kind of screens. Although I must admit, if you need more fine-tuning ( i.e. on certain time periods ) we would have to use MetaStock since BE provides only fixed criteria - such as 5 day price or 30 day price.
Anyway, I'll follow these scans for a while to see how they turn out and which stocks may show up in next couple of scans.
If you don't mind, I'll send you a list of todays results by e-mail. .txt file. you can open it with excel to have all the columns displayed I use in BE.
regards &
indeed, it looks very interesting. Hope you had a chance to have a look at the charts I posted yesterday.
Thought you wanted to catch those stocks at the first confirmed sign of their uptrend after having hit the bottom.
If you have any additional ideas on the subject, let me know. BE is not the worst tool for those kind of screens. Although I must admit, if you need more fine-tuning ( i.e. on certain time periods ) we would have to use MetaStock since BE provides only fixed criteria - such as 5 day price or 30 day price.
Anyway, I'll follow these scans for a while to see how they turn out and which stocks may show up in next couple of scans.
If you don't mind, I'll send you a list of todays results by e-mail. .txt file. you can open it with excel to have all the columns displayed I use in BE.
regards &
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