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Thread: Market Watch for week of 6/22/09

  1. #341
    billhart22 is offline
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    Quote Originally Posted by Dr. Dave View Post
    Cool, I'll check it out. Bummer, since I wasn't online regularly, I didn't realize my stockcharts.com sub ran out - they are usually kind of slow, I just resuscribed, and hope it kicks in by mon morn.
    I was just going to say that the float with BCLE is small. 30 Million shares, so any real effort will push it. After they finish their audit, which is taking about 60 days, then they have some things planned. So with all it has going for it, it is a long for me.

    MGLG, you have the scoop on that one.

    Congratulations!

  2. #342
    billhart22 is offline
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    Hey Dave

    I had one more question. You subscribe to stockcharts.com. I have almost done that so many times. What level would you suggest?

  3. #343
    Dr. Dave is offline
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    stockcharts.com

    Weird, since I set up my computer to log in automatically, I can't find how to undo it - since I renewed, I can't get to the page to show me the options. I'll have to log into another computer later.

    But - I think to start out Extra! is the way to go - I think thats the one that lets you see the most capabilities - I think there is a basic too right?

    I slowly moved up the chain from Extra to extra RT - so I could use indicators real time on the 15 and 60 min charts - but you can do that now for free at other sites -
    http://www.freestockcharts.com/
    and of course with some brokers -

    A lot of TA guys like thinkorswim for a broker, or interactive brokers - but I'm still trading elsewhere.

    But, I actually have 100 lists of stocks - not that I use them all - and haven't bothered to try to work freestockcharts.com all the way to import what I like.

    I then went all the way to get the market message - as my main purpose is to trade the regular growth stocks, and after coming almost full circle - ie. great beginners start - over confident - losing money - realizing that the good TA is following the market and support/resistance, trendlines, fibs, round numbers (seeing the targets) - notebooks, stops and money management are really key, I wanted to see how Murphy calls the market, along with some others. I think that Murphy is likely at a level that when he says something, like IBD, and the likes, that it has a little self fulfilling prophecy for the markets at times. I also look to see what Bulkowski and Hewison are saying. Then, if I have the time, see how CNBC and the likes are calling it, which to see if they are running opposite the other guys.

    I need to give the freestockcharts.com another shot... but I got too busy learning more TA stuff, so I have been renewing stockcharts.com on a quarterly basis.

    That or give thinkorswim a shot, but i dont trade frequently enough I think to make the commissions worth it, if I remember correctly.

    Ramble -

    Maybe I should answer the question - try giving the one that gives you the ability to use all the indicators and all the time frames a shot - and has the list amount you like, that is the cheapest for a month. See if it makes you a more confident or more skillful trader, then move from there.

    Since my objectives are different than yours usually (major growth stocks) - even if I did switch off from using their charts, I'd likely continue with murphy's message for a while - I've been trying to keep a weekly wrap up, where I kind of recap what all the guys I follow have to say - and see who calls it the best.
    Positions: Change so often, it's no longer useful to update this...

  4. #344
    billhart22 is offline
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    I have some pretty ass-kicking software... Scottrade Elite. I can put all of the indicators on there that I want, but they do have subtle differences. Some of the charts show the wm% from -0 to -100, so you have to mentally adjust where you are really at between -20 and -80. There are just some little idiosyncrasies like that.

    I see from what you have said that you use the 60 minute wm%. I don't think that I have the capability of doing that. I use 7 for day trades, 14 for 3,4, or 5 days and 28 for a long. I honestly use it more as a daily indicator, but with my capability for settings it looks like a lie detector test throughout the day and is useless with penny stocks. Maybe I am missing the point somewhere on how to set it, or I am missing what you are saying, which is always a possibility.

  5. #345
    Dr. Dave is offline
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    Quote Originally Posted by billhart22 View Post
    I have some pretty ass-kicking software... Scottrade Elite. I can put all of the indicators on there that I want, but they do have subtle differences. Some of the charts show the wm% from -0 to -100, so you have to mentally adjust where you are really at between -20 and -80. There are just some little idiosyncrasies like that.

    I see from what you have said that you use the 60 minute wm%. I don't think that I have the capability of doing that. I use 7 for day trades, 14 for 3,4, or 5 days and 28 for a long. I honestly use it more as a daily indicator, but with my capability for settings it looks like a lie detector test throughout the day and is useless with penny stocks. Maybe I am missing the point somewhere on how to set it, or I am missing what you are saying, which is always a possibility.
    It's a Wm%R using 60 min bars or candles. The setting I use is 20 bars I believe. So depending on the time frame, each indicators works on that # of bars. While a 10 sma on the weekly is roughly the same as the 50 sma on the daily, they encompass different data, they aren't really the same - ie. 10 sma weekly for AAPL today is 132.46 and 50 sma daily is 131.69.

    [This ramble was another thought before I realized what the problem (I think) was] In the Wm%R I'm just looking to see if the trend is changing. Looking to see if it crosses from oversold to crossing the middle then to overbought. Other times, I check for strong peaks in the oversold/overbought areas to match up with a reversal candle - this is when you have a strong up or down move and are looking for a sharp reversal. Here an RSI 2 and a CCI 5 helps confirm things.

    Also these can help to see turning points during consolidation or a trend.

    Look at AAPL from about Sept 2008 to now - using Wm%R 20, CCI 5 and RSI 2. During the up and down bottoming between oct 2008 and mar 2009 - you can see when they cross together at the peaks, you have the peaks to have gone long or short with a larger position - then after march - Wm%R doesn't crossover - the trend is on... Now, you could meddle a little with the cci and rsi - like look at 3 each for tighter or less whipsawed signals during consolidation, but it isn't a bad combo.

    One thing though, that I learned reading a TA magazine, is that some software platforms only go out so many bars past your window when doing some calculations - stockcharts will go out 500 bars outside what you see on your screen to make things accurate - of course, if you are looking at something with a specific time frame, like 20, then its going to be 20.

    [Here what I wrote pertains to using 60 min Wm% R of 3 - but used daily as an example] Anyway, if you are shortening the Wm%R on a daily chart to mimic a shorter time frame, it's likely looking at say 3 bars - which would calculate differently than what you would have when a calculation takes into account (depending on indicator) 3 days worth of data on another time frame - ie. Wm%R of 21 on 60 mins to pretend you are using what you would see on a daily using 3... using the day's open, high, low, close volume, as opposed to 21 data points each of open, high, low, close, volume of 60 min data - since its 3 x 7 hours of trading. It's 7 hours right? haha.

    Sounds like you are using it right, but yeah, with the pennies, and especially something traded as thinly as say BCLE - it may not be worth much.

    After spending lord knows how long studying indicators - then rereading all the text I have, then watching and listening to some of the pro's I learned its that support lines, trendlines and such I learned earlier that is better to guide you as the price moves from one to the next, and that indicators can be considered secondary in a way - or - man this is hard to explain - divergence and stochastics/oscillators can tell you a change is at hand - and moving average crossovers tell you the game is on - but its the lines that hold things or provide pauses or a breaking point between the transitions - and the more volume at each, or longer the time in between - the more important they generally are.

    But with pennies, its a different game - especially thinly traded stuff - you get the MM's moving things, then whether John in Des Moines decides he's in - whether there has been a decent pump put out. If it wasn't so risky and (impossible for me), I'd much rather short pennies, then go long.

    Geez, back on track Dave -

    Ok - I think you have things set correctly - but because the datasets going into the calc of each indicator are different when each time frame is displayed - in essence:

    For a day trade, you would be using (say Wm%R) of 12 to 20 on the 1-15 min and then on 60 min charts to spot a trend

    The same settings would be used on the daily and 60 min charts for a swing trade

    The same settings again would be used on the daily and weekly for an intermediate trade, then weekly/monthly for a real long.

    As opposed to using one time frame - say 60 min/daily, then shortening the number for a quick trade - which is why its like the edge of a saw, then out there in longer time frames for a longer position.

    Man - the beginning I was assumed your question was a little different, and now I'm too tired to fix all the text, but i think I got it clear towards the end. If not - let me know, and I'll rewrite it, and give you some inputs to look on some charts.
    Last edited by Dr. Dave; 06-28-2009 at 03:34 AM.
    Positions: Change so often, it's no longer useful to update this...

  6. #346
    Dr. Dave is offline
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    I have to use a mac for work, so I use them at home - scottrader doesn't run on them... so I can't use it - even though I have an account with the... with that, not sure if you need to subscribe to stockcharts. It's always nice to try something for a month or so though, whenever you score a decent win... you can learn a lot after a month/quarter on different pay sites - see if it was worth it.

    I'm pretty ADD, so I'm always digging things up - i'd have a fortune if I would have just stuck with AAPL and setting up a routine, but the thought of it bores me to tears. Even just using a 4/16 EMA cross and going long/short works on that one pretty much on the long haul - whipsaws, sure, but backtest it if you're bored.
    Positions: Change so often, it's no longer useful to update this...

  7. #347
    bassmaster is offline
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    lately, there has been alot of public exposure of cap and trade talks. with people on both sides of the debate ready to shoot each other, wouldnt the right play be investing in some pennies that will be able to profit off the credits? i think BEHL fits that criteria. i may adjust my reentry point. carbon credits is expected to be the biggest commodities instrument traded in the next few years. LETS FIND SOME MORE PENNIES THAT CAN HAVE SOME POTENTIAL IN THAT MARKET!!!! i think it will make insta-millionaires of alot of smart people. JMHO. DYODD.. ty and gl
    Last edited by bassmaster; 06-28-2009 at 12:50 PM.

  8. #348
    trippingthespeculatingpos is offline
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    i sold 20,000 on behl just to free a little cash, and man now i feel like i just sold 20,000 dollars for a couple hundred haha, i dunno behl is looking really promising. specially when u look at other companies working on what they are and what they are priced at. none of them have gone commercial yet either. tons of potential

  9. #349
    billhart22 is offline
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    There is a lot of good stuff in the last few days here

    There is a lot of really good stuff in the last few days here. I will be starting a thread for Monday The week of June 28 later tonight, for use starting tomorrow.

    So don't miss out and read up on this thread while it is visible and apparent.

    Have a great evening!

    Stocks principally covered are MGLG, BCLE, BCND, BEHL and some others in the last pages.

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