What indicators are you using to anticipate the pullback? Granted I know DWSN which is up 101.76% YTD can't sustain this type of growth forever, but what are the individual factors you are spotting?
Do you have PCF that looks for stocks that have traded above their MAs for a period of time (ex.40 days)? I can tell you scan for high Relative Strength 1 Year (vs. S&P500) with a recent breakout..
Carmichael, I don't use indicators, aside from noting if stochastics are overbought. I just want to see a pullback to previous support. If the stock is breaking out to new highs, I'll wait for a pullback to the breakout point.
Good job Chris. I occasionally do moving average scans, but focus more on stocks that have made it to my watchlist. From there, I just note where the ma is as I flip through my watchlist.
What indicators are you using to anticipate the pullback? Granted I know DWSN which is up 101.76% YTD can't sustain this type of growth forever, but what are the individual factors you are spotting?
ReplyDeleteDo you have PCF that looks for stocks that have traded above their MAs for a period of time (ex.40 days)? I can tell you scan for high Relative Strength 1 Year (vs. S&P500) with a recent breakout..
ReplyDeleteCarmichael,
ReplyDeleteI don't use indicators, aside from noting if stochastics are overbought. I just want to see a pullback to previous support. If the stock is breaking out to new highs, I'll wait for a pullback to the breakout point.
Good job Chris. I occasionally do moving average scans, but focus more on stocks that have made it to my watchlist. From there, I just note where the ma is as I flip through my watchlist.
ReplyDeleteA quick note that I exited GRMN at $107.04 and went short RS at $53.16.
ReplyDeleteI'm guessing your reasoning for RS was all technical. It's a volatile day,where did you place your stops?
ReplyDeleteRS stop is above the 50 day moving average. I'll likely hold until my stop or target is hit.
ReplyDelete