post #161 of 10571
9/10/09 at 2:43pm
Remember the pinch play is a strategy used for stocks who are oversold and have hit a bottom. UBET already bounced off one some days ago and you can see it directly in where the PPO/ADX pinch occurred at the beginning of September. It would seem the pinch lasts longer for stocks over 1.00
So Rock, what stock do you feel is your best shot for the pinch ply right now?
Thanks for the tip on Stockfetcher, hadn't seen that one before.
Have you created a search parameter on that site that matches your pinch criteria? I played around with it for a bit but I don't quite have all the pieces I need. Would you mind posting yours if you do?
I can't get the DI's to overlay the ADX in ProphetCharts, or the B-Bands for that matter, so I'll probably get a subscription to one of the charting websites.
Thanks again for your insight.
|and RSI(2,5) crossed above 20 in the last 4 days
and volume is above 1000000
and price is above .001
and price is below .50
and Percent Price Oscillator(10,50) has decreased for last 4 days
and ADX(14) has increased for last 4 days
draw MACD Histogram(12,26,9)
draw Williams %R(14)
I don't have anything I'm hot on other than NEOM. I used my new stockfetcher account to run some scans, but nothing is coming up so far. I'm actually surprised at the fact that some of the stocks I've watched/played don't come up on that site.
Anyways, NEOM's RSI(2,5) finally kicked up to 30. The Williams%R is heading up back over -80. MACD will need to turn up. I got in @ .0053 ...... it may be a few days early, as the PPO/ADX are still heading towards each other, but I'm confident. Now it's time to sit back and wait for that volume to kick in.
I've also been a little busy with work the past couple of days so I haven't had as much time. Feel free to run any stocks by me if you have questions.
Curt, I do believe it's time to start looking at CABN. I made mention of it a couple of days ago and the volume is building nicely. It had a green day today and the RSI(2,5) are flat in oversold, so look for them to turn up. Williams%R looks good and the MACD needs to turn up.