branrx
13 posts
msg #78927
- Ignore branrx |
9/10/2009 1:20:55 AM
This is awesome man. Thanks for the work you put into this!
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decipherlinda
133 posts
msg #78931
- Ignore decipherlinda |
9/10/2009 2:30:22 AM
Another way to use Bollinger Bands: I subscribe to Dan Fitzpatrick's StockMarketMentor and he's a huge fan to using Bollinger Band squeeze plays which is a common strategy. Most if not all of you are probably aware of it. When the bands come together tightly, the stock is probably consolidating. Sooner or later the stock will break down or up although there's an upward bias generally. I've noticed there's a tendency for RSI(2) to take a move up like the right side of a "v" pattern a day or two before a big move starts to move up. The longer the stock consolidates (like in the handle of a "cup" pattern), the stronger the move. SF's home page has a pre-programmed Bollinger Band filter for finding tight BB's.
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richo
74 posts
msg #78935
- Ignore richo |
9/10/2009 7:01:42 AM
Kevin,
I noticed you didn't buy CACC the same day it showed up on the filter along with CA and AMED
Rich
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Kevin_in_GA
4,599 posts
msg #78938
- Ignore Kevin_in_GA
modified |
9/10/2009 7:42:27 AM
During that time I was also looking for a confirmation (close above close 1 day ago) to the BUY filter. I had several slight modifications going, so i did not catch every one that would have been caught by the filter I am using now.
The goal had been to avoid stocks that were is a losing spiral - it ends up that most of the stocks had up days following the close below the lower BB, and so by waiting for confirmation, I was missing out on some potential profits.
Looking at CACC, you could still buy it now - it closed yesterday at 28.34, and if you followed the filter as it is now, you would have bought it at 28.26 (not a huge difference).
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NEW SIG LINE
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DLB7
43 posts
msg #78940
- Ignore DLB7
modified |
9/10/2009 7:59:42 AM
Kevin_in_GA,
Very interesting thread, thank you.
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Kevin_in_GA
4,599 posts
msg #78946
- Ignore Kevin_in_GA |
9/10/2009 10:07:55 AM
Here is a link to preset screens for Bollinger band Squeezes:
Bollinger Band Squeezes
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branrx
13 posts
msg #78972
- Ignore branrx |
9/10/2009 4:42:02 PM
ok nothing showing up yet. just want to make sure I have this set up right. I have the watchlists, everyone showing nothing today, just want to confirm?
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Kevin_in_GA
4,599 posts
msg #78973
- Ignore Kevin_in_GA |
9/10/2009 4:46:43 PM
Confirmed. No IBD stocks closed below the lower BB today. I usually wait until 9 PM when the final numbers are in, but it looks like no stocks to buy or sell today.
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branrx
13 posts
msg #78975
- Ignore branrx |
9/10/2009 4:51:18 PM
markets on a roll, wonder if we may have to wait a bit.. Maybe another watchlist with inverse ETS, that fall below the bolls could fill in on a pullback period. Just a thought, definately not an IBD strategy though.
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Kevin_in_GA
4,599 posts
msg #78977
- Ignore Kevin_in_GA |
9/10/2009 6:04:13 PM
I no longer feel the need to trade every day. That type of behavior is not necessarily the best course of action.
I also want to get a few more of these into the portfolio, but am willing to wait until the filter picks them up.
You can run the scan without the "apply to watchlist" line if you want - only 7 hits today. Of them, only MON would be a candidate for me.
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