Legal Disclaimer

All opinions expressed on this site are those of the author and may contain errors (I make mistakes) or omissions (I am not telling the whole truth).

!Thank You!

Sunday, January 18, 2009

Charting 103

First, thanks to those to left comments because it seems like the readership has changed somewhat since I started.

what program do you use for stock screening?

I use Schwab StreetSmart Pro to scan for the stocks; however, it does not allow me to input different MA for the screen. I can only select from the ones provided. Who designs lame software like this! Off on a tangent again.

I have also used Ameritrade StrategyDesk before. It has real time alerting but was a little complicated to configure. I might have to revisit again.

Ideally, if you can find a scanner that alerts based on the following conditions:

Candidates for BUY coming up
Average Daily Volume >= 1,000,000
Current Price > 4ema
Current Price < 21sma

Candidates for SELL coming up
Average Daily Volume >= 1,000,000
Current Price < 4ema
Current Price > 21sma

And if you find such a screener with minimnal cost, please let me know.

Why do you have K%,MACD, etc, If all you are looking for is a crossover?

First, stop looking at charts in one dimension.

I use the MACD to indicate the possibility of being oversold or overbought.

Look at the following charts with 2m, 3m, 5m time frame.
I have removed the symbol on purpose.
Keep in mind that just because a stock is oversold/overbought,
it does not mean it can stay in oversold/overbought
or become more oversold/overbought.

21sma not in the picture, MACD is.

21sma not in the picture, MACD is.


Based on the information provided, would you buy the stock and why or why not?

Please anwers to share in comments.

>What I did

If you look at the chart, I have introduced yet another TA indicator - Intraday Pivot Point