I currently using a strategy I created for CT that, every once in a while, is extremely good at finding up trends developing on all three major Wizeman. I simply look for the Month, Week and Day showing a fresh cross (green) at the same time. It's a very simple set of rules to create and automate. The strategy is designed to run on a basket of stocks when you're in a large % of cash in your account.
I'm currently in:
ADM from 28.04 : trigger date 3/12.
HP from 22.81 : trigger date 3/12. Target hit and trailing.
JCG from 10.89: trigger date 3/12. Target hit and trailing.
The exits I use are based on % of the ATR. The strategy is on the Web community under NickP. Check it out and READ the descriptions.
On WT/ Wizefinder, simply set up a scan for the 3FWM as a fresh cross and do some chart reading for the best ones. For Options players, use Options Hunter in the same way and go out to at least 4 months.
Nick p.
Never underestimate the power of the short squeeze rally. Especially from such a long and demoralizing sell off in stocks.
Don't try to force a short into a moving train up just because of price. Price does not matter when emotions are involved to the down side and especially the upside where market mechanics are causing the short sales to cover and late - to - the - game players will need to put money to work and chase returns.
The S & P 500 at 800 should hit some resistance.
Nick P.
Days like today, where the DOW is up 100+ points off of some lows we have not seen since 1997, I look for some long side opportunities to automate that will potentially trigger in a week or so. These strategies, like swing trade long or intermediate trade Long are run on those strong stocks on the month. Even thought he week has turned RED, I don’t care, because I now the rules to those strategies wont trigger the trade long unless the stocks get better on the weeks and days charts be design of the strategy.
For example, I’d consider the following:
MYL – Swing Trade long (strong sector- generic drugs within health care industry as a whole).
IBM- Intermediate trade long (strongest tech stock and in the DOW).
Akam- Position trade long or swing trade long (another decent strong tech stock).
even if your not automating , or simply a n options trader, these are stock on your list that you need to have on the programs overview screen. if your fully automating, your wont get in until he lights say so, if your in manual mode, stick to the correct entry methods and rules designed for these strategies. Never anticipate a move!!
Nick p.
