Monday, July 26, 2010

Outside the bands

I have decided to double my workload everynight and post Breakout results from my scans...These are based on 2 closes in a row outside the acceleration bands, and 2 closes in a row with %R in overbought/oversold territory...when I feel like it I will filter out those that are not yet confirmed on %R...confirmation is closing above a setup high...the setup is the bar where the thing goes above or below overbought/oversold territory.

I don't like trading breakouts, more often than not they come back to retest on %R and I would rather get in on them there than take the pain getting to a retest. One thing you can do is put half a position on a breakout, then put the other half on when it retests.

So today:
Breakout Shorts:
QLGC, RST, BEC (not all of these are %R confirmed yet)

Breakout Longs (a shitload):
IYZ, EPP, TLVT, LAMR, IYM, TRW, GTLS, DBV, XLI, MS, EWA, OMC, PH, MTL, SIAL, ALGN, PENN, KMT, DSW, GPI, LUX, TNB, CR, MUR, SYY, LEA, SXT, NXTM, WRC, OCR, EWY, PLY, DGIT, ADSK...again double check the %R on these...I don't think all of them have confirmed yet but they are accel band breakouts..and I am lazy to check all of these charts.

No retests outside the bands today.

So here are the Inside the band retests:

Longs:
BOH, AMT, DBA, CBD, VIT

Shorts:
IBKC, LHCG, MANT, SIRO, GPRO, ADS, WMS, CFN, BKE, CHSI, PXD, BBT, LPNT, KCI, DVA

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