Maverick, quick question - i recall you saying that you derive many of the stocks you follow from the IBD 50, which I tend to think of (perhaps incorrectly) as the most of the "hot" stocks of the moment. Can you give us a sense of how you might differentiate that list further to find a good trading candidate? Understand if you would rather not say. Thanks very much.
The ACD Method
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Maverick, quick question - i recall you saying that you derive many of the stocks you follow from the IBD 50, which I tend to think of (perhaps incorrectly) as the most of the "hot" stocks of the moment. Can you give us a sense of how you might differentiate that list further to find a good trading candidate? Understand if you would rather not say. Thanks very much.
Anyone track TSLA and want to share their number line value? I have it at +8 which seems oddly low for something that's been so bullish-looking the last few months. Seems like some large opening range moves and gaps account for the lack of +2's in my scoring. Just curious if anyone else shows the same thing. It made a QTR up and retested successfully but since my NL was not confirmed I decided not to trade it.
I don't trade stocks but just to validate my recent effort at NLs, I calculated todays NL for TSLA at +15. However, on the day of the retest of the QAUp as you mentioned, it was +6.
QTR A up in the ES is around 2013.
don't be too discouraged that your NL does not match up with the TSLA strength. This is a perfect example of what Mav was talking about regarding the popular tickers. TSLA is VERY crowded. It fit in with ACD much better when it pulled back 40% earlier this year and people thought the run was over.
One of ACD's strengths is that it points out consistency. I'd honestly rather trade something that scores a 2,2,2,2,0,0,2,0,2,0 and is only up 10%, than something that scores a -3,0,4,-3,0,0,2,-2,3,-2,0 and is up 25%. Does that make sense?
Once we have confirmed number lines, the targets melt away. This is a "significant" breakout in the dollar. I'll give anyone a free cookie if they can tell me what is the "likely" driver for the dollars strength and why it's going to get significantly stronger because of this driver. It's a pretty big cookie too. Not like those small ones I use to give out before.
