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Registered User
Joined: 2/13/2005
Posts: 368
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Have a look at SRS, VXX, and MZZ. I'm rolling them to the launchpad Monday. I'm thinking of setting my stops on CPSS tight. Happy New Years!!
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Registered User
Joined: 10/7/2004
Posts: 2,181
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tk;
What are your goals for these positions?
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Registered User
Joined: 2/13/2005
Posts: 368
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My goal is to milk whatever profit I can get from each stock. I identify 4 - 6 candidates each trading day and put them on the launch pad (conditional orders). I use the previous HOD + .05 (High of Day) as an entry point and the previous LOD - .01 (Low of Day) as the exit. I have a specific max loss amount already defined. For example if the previous HOD is 17.20 and the previous Low of day is 16.95 then I take the difference and do the following - MAX LOSS AMOUNT / (prev HOD - LOD). 200 / .25 = 800 shares.
Unless the stock has a catastrophic collapse, I will usually take no larger than a $200 loss if the trade goes against me at the start.
I use a type of chandalier stop to follow the stock price up once it breaks even. I found that a chandalier stop works alot better than using the previous day LOD - .01. Using LOD, I had too many stocks surge in the middle of the day only to collapse at the end of the day.
Using the TD scans, my success rate has been much improved.
Whatever works I guess..... I'm HAPPY 
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Registered User
Joined: 2/19/2008
Posts: 193
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TK,
Do you have those TD scans handy? If so would you mind sharing them.
Thanks
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Jean;I've posted any number of scans over the years. I can send some but I don't want to muddy the waters. Let's see what TK has been using.
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Registered User
Joined: 2/13/2005
Posts: 368
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I don't want to take away from TD, he is the smart one here. I just did a lot of reading and testing for most of December and use the following pieces of the TD "idea".
from what I can gather, this is the core TD concept scan.
I start off with all stocks and.....
C20 < C30 AND C15 < C20 AND C10 < C15 AND C5 < C10 AND L >= L1 * .95 AND L1 >= L2 * .95 AND L2 >= L3 * .95 AND C >= O AND TSV26 > TSV26.2
I added the TSV26 > TSV26.2 because I wanted a rising TSV
I then sort by 5-Day Volume 496.2 to max
then TSV above Lower Bollinger 13
TSV26 >= AVG(TSV26,13) + SQR(ABS(TSV26 ^ 2 + TSV26.1 ^ 2 + TSV26.2 ^ 2 + TSV26.3 ^ 2 + TSV26.4 ^ 2 + TSV26.5 ^ 2 + TSV26.6 ^ 2 + TSV26.7 ^ 2 + TSV26.8 ^ 2 + TSV26.9 ^ 2 + TSV26.10 ^ 2 + TSV26.11 ^ 2 + TSV26.12 ^ 2 - 13 * AVG(TSV26,13) ^ 2) / 12) AND TSV26 > TSV26.1
then Volume above AVGV120
V > AVGV120
then Open > Linear Regression 30
O > (AVGC30 + 14.5 * (14.5 * C + 13.5 * C1 + 12.5 * C2 + 11.5 * C3 + 10.5 * C4 + 9.5 * C5 + 8.5 * C6 + 7.5 * C7 + 6.5 * C8 + 5.5 * C9 + 4.5 * C10 + 3.5 * C11 + 2.5 * C12 + 1.5 * C13 + .5 * C14 - .5 * C15 - 1.5 * C16 - 2.5 * C17 - 3.5 * C18 - 4.5 * C19 - 5.5 * C20 - 6.5 * C21 - 7.5 * C22 - 8.5 * C23 - 9.5 * C24 - 10.5 * C25 - 11.5 * C26 - 12.5 * C27 - 13.5 * C28 - 14.5 * C29) / 2247.5)
then Price per share > $1
then Close > Open 2 days in a row
then Close near top candlestick 10% ( I am becoming a believer in Candlesticks)
C > O AND C >= H * .99
I have several variations of the above scan but basically the same. Another variation weeds out stocks with a positive Linear Regression 32 slope
(15.5 * C + 14.5 * C1 + 13.5 * C2 + 12.5 * C3 + 11.5 * C4 + 10.5 * C5 + 9.5 * C6 + 8.5 * C7 + 7.5 * C8 + 6.5 * C9 + 5.5 * C10 + 4.5 * C11 + 3.5 * C12 + 2.5 * C13 + 1.5 * C14 + .5 * C15 - .5 * C16 - 1.5 * C17 - 2.5 * C18 - 3.5 * C19 - 4.5 * C20 - 5.5 * C21 - 6.5 * C22 - 7.5 * C23 - 8.5 * C24 - 9.5 * C25 - 10.5 * C26 - 11.5 * C27 - 12.5 * C28 - 13.5 * C29 - 14.5 * C30 - 15.5 * C31) / 2728
I am a mechanical trader using Tradestation, I like to identify stocks with a high probability of success, put them on Tradestation , let them run while I go do other things. It takes the stress and psychology out of the picture. I like this TD concept because it uses the previous HOD as an entry point and if the stock doesn't continue its trend, the trade won't be entered.
Your mileage may vary.
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Registered User
Joined: 12/11/2004
Posts: 3
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What do you think obout OPTT? It seems to have everything going for it. BOP great, broken through the 10 day and 30day MA
What do you think of OPTT? It seems to have everything going for it. The BOP looks good, it has come back for a third try through the 10 day MA and the 30 MA and to top that all off, it should please the greenies. The company has technology to produce electricity from the ocean waves!
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 Gold Customer
Joined: 11/11/2006
Posts: 359
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A DRAGON!!!
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Registered User
Joined: 2/13/2005
Posts: 368
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I interpret the scans a little differently than others. The best I can tell, you'd like to see a "quiet" period for 10 or so days before the current one where the Bollinger bands get narrow. Then you'd like to see volume pick up noticeably as well as the LR30 under the current bar.
As for my ineterpretation of this stock, I like the current candlestick (very bullish) but there isn't a big jump in volume. I think the 10/13 and 11/06 jumps are a big plus. Other than that, it doesn't look bad... I personally would pass for better looking candidates but put this in the watch list (waiting for a volume spike).
Others also factor in Support and Resistance levels in their assessment, I'm still trying to work that into my selection process.
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Registered User
Joined: 2/19/2008
Posts: 193
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TK , Thank you very much, I will try working with these.
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Registered User
Joined: 2/13/2005
Posts: 368
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Stocks I like for tomorrow (1/5) are EGLE, SWC, PNK, DSX, SCLN, NVTL, CWTR (favorite of the group), BPAX, CATY, and MPEL. perhaps that will help you visualize the concept (as best I understand it).
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