WALLSTREETGENIUS
983 posts
msg #66109
- Ignore WALLSTREETGENIUS
modified |
8/12/2008 11:24:24 AM
In my "Wrap-Up" post yesterday (8/11/08) in my newest thread, something accurred to me while talking about the stock (ECA). One of the "6" reasons why I bought ECA was because On Balance Volume (OBV) had completely dried up. Then it hit me! What better time to buy, then when sellers have stopped selling...right? Is it by accident that all the results are currently (8/12/08) from Oil, NGAS, and Mining?...
Look, OBV has ALWAYS been one of the most neglected indicators in all of T/A. But never by me! Now, I don't even look at stocks where OBV continues to bounce off the "0" line. You want the one's that hit it ("0" LINE) the 1sr or 2nd time with the "Triple" set-up (WILL / PO / RSI). As always, I welcome you to look at stocks where their respective markets bottomed, and watch what happens when OBV, coupled with the "Triple", bottoms at the same time. Do this, and you'll see "Dead People" too!
- WALLSTREETGENIUS -
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FuriousThug
256 posts
msg #66111
- Ignore FuriousThug |
8/12/2008 12:32:57 PM
In ECA, I see Falling Three Methods and a window between $69.67 and $68.91. Just an observation as I've been chunking through Nison's original candlestick book. Of course, if you can get out when/if it approaches the bottom of the window, you'll have made some $$. I'm watching this as I'm curious to see how it pans out. Good luck, WSG.
FT
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johnpaulca
12,036 posts
msg #66112
- Ignore johnpaulca |
8/12/2008 12:44:39 PM
Richard:
ECA....I still don't see a confirmed buy on this....am I missing something?
BTW...Billy filtered spewed out: SGY, CEDC, IHS, AEE
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billrider321
70 posts
msg #66113
- Ignore billrider321 |
8/12/2008 1:25:15 PM
new here..have you guys done any study on rsi2 below 3 and volume being more than double of average 90 days
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WALLSTREETGENIUS
983 posts
msg #66114
- Ignore WALLSTREETGENIUS |
8/12/2008 1:29:16 PM
Thug -
The one great thing about "Nison" is....that he rewards his students that intrust him with $3,500, to teach them things that he NEVER reviels in ANY of his publications! I have read all of his books 3 times over, and one thing Steve never talks about at length is "Technicals." After reading his book, it leaves you thinking that he only trades off Candlesticks right?
Wrong! When you spend a week with him, you find out this this man (Nison) has one of the greatest technical minds on the planet! In the past, I've shared little tid-bits of his workshop teachings, and I'm going to show you one more....
When Nison notices an "Open Window," the first thing he looks for is "indicision!" When he see's that, he say's..."CHA-CHING!" (His words, not mine). He go's on to say that there will almost always be a "Battle of egos" for 2-3 days. When you see this, just look for the nearest divergence in the MACD Histogram from where the bottom dropped out to create the "window," and where price currently is. Notice when there's no divergence....that window (gap), will act as resistance almost every single time!
I've never forgotten this, and have capitalized from it COUNTLESS times! So take a look at the 1st bottom on ECA on 8/5 on the MACD-H, and today. ECA is lower in price, but carries a LOWER bottom on the MACD-H and RSI. Watch what happens with stocks like ECA & E....
FOOD 4 THOUGHT...
- WALLSTREETGENIUS -
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WALLSTREETGENIUS
983 posts
msg #66115
- Ignore WALLSTREETGENIUS
modified |
8/12/2008 1:33:21 PM
new here..have you guys done any study on rsi2 below 3 and volume being more than double of average 90 days
____________________________
LOL...somebody please help this guy understand that "RSI(2)" on it's OWN merritt, cant help itself find daylight from a brown paper lunchbag!
RIGGS
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WALLSTREETGENIUS
983 posts
msg #66116
- Ignore WALLSTREETGENIUS
modified |
8/12/2008 1:39:38 PM
JP -
The confirmation of "ECA" took place yesterday, and is showing it again today. Look at your "Triple." Will(2), PO(14) increased, while the "little indicator that cant"...(RSI-2) fell. Also, in the spirit of THIS thread...OBV hit zero ("0") yesterday. Dude, e-mail me....
Speaking of "CEDC "...do you see what happened yesterday when OBV crashed into the "0" line? Up over $5 today at the time of this post!
RIGGS
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FuriousThug
256 posts
msg #66117
- Ignore FuriousThug |
8/12/2008 2:03:21 PM
Also an interesting set of W%R(2) divergences over the past few weeks starting the bottom on July 23rd and making higher lows while price is dropping since.
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billrider321
70 posts
msg #66118
- Ignore billrider321 |
8/12/2008 2:54:27 PM
wsg,
right now i see 4 stocks which are coming out of this list
ceo, ts,bhi,rtp any one u like
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FuriousThug
256 posts
msg #66119
- Ignore FuriousThug
modified |
8/12/2008 3:00:38 PM
I noticed CEO and BHI too and am watching.
And it looks like Steel and Iron flashing a number of stocks too.
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