(2016-10-19, 10:38 PM)pcabc Wrote: I prided myself in producing a close approximation to the Mansfield Releative Strength. However, I notice you plot the Relative Strength overlaid with a long term MA of the Releative Strength as your zero line. Also noting that you have discussed this with Stan Weinstein (result!) with the rising 'zero' being a sensible criterion. I'll have to give that a go.
I've found that the additional information provided by the slope of the Relative Performance 52 week MA / "zero line" has really helped me filter out the stocks that are too early to consider even if they are breaking out into early Stage 2A. In my opinion the extra information provided by the slope of the MA makes it more useful than the standard Mansfield RS, as you can see both long and short term relative performance at the same time.
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.
(This post was last modified: 2016-10-19, 11:27 PM by pcabc.)
RE: UK Stocks - Watchlist and Discussion
(2016-10-19, 11:16 PM)isatrader Wrote: I've found that the additional information provided by the slope of the Relative Performance 52 week MA / "zero line" has really helped me filter out the stocks that are too early to consider even if they are breaking out into early Stage 2A. In my opinion the extra information provided by the slope of the MA makes it more useful than the standard Mansfield RS, as you can see both long and short term relative performance at the same time.
That is a 1 year average, that takes a while to turn around.
If I post and more breakouts that are inside or below the weekly Ichimoku cloud then feel free to berate me as I should now be checking. :-)
In general I think that breadth has weekend. However, one for the watchlist:
A few for the UK watchlist from todays scans - FPM.L, AMO.L, TEP.L
FPM.L came up earlier this week on the watchlist and today made the Stage 2A breakout attempt, closing the day above the breakout level on just over 2x average daily volume. The weekly relative volume stands at 1.49x average weekly volume, and so needs to have a strong volume day tomorrow and also close the week above the breakout level to confirm the Stage 2A breakout attempt.
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.
(2016-10-20, 06:59 PM)isatrader Wrote: A few for the UK watchlist from todays scans - FPM.L, AMO.L, TEP.L
FPM.L came up earlier this week on the watchlist and today made the Stage 2A breakout attempt, closing the day above the breakout level on just over 2x average daily volume. The weekly relative volume stands at 1.49x average weekly volume, and so needs to have a strong volume day tomorrow and also close the week above the breakout level to confirm the Stage 2A breakout attempt.
So just to confirm, as my timing is often a bit sub optimal. This is a valid buy right now but if weekly volume does not confirm then sell on the rally? Or are you suggesting waiting until the end of the week? If the latter that can often be a bit late.
I realize this is this is a bit of a basic question for someone who has been around here for so long. However, sometimes I find it is good to ask the basic stuff, even if you think the answer is obvious, as I find it often provides clarity of thought.
(2016-10-20, 11:18 PM)pcabc Wrote: So just to confirm, as my timing is often a bit sub optimal. This is a valid buy right now but if weekly volume does not confirm then sell on the rally? Or are you suggesting waiting until the end of the week? If the latter that can often be a bit late.
I realize this is this is a bit of a basic question for someone who has been around here for so long. However, sometimes I find it is good to ask the basic stuff, even if you think the answer is obvious, as I find it often provides clarity of thought.
Yep, imo it's at the investor Stage 2A entry point today, and so I'm considering buying it tomorrow personally if it still looks right, although I might hold on until later in the day to see if it confirms and meets the weekly chart criteria, but as the close today was good, I will see how I feel about it in the morning. As am out for parts of the day at work without access to my account, so can only trade it on the open or at lunch time.
The only thing that's putting me off is the volume, as the other criteria look good. Will sleep on it.
P.S. On your note about selling on the rally if the volume doesn't confirm. It's not something I like to do personally unless it immediately fails the next week, as light volume alone in UK stocks isn't enough of an indicator as UK volumes don't tend to have the same patterns as the US stocks. As volume tends to be much lower and spreads much higher except in certain areas of the market.
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.
I prefer the way that FPM is moving compared with IAE. Its more consistent rather than jumping around leaving gaps. But I am liking the volume on IAE more.
(2016-10-20, 11:27 PM)isatrader Wrote: Yep, imo it's at the investor Stage 2A entry point today, and so I'm considering buying it tomorrow personally if it still looks right, although I might hold on until later in the day to see if it confirms and meets the weekly chart criteria, but as the close today was good, I will see how I feel about it in the morning. As am out for parts of the day at work without access to my account, so can only trade it on the open or at lunch time.
Might get in myself. Unfortunately I don't have the option of makings trades during the day. And I absolutely don't want to try and do it from my mobile. So I have to put in orders in the evening or before work.
Quote:The only thing that's putting me off is the volume, as the other criteria look good. Will sleep on it.
Volume is something I have to work on myself. Not noticing spikes, but the finer details like their size relative to recent performance.
Perhaps I ought to rework my screener to pick primarily on volume and then chuck out anything where the price is not breaking out.
Quote:P.S. On your note about selling on the rally if the volume doesn't confirm. It's not something I like to do personally unless it immediately fails the next week, as light volume alone in UK stocks isn't enough of an indicator as UK volumes don't tend to have the same patterns as the US stocks. As volume tends to be much lower and spreads much higher except in certain areas of the market.
Interesting point. I've had many positions where I was certain that I've got dead ducks but I have been awaiting a fall to a much lower stop loss. OTOH I've noticed after a breakout sometimes a week or so is needed for a stock to pullback a little before a climb back above the breakout. Minervi mentions this in his book. So being too hasty to sell would not work with these.
I've been following US stocks more closely more recently, simply as that is where the better performance has been.
