(This post was last modified: 2014-02-28, 10:56 PM by musgooo.)
RE: Beginners Questions
(2014-02-28, 10:35 PM)isatrader Wrote: Hi musgooo, welcome to the site.
It's a good first analysis, well done. But you missed the Stage 2A breakout point by one, as the first breakout you identified was actually the 1st Stage 2 continuation move, as the Stage 2A breakout point occurred on week ending the 6th September 2013 at 0.6829.
The reason it's hard to see is that your chart is using standard scaling and PLUG has already moved a long way in a short time of nearly 600%. It's funny, as it's actually one of my positions, as I got in on the 3rd January 2014 at $2.65 just after what you've marked as the second breakout, which was actually the second continuation move. And so, if it breaks and closes above the current swing high of $4.90 then it will be making it's third potential continuation move.
Stage analysis should be done firstly on a weekly chart. So setup your weekly chart with logarithmic scaling and a 30 week MA, and with the relative performance versus the S&P 500 and volume as in the attached example. As having your charts setup in the same way as in the book and this site will help you to be able to compare to what you are seeing with the multiple examples on here, and so will help you learn quicker.
I'm happy to help with any questions that you might have, but if you are interested in learning the method then I'd recommend getting Weinstein's book first and starting there, as then you'll be able to understand the examples and any discussions on the site much easier and as I said I'll be happy to help with any questions that you might have.
Thank you for your support.
It's true. "My first breakout" was the second one.
I read the book some time ago but I will read again.
Thanks for your advices and congrats for having PLUG at $2.65.
(2014-02-28, 10:51 PM)musgooo Wrote: Thank you for your support.
It's true. "My first breakout" was the second one.
I read the book some time ago but I will read again.
Thanks for your advices and congrats for having PLUG at $2.65.
Good stuff and thanks.
I saw you were having problems attaching an image to your post. So if you are unsure how to attach an image with your post see the How to attach an image to a post thread, and it explains the best way to attach images on the Stage Analysis forum.
I hope that helps.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
(2014-03-01, 08:56 AM)fole Wrote: Hey all! Love this Forum! Here comes a few beginner questions:
1. When he refers to the overall market, is he referring to Dow, S&P and Nasdaq?
Hi fole, welcome to the site,
1. In the Global Trend Alert newsletter that he does for institutional clients he always talks about the SPX, DOW, COMP, and the RUT when talking about the overall market. And always considers them together along with his proprietary Stages Surveys (percentage of stocks in Stages 1 & 2) when determining the overall market Stage.
A good way to understand the basics of the method is to hear from Weinstein himself, as he's done a number of 15-20 minute interviews in the last few years on the Financial Sense Newshour. Here's the link to the archive of them:
(2014-03-01, 08:56 AM)fole Wrote: 2. In pro real time: Can I List sectors? Or how do I know which stocks are under which Sector?
You can list the sectors in prorealtime, but you have to search for the tickers to make up your own list, and save the list.
A better alternative is available on stockcharts here: http://stockcharts.com/freecharts/indust...ECTOR_SPDR and lists the US Sub Sectors by major Sector. You can click on the names of the sectors to go through to see what stocks are in each sector and you can view the charts using the icons in the first column.
I hope that helps.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Hi Fole, I'm a super beginner also. You can build lists in Pro Real Time for every sector. It's a real pain. I am going thru the process now. I have built lists for 8 of the 9 sectors of the economy. One of the problems is a list can only hold 50 stocks, so under the finance sector it took 11 lists just to list all the banking stocks under the sub sector of Finance called Banks.
With Pro Real Time, I can set my charts up and save the settings, (which I haven't figured out how to do with stockcharts, my charts always go back to the default chart). If some knows how to change the default settings on stock charts, I would appreciate knowing how.
The cool thing about the lists in Pro Real Time is when I have a list built, I can just use the mouse scroll wheel and scroll through each stock on my list. Only one more sector to go. We found a great and super helpful forum.
(2014-03-02, 07:17 AM)JimStudent Wrote: With Pro Real Time, I can set my charts up and save the settings, (which I haven't figured out how to do with stockcharts, my charts always go back to the default chart). If some knows how to change the default settings on stock charts, I would appreciate knowing how.
I concur with this statement. But I guess I would at least need a free account registered with StockCharts...which I currently don't.
JimStudent, in time, with ProRealTime, you may want to look at ProScreener. You can program screeners against your defined lists also, which is useful.
Thanks for suggestion about ProScreener. I hadn't even heard about it before. Do you or Does anyone have suggestions for screens that would use Weinstein's methods for breakouts, or even good short opportunities?
(2014-03-02, 11:57 PM)JimStudent Wrote: Thanks for suggestion about ProScreener. I hadn't even heard about it before. Do you or Does anyone have suggestions for screens that would use Weinstein's methods for breakouts, or even good short opportunities?
We've talked about it on numerous occasions in the UK thread, and I've posted the code for a number of screens that I use every day to filter down the list to the best few hundred that I then go through manually to find any stocks for the watchlist that match the stage analysis criteria.
