jpistell
123 posts
msg #34925
- Ignore jpistell |
1/18/2005 12:24:14 PM
Open gap fills are like money in the bank.
These are gap ups that are driven on good news that fade after the day traders have moved on. Time and time again, the low comes back into the gap up, where the "good news trend" resumes.
Most all fill in 30 days or less.
I've tried unsucessfully to write a filter to capture these. I can't code this but if someone can I'd be amazed and thankfull!
Many Thnx,
Trader Joe
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jpistell
123 posts
msg #34928
- Ignore jpistell |
1/18/2005 4:50:51 PM
re: Gaps that may fill...
Watch TVGR (a penny stock) drop right back into its gap. I'll nibble a bit here with a limit order at $.07
Trader Joe
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jpistell
123 posts
msg #34999
- Ignore jpistell |
1/29/2005 8:39:37 AM
TVGR fills gap and rallies > 30% in 3 days.
sick.
I've got to get to work on that gap fill filter.
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wallman
299 posts
msg #35002
- Ignore wallman |
1/29/2005 10:21:55 PM
when you do you might want to use some sort of volume criteria because TVGR at .087 and 128,431 shrs for Fridays trading works out to $11k traded for the entire day,i've watched this stock for a few days and the bid/ask can be unreal spread,often 15-30%+ spreads,looks good on paper trading but in real life these kind are virtually untradeable, 1/21 it traded 0 shares,not a nice place to get stuck
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jpistell
123 posts
msg #35010
- Ignore jpistell |
1/30/2005 7:27:57 PM
Wallman,
I didnt bite on TVGR. Its the gap-fill concept. I see it happening all the time. The MM'ers are net short in a news driven gap-up. They're going to continue to sell the stock down for days until they can square up. Most all of them fill in <30 days.
I'll post them when I stumble across them.
Trader Joe
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jpistell
123 posts
msg #35013
- Ignore jpistell |
1/30/2005 8:43:37 PM
Now you've went and done it wallman... ;-)
This is a more "healthy" open gap (low > close one day ago).
All we need now it a trigger of some sort.
G'Luck,
Trader Joe
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wallman
299 posts
msg #35015
- Ignore wallman |
1/30/2005 9:34:15 PM
Joe,you are right,the gapup concept is a beauty,i'll follow along tracking your filter,thank you
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jpistell
123 posts
msg #35018
- Ignore jpistell |
1/31/2005 6:12:37 AM
TRIGGER IDEA: X marks the spot
Divergence between price and indicator.
Qstick explained:
http://www.stockfetcher.com/stockdb/fetcher?p=feedback&topic=Screening%20Indicators&subtopic=N-Z&question=QStick
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rsarno
103 posts
msg #35026
- Ignore rsarno |
1/31/2005 9:51:52 PM
Im not so good backtesting these things, how has it worked out?
I love the concept, wish i knew enough to assist in writing it.
good luck and please continue to refine.
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yepher
359 posts
msg #35029
- Ignore yepher |
1/31/2005 10:52:28 PM
Another gap filter:
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