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Registered User
Joined: 7/1/2008
Posts: 889
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this Russell rebalancing has flooded my scans with breakouts left and right...
my scans that usually bring back a few dozen are bringing back a few hundred.
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 Gold Customer
Joined: 12/19/2004
Posts: 108
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I agree. I have tried to set up a scan similar based on your suggestion of the Dragon Incubator and my scan has returned over hundreds too. Many look promising however in my scan, I am seeing resistance on many of them. Perhaps your scan catches them right at the resistant level before the consolidation process begins?(Or I am not having the settings correct). I will have to do some tweaking possibly adding a few more criteria to see how it works for my trading strategy. If I come up with anything, I will definitely share my findings with you and the forum.Thanks for your contributions.
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Registered User
Joined: 12/2/2004
Posts: 1,775
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QUOTE (ben2k9) this Russell rebalancing has flooded my scans with breakouts left and right...
my scans that usually bring back a few dozen are bringing back a few hundred.
The huge volume spikes on a lot of stocks Friday per the Russell rebalancing screwed up a lot of my scan returns. Skewed the average daily volume averages on quite a few of the thinner ones, not to mention making it harder to eyeball the charts to get a feel for volume changes over time. I usually don't like to truncate excessive volume bars because I want to see what news caused an unusually high volume spike, but I may have to do so now.
Also, these massive volume spikes....what do they mean as far as analysis? It's like forced buying by some funds I guess. I don't know which ones were meaningful volume signals as far as an edge for future price appreciation. There were some stocks I've been watching, hoping for a volume and price spike as a possible buy signal, but now I'm confused on some, lol.
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Registered User
Joined: 7/1/2008
Posts: 889
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Also, note that the explosion came in the last 15 minutes of trading on Friday.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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Looks like the 4 of July came early for the Russell.
Thanks
diceman
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