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Saturday, December 20, 2003 10:12:57 AM
200 DAY MOVING AVERAGE BOTTOM PLAY: I am starting to notice a lot of stocks that have made big runs that are starting to come back down and retesting the major long term trend. some of them are holding some them are breaking down. we will focus on the ones that are holding.
** the key conformation for me is a positive on balance volume.
it has to be above the zero line when approaching 200 day MA
These should be ez 50%-100% gainers once they set for the run.
comments: with bottom plays its a very dangerous game. you expose yourself to following : reverse stock splits & bad news
you can get burned really bad. thats why I use on balance volume as a indicator as long its at or above the zero line I feel more comfortable with the play, but thats not guaranteed.
here are a few examples:
will be putting out a list of stocks that fit this criteria.
on a regular basis.
if you notice 2 of the charts I posted have a similar chart pattern, a falling wedge pattern. this a very nice trading pattern.
** the key conformation for me is a positive on balance volume.
it has to be above the zero line when approaching 200 day MA
These should be ez 50%-100% gainers once they set for the run.
comments: with bottom plays its a very dangerous game. you expose yourself to following : reverse stock splits & bad news
you can get burned really bad. thats why I use on balance volume as a indicator as long its at or above the zero line I feel more comfortable with the play, but thats not guaranteed.
here are a few examples:
will be putting out a list of stocks that fit this criteria.
on a regular basis.
if you notice 2 of the charts I posted have a similar chart pattern, a falling wedge pattern. this a very nice trading pattern.
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