Registered User
Joined: 11/29/2008
Posts: 6
|
I would like to share a rare find that proves that there are stocks that just do not follow along with the indexes. "Yes I know that the indexes are just an average of the stocks within them".
I created a scan (after filtering for volume, price and institutional support) that would show me on a Monthly chart when the 3month moving average crossed over the 6 month moving average two months ago.
I had a handful of charts but as I was scrolling through them on the weekly view I came across QCOR.
Some consider RSI 14 to be a leading indicator so I plotted it on the chart and it was sporting quit the woody 
Anyway if any care to comment on this one I think that even in these tough markets the bulls can still find fodder.
|
|
Registered User
Joined: 7/1/2008
Posts: 889
|
what type of criteria do you use to filter for institutional support?Thanks
|
|
Registered User
Joined: 9/25/2007
Posts: 1,506
|
I like it ...
Looks like a solid company ... using excess cash to buy back stock ...
A good instituitonal following ... stong buy ratings ...
But ... I just hate pharmaceuticals ...
That's not to say that there aren't some wonderful ones out there ... and that there isn't plenty of money to be made in them ....
It just seems that every time I buy one ... there's an overnight news release ... that four kids in Bangledesh had their peckers fall off as a result of using the company's product ... and the next day it opens at half of it's previous close ...
|
|
Registered User
Joined: 1/28/2005
Posts: 6,049
|
"that four kids in Bangledesh had their peckers fall off as a result of using the company's product ... and the next day it opens at half of it's previous close ..."
--------------------------------------------------------------------------
Then the real kick it the head comes the next day. After you sell.
Its determined its a product only used by females and it
goes back to where it was.
Thanks
diceman
|
|
Registered User
Joined: 1/28/2006
Posts: 291
|
Intrinsic is in the low thirties, if their reporting is to be believed. This issue has already reached a point where I would have taken all profit off the table for the year. Leave the corner of the field for others to glean and all that.
Can you get a measured move from here? Certainly. Get enough late comers to the ball, and 11 is do-able. Odds are not entirely in ones favor though...so by my markers, I'd pass till it rested.
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
Thanks for your analysis Awshucks, Price has already had quit a ride. I wish that the smart money activities were clear during the accumulation phase. There were periods of high volume followed by longer periods of very low volume. The weekly BOP pattern looked telling.
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
Ben2k9, to answer your question I filter institutional support by any stocks over 40% shares owned by intituions.
I use it as a criteria in my easy scan.
As far as QCOR although there still appears to be some upside potential I agree with Awshucks in that most of the big players have already taken their pay day (at least for now),,,
|
|
Registered User
Joined: 12/2/2004
Posts: 1,775
|
Late to join in, but I started buying it in late October through last week, with a add-on planned if 9 is taken out on high volume. Price rules, and QCOR kept showing up on scans for both technical and fundamental strength. I use simple filters, basically stock needs to be in top 10 percent relative price strength, trading above major moving averages but not parabolic, and fundamentally top 10 percent in its respective industry group using IBD's fundamental screens.
|
|
Registered User
Joined: 12/2/2004
Posts: 1,775
|
QUOTE (ben2k9) what type of criteria do you use to filter for institutional support?Thanks
Hi Ben. There are a handful of criteria, some specific and some using a little tea leaf reading. I always first of all check the Telechart one year chart with daily bars and just eyeball the green volume bars with red. If that looks good I then check the up/down volume ration for verification and in QCOR's case it's a very nice 1.5, meaning for past 50 days volume on up days is 50% more than volume on down days. Icing on cake for me with QCOR as far as institutional support is fact that QCOR has had a nice five consecutive quarters with an increase in number of funds owning it. More detail, the percent change in funds owing QCOR over last quarter is a very nice +25%.
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
How are you Fpetry? Thank you for your analysis on this one. I am now in this also, even though as Awshucks has pointed out that the major move is now history; we could still see a few points from this.
Did you ever register on the other forum? If so what is your handle?
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
|
|
Registered User
Joined: 12/2/2004
Posts: 1,775
|
QUOTE (Apsll) How are you Fpetry? Thank you for your analysis on this one. I am now in this also, even though as Awshucks has pointed out that the major move is now history; we could still see a few points from this.
Did you ever register on the other forum? If so what is your handle?
Howdy Apsll. I perused that site a few weeks ago I think and pretty sure it was mainly for posting videos? Didn't register or post and have been mostly absent here too like most market players since the ugly market downturn. Back in now with a small handful of stocks including QCOR so this thread got me to post again.
I think a move into the midteens is reasonable considering the increased green volume since early Sept. I see no evidence that the big players are out; to the contrary everything I see as explained above points to smart money loading up. Failed earlier to point out how well tests of the 50-day since Oct. have held up so superbly. A close below that is my stop level. BTW, note the very nice volume today, highest in several weeks...but it's got to prove itself and close above 9.
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
I would like to hear from Awshucks again if he has the time on this one. Price is in close proximity to the bottom of the Bollinger Bands 20, 20. I am talking very short term hold on this; with a few thousand shares one could put a few cents in their pocket.
Fpetry sounds like you might use OBV am I correct?
|
|
Registered User
Joined: 12/2/2004
Posts: 1,775
|
QUOTE (Apsll) I would like to hear from Awshucks again if he has the time on this one. Price is in close proximity to the bottom of the Bollinger Bands 20, 20. I am talking very short term hold on this; with a few thousand shares one could put a few cents in their pocket.
Fpetry sounds like you might use OBV am I correct?
I don't use OBV or Bollinger. Experimented with about all of the TC indicators early on in my TC journey. All I use now are daily price/volume bars, and the 50 and 200-day sma. Then follow up with up/down volume ratio past 50 days and institutional accumulation/distribution percentage.
|
|
Registered User
Joined: 12/2/2004
Posts: 1,775
|
Heads up: Huge volume coming in for so early in the day...looks like a breakout possibly brewing. But wary always as I've seen one too many failed breakouts in recent months.
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
I am up almost 10% so far. I only brought up the OBV indicator because of the way you make reference to green vs red volume bars. I do not rely heavily on indicators in general ( I am more of a trend trader ).
Volume is leading this break-out so far and I love it.
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
|
|
Registered User
Joined: 7/1/2008
Posts: 889
|
QUOTE (fpetry) QUOTE (ben2k9) what type of criteria do you use to filter for institutional support?Thanks Hi Ben. There are a handful of criteria, some specific and some using a little tea leaf reading. I always first of all check the Telechart one year chart with daily bars and just eyeball the green volume bars with red. If that looks good I then check the up/down volume ration for verification and in QCOR's case it's a very nice 1.5, meaning for past 50 days volume on up days is 50% more than volume on down days. Icing on cake for me with QCOR as far as institutional support is fact that QCOR has had a nice five consecutive quarters with an increase in number of funds owning it. More detail, the percent change in funds owing QCOR over last quarter is a very nice +25%.
Thanks Fpetry and Apsll for the responses. I didn't realize TC had an institutional ownership criteria, which is what I was asking about. I use volume as my biggest indicator of institutional support, as well as IBD Daily Graphs service to look at mutual fund accumulation.
speaking of that...do you guys think these "dark pools" for institutional trading will have any effect on our ability to see institutional trading volume?
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
Ben, this is an interesting subject that I have attempted in previous threads to address. "The ability to see institutional buying". I tried the VSA approach for a while and I came to the conclusion that it is a flawed theory. I also had some personal theories that I created that are suspect as well. Right now other than watching level II quotes and documenting up or down ticks for a given stock that you suspect might be under accumulation then I am not sure that it is possible to monitor the smart money movements in or out of a stock.
Could you give an example of the IBD daily graphs (post a chart of a stock or fund that they say is being accumulated).
I have been studying volume for many years now and the answered to accumulation is not to be found in the raw data. It must be dissected; which I at this time do not have the ability to do.
|
|
Registered User
Joined: 7/1/2008
Posts: 889
|
I'm not sure how to post an image of the daily graphs object here, but among a lot of other data, the graphs provide the number of mutual funds that own the stock on the quarterly basis. So you can see an increasing trend of mutual funds owning a stock or vice versa. It also provides an accumulation/distribution rating and an institutional sponsorship rating. The Daily Graphs equity research package is as essential to my trading as Telechart. You can look into it a www.investors.com. I think they offer a free week or two to kick the tires.On another note...how the heck do I create spaces and paragraphs on my posts here??
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
I used to subscribe to IBD and found it to be of little use. (Yes I knew the proper way to use "CANSLIM" the party is usually over by the time you find a good candidate).
You have to ask yourself; how successful has using IBD been for me? How long have I been using it? How much profits has it made for me?
Just simply type enter on your keypad to create a space between paragraphs.
Judging the movements of smart money has been an obsession of mine for over a Decade now. I have never talked with anyone who is truthful in their claims that they know the secret, and those that are selling the secret are just full of ####.
|
|
Registered User
Joined: 12/2/2004
Posts: 1,775
|
QUOTE (ben2k9) Thanks Fpetry and Apsll for the responses. I didn't realize TC had an institutional ownership criteria, which is what I was asking about. I use volume as my biggest indicator of institutional support, as well as IBD Daily Graphs service to look at mutual fund accumulation.
speaking of that...do you guys think these "dark pools" for institutional trading will have any effect on our ability to see institutional trading volume?
Ben, I too use IBD to gauge institutional buying/selling/sponship, along with simple volume bars via TC charts. I think IBD and Worden compliment each other very well. IBD's accumulation/distribution rating is proprietary and rates specific institutional activity levels. In otherwords, one may see a chart with nice high volume green bars but it could be mostly devoid of fund activity. Conversely, you could look at a chart with with flat sideways action and unimpressive volume but in actuality there could be stealthy accumulation by the big boys.
Dark Pools: Per most of the recent articles I've read, and in particular IBD's superb recent article, dark pools currently account for approx. 8% of volume on the NYSE and do not at this time adversely affect the average little guy, and most importantly do not adversely skew the bid/ask you see on individual stocks. The consensus seems to be that if that percentage of dark pool volume gets in the 20% range, then the SEC may have to take some action whatever that may be. The great thing about the IBD Acc/Dist rating is that it measures institutional quality activity regardless of volume and where it comes from. In most cases though (anecdotally from me fwiw) whenever I spot a nice high volume surge over several days via a TC chart, and then cross check it with IBD, IBD usually concurs that institutions are heavily involved. But that may have something to do with the fact that criteria I use with both TC and IBD scans rules out most low liquidity and single digit stocks that many funds/institutions avoid in the first place.
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
Well today might be the top of this swing high here but I want to stay in this one so I am going to use the 30 day ema for a stop and ride this swing out. (small chance of beating todays high on friday) but I doubt it.
Fpetry you all in or did you cut loose some shares?
|
|
Registered User
Joined: 7/1/2008
Posts: 889
|
QUOTE (Apsll)
I used to subscribe to IBD and found it to be of little use. (Yes I knew the proper way to use "CANSLIM" the party is usually over by the time you find a good candidate).
You have to ask yourself; how successful has using IBD been for me? How long have I been using it? How much profits has it made for me?
Just simply type enter on your keypad to create a space between paragraphs.
Judging the movements of smart money has been an obsession of mine for over a Decade now. I have never talked with anyone who is truthful in their claims that they know the secret, and those that are selling the secret are just full of ####.
ahhh...the problem was my browser (google chrome) apparently doesn't jibe well with this site.
My posts will henceforth feature paragraphs!
Anyhow, are you talking about the newspaper IBD or their institutional research products? I used the latter, and wouldn't want to be without it. It puts all relevent fundamental data at my fingertips as well as quantitative screeners and industry group breakdowns. There's probably other ways one could dig up all that information elsewhere, but it all comes down to time.
I use IBDs services to scan the universe for the best fundamental companies, and then I use TC to for various technical scans. When I get overlap, I get the equivalent of an infra-red scanner for the entire equity universe and find the hottest stocks to deal with.
On this short side of the trade, I'm almost purely technical.
|
|
Registered User
Joined: 1/28/2006
Posts: 291
|
I feel like the character of Willy Wonka in the 'full inflation' scene.
"I wouldn't do that."
"Stop...don't"
By my charts, the ceiling is 9.44 unless there is a major event that initiates a new (positive) pattern.
|
|
Registered User
Joined: 4/18/2005
Posts: 4,090
|
Nice thread.
I"ve been debating trying out the IBD services also. I've heard from several people that they didn't help them that much.
But I also know that Dan Zanger uses the canslim as the backbone of what he does. By the way ... Yea.. the higher a stock goes the more select a club it get into .. but I"m learnign aagain and again that sitting out a rally because it LOOKS extended or APPEARS to have run it's course is just silly. That is all psychological. Who gave me or anyone the right to say where a stock will stop?
I've had this on the watchlist for some time.. but for now i'm only working with a particular entry that wasn't given and I passes the last one for something else. My bigest hesitation is the fact that it is nearing resistance in a pretty brutal Bear market. I'm sick of fighting the flow.
That siad if we ever do get a bottom in during my life time I'll be making momentum trend breakouts a core strategy of mine.
|
|
Registered User
Joined: 7/1/2008
Posts: 889
|
QUOTE (scottnlena) Nice thread.
I"ve been debating trying out the IBD services also. I've heard from several people that they didn't help them that much.
But I also know that Dan Zanger uses the canslim as the backbone of what he does. By the way ... Yea.. the higher a stock goes the more select a club it get into .. but I"m learnign aagain and again that sitting out a rally because it LOOKS extended or APPEARS to have run it's course is just silly. That is all psychological. Who gave me or anyone the right to say where a stock will stop?
I would say buying something that's "extended" and buying something in a rally is an important distinction. If you don't buy right at the breakout, then you should probably wait until you get a pullback to the 50dma to enter with lower risk. In a strong uptrend, the stock will hold the 50dma. This way you can set a reasonable stop loss under the 50dma and know your downside.
It's only when I break the rules that I get myself into trouble. Staying disciplined is the hardest part to learn. Richard Dennis said he could publish his trading rules on the front page of the newspaper and people still couldn't make money with it because they lack the discipline. He's so right.
|
|
Registered User
Joined: 1/28/2006
Posts: 291
|
Quite correct Ben. However, when P&F's tell me something, I listen until they say something different. I do like a good continuation pattern and this issue turned up hard at the right time of the year...it's just beyond my rules right now. Something up 30x it's summer prices last year qualifies as 'extended' in my book. That's on a purely technical basis.
Folks are flocking to valuation here, not technicals, and a new pattern can always start. All time highs are always considered a "no brainer" to buy - until they prove themselves or fail. So I would wait for a few x's over the old all time highs to happen on convincing volume that is - on balance - bought not sold on the weekly's.
Also, you might consider setting stops based on ATR rather than ma's. The 50/50 trade or continuation works, as does the failure of said.
|
|
Registered User
Joined: 12/2/2004
Posts: 1,775
|
I couldn't live without my IBD research tools, along with Telechart too of course. You don't have to adhere to the CANSLIM method to do well in the market, always more than one way to skin a cat. Personally I've been using many elements of the IBD method with my own minor tweaks, i.e. I will buy a single digit stock on occasion such as QCOR obviously. I have found that my success in the market is tremendously improved since I started using the IBD method a couple years ago. If anyone will read William O'Neil's bible on the method, "How to Make Money in Stocks," and can come up with one iota of evidence that his research is incorrect, then I'm all ears. In a nutshell his research studies indepth the technical and fundamental characteristics of the most successful stocks for each year going on over fifty years now and the same characteristics continue to lead the way over and over and over. Then he shows you how to screen and find those stocks. No one yet can counter his research. My guess is that those who fail while trying out his method simply do so because they don't have the discipline to follow the rules which are very specific. For example, he has made an extremely strong argument (with proof via charts) that every year for past fifty years that the cup with handle pattern is THE most powerful and reliable pattern. But the problem is that it's not easy to spot a correct pattern because there are at least a dozen specific criteria necessary.
|
|
Registered User
Joined: 7/1/2008
Posts: 889
|
Fpetry, the biggest proof is that William O'Neil & Co. is profitable because of their proprietary trading operations and in house money managers. They lose money on IBD.
|
|
Registered User
Joined: 12/2/2004
Posts: 1,775
|
QUOTE (Apsll) Fpetry you all in or did you cut loose some shares?
Still in and as I stated above I added a final piece on a volume move over 9. My stated original stop loss of a close below the 50-day has been modified...half now at 8.15, other half as before.
|
|
Registered User
Joined: 7/1/2008
Posts: 889
|
QUOTE (awshucks)
Also, you might consider setting stops based on ATR rather than ma's. The 50/50 trade or continuation works, as does the failure of said.
I think using ATR could add some value to my approach. I've just added some PCFs to calculatte different ATR periods. What have you found to be the best way to use ATR in deciding a stop?
|
|
Registered User
Joined: 12/2/2004
Posts: 1,775
|
QUOTE (ben2k9) Fpetry, the biggest proof is that William O'Neil & Co. is profitable because of their proprietary trading operations and in house money managers. They lose money on IBD.
Good point ben.
|
|
Registered User
Joined: 2/28/2005
Posts: 825
|
ben2k9 would you mind sharing your ATR PCF's plz.. I'm not too up on ATR so will study as I utilize them to gain the full effect of your learning.
tia
art
|
|
Registered User
Joined: 7/1/2008
Posts: 889
|
I got all those from searching this forum for ATR.
Here's a 14 day simple moving average ATR:
(AVGH14 - AVGL14) / 2 + (ABS(H - C1) + ABS(C1 - L) + ABS(H1 - C2) + ABS(C2 - L1) + ABS(H2 - C3) + ABS(C3 - L2) + ABS(H3 - C4) + ABS(C4 - L3) + ABS(H4 - C5) + ABS(C5 - L4) + ABS(H5 - C6) + ABS(C6 - L5) + ABS(H6 - C7) + ABS(C7 - L6) + ABS(H7 - C8) + ABS(C8 - L7) + ABS(H8 - C9) + ABS(C9 - L8) + ABS(H9 - C10) + ABS(C10 - L9) + ABS(H10 - C11) + ABS(C11 - L10) + ABS(H11 - C12) + ABS(C12 - L11) + ABS(H12 - C13) + ABS(C13 - L12) + ABS(H13 - C14) + ABS(C14 - L13)) / 28
Here's a 7 day ATR:
XAVGH13 - XAVGL13 + .142996048056393 * ((H < C1) * (H - C1) + (C1 < L) * (C1 - L) + 6 / 7 * ((H1 < C2) * (H1 - C2) + (C2 < L1) * (C2 - L1) + 6 / 7 * ((H2 < C3) * (H2 - C3) + (C3 < L2) * (C3 - L2) + 6 / 7 * ((H3 < C4) * (H3 - C4) + (C4 < L3) * (C4 - L3) + 6 / 7 * ((H4 < C5) * (H4 - C5) + (C5 < L4) * (C5 - L4) + 6 / 7 * ((H5 < C6) * (H5 - C6) + (C6 < L5) * (C6 - L5) + 6 / 7 * ((H6 < C7) * (H6 - C7) + (C7 < L6) * (C7 - L6) + 6 / 7 * ((H7 < C8) * (H7 - C8) + (C8 < L7) * (C8 - L7) + 6 / 7 * ((H8 < C9) * (H8 - C9) + (C9 < L8) * (C9 - L8) + 6 / 7 * ((H9 < C10) * (H9 - C10) + (C10 < L9) * (C10 - L9) + 6 / 7 * ((H10 < C11) * (H10 - C11) + (C11 < L10) * (C11 - L10) + 6 / 7 * ((H11 < C12) * (H11 - C12) + (C12 < L11) * (C12 - L11) + 6 / 7 * ((H12 < C13) * (H12 - C13) + (C13 < L12) * (C13 - L12) + 6 / 7 * ((H13 < C14) * (H13 - C14) + (C14 < L13) * (C14 - L13) + 6 / 7 * ((H14 < C15) * (H14 - C15) + (C15 < L14) * (C15 - L14) + 6 / 7 * ((H15 < C16) * (H15 - C16) + (C16 < L15) * (C16 - L15) + 6 / 7 * ((H16 < C17) * (H16 - C17) + (C17 < L16) * (C17 - L16) + 6 / 7 * ((H17 < C18) * (H17 - C18) + (C18 < L17) * (C18 - L17) + 6 / 7 * ((H18 < C19) * (H18 - C19) + (C19 < L18) * (C19 - L18) + 6 / 7 * ((H19 < C20) * (H19 - C20) + (C20 < L19) * (C20 - L19) + 6 / 7 * ((H20 < C21) * (H20 - C21) + (C21 < L20) * (C21 - L20) + 6 / 7 * ((H21 < C22) * (H21 - C22) + (C22 < L21) * (C22 - L21) + 6 / 7 * ((H22 < C23) * (H22 - C23) + (C23 < L22) * (C23 - L22) + 6 / 7 * ((H23 < C24) * (H23 - C24) + (C24 < L23) * (C24 - L23) + 6 / 7 * ((H24 < C25) * (H24 - C25) + (C25 < L24) * (C25 - L24) + 6 / 7 * ((H25 < C26) * (H25 - C26) + (C26 < L25) * (C26 - L25) + 6 / 7 * ((H26 < C27) * (H26 - C27) + (C27 < L26) * (C27 - L26) + 6 / 7 * ((H27 < C28) * (H27 - C28) + (C28 < L27) * (C28 - L27) + 6 / 7 * ((H28 < C29) * (H28 - C29) + (C29 < L28) * (C29 - L28) + 6 / 7 * ((H29 < C30) * (H29 - C30) + (C30 < L29) * (C30 - L29) + 6 / 7 * ((H30 < C31) * (H30 - C31) + (C31 < L30) * (C31 - L30) + 6 / 7 * ((H31 < C32) * (H31 - C32) + (C32 < L31) * (C32 - L31) + 6 / 7 * ((H32 < C33) * (H32 - C33) + (C33 < L32) * (C33 - L32) + 6 / 7 * ((H33 < C34) * (H33 - C34) + (C34 < L33) * (C34 - L33) + 6 / 7 * ((H34 < C35) * (H34 - C35) + (C35 < L34) * (C35 - L34) + 6 / 7 * ((H35 < C36) * (H35 - C36) + (C36 < L35) * (C36 - L35) + 6 / 7 * ((H36 < C37) * (H36 - C37) + (C37 < L36) * (C37 - L36) + 6 / 7 * ((H37 < C38) * (H37 - C38) + (C38 < L37) * (C38 - L37) + 6 / 7 * ((H38 < C39) * (H38 - C39) + (C39 < L38) * (C39 - L38) + 6 / 7 * ((H39 < C40) * (H39 - C40) + (C40 < L39) * (C40 - L39) + 6 / 7 * ((H40 < C41) * (H40 - C41) + (C41 < L40) * (C41 - L40) + 6 / 7 * ((H41 < C42) * (H41 - C42) + (C42 < L41) * (C42 - L41) + 6 / 7 * ((H42 < C43) * (H42 - C43) + (C43 < L42) * (C43 - L42) + 6 / 7 * ((H43 < C44) * (H43 - C44) + (C44 < L43) * (C44 - L43) + 6 / 7 * ((H44 < C45) * (H44 - C45) + (C45 < L44) * (C45 - L44))))))))))))))))))))))))))))))))))))))))))))))
3 day ATR
( (L < C1) * L + (L >= C1) * C1 - (H > C1) * H - (H <= C1) * C1 + (L1 < C2) * L1 + (L1 >= C2) * C2 - (H1 > C2) * H1 - (H1 <= C2) * C2 + (L2 < C3) * L2 + (L2 >= C3) * C3 - (H2 > C3) * H2 - (H2 <= C3) * C3 ) / 3
2 day ATR
(AVGH10 - AVGL10 + (ABS(H - C1) + ABS(L - C1) + ABS(H1 - C2) + ABS(L1 - C2) + ABS(H2 - C3) + ABS(L2 - C3) + ABS(H3 - C4) + ABS(L3 - C4) + ABS(H4 - C5) + ABS(L4 - C5) + ABS(H5 - C6) + ABS(L5 - C6) + ABS(H6 - C7) + ABS(L6 - C7) + ABS(H7 - C8) + ABS(L7 - C8) + ABS(H8 - C9) + ABS(L8 - C9) + ABS(H9 - C10) + ABS(L9 - C10) ) / 10 ) / 2
1 day ATR
(SGN(SGN(C1 - H) + 1) * (C1 - L)) + (SGN(SGN(L - C1) + 1) * (H - C1)) + ((SGN(SGN(H - C1) - 1) + 1) * (SGN(SGN(C1 - L) - 1) + 1) * (H - L))
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
Well I was right about the swing high and I am still using the 30 day ema for my stop. Lets see if this will continue with the swing pattern.
Fpetry or Ben, What was the IBD concensis on this one?
|
|
Registered User
Joined: 12/2/2004
Posts: 1,775
|
QUOTE (Apsll) Fpetry or Ben, What was the IBD concensis on this one?
IBD has improved QCOR's ratings since my post few days back listing some of IBD's ratings for it at the time. A quick thumbnail: Institutional buying now at A+, the highest IBD rates. Up/Down volume ratio now 1.7 vs. 1.5 earlier (easy to eyeball that on the chart with nice high vol. green bars). In its industry group QCOR has the number one overall rating (which combines chart technicals with fundamentals). As stated earlier, consecutive quarters of mutual fund increased sponsorship
That's the good. Bad: Earnings rating is very average but I guess slack cut in that dept. for drug companies, someone must like the future (earnings rating includes past performance from several quarters ago so that can definitely lower the rating even if current and forecast earnings are good ). Fact that it's a single digit drug stock can make for some wild gut wrenching swings at drop of hat. Decent short interest last report but not extreme imo.
Enough of my babbling, getting too wordy, price rules as always, simply follow the price and act accordingly. The stock has made it's move over resistance and so now it's do or die, either truck on up in the trend or fail fast and get it over with:), I've moved my first stop up again, now to 8.40, second stop for remainder the same.
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
My entry was at $8.60 and I only have one lot invested so far. I am swing trading this one so I might pick up a second lot soon. all depending on the price action.
Thanks to you and Ben for bringing IBD into the mix, it helps to know that They like this one as well. But on the down side I always found them to be late to the party so maybe Awshucks is correct and this is the top.
We will see..
|
|
Registered User
Joined: 3/21/2006
Posts: 4,308
|
Forgot to mention that I am not going to use the 30 day ema for a stop, rather the 30 week ema
|
|
Registered User
Joined: 2/28/2005
Posts: 825
|
Is there an available PCF which would search for a tight pattern such as this?
|
|
|
Guest-1 |