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RE: Members Discussion - Texasmgax - 2022-02-07
Hey Folks,
Brand new here and (and pretty new to Wyckoff) had a question about fundamentals. I've been a CANSLIM investor for years, which as Im sure you know takes into account a decent amount of fundamentals.
Here, I don't see too much discussion around them.
Does Wyckoff technique ignore them for the most part and focus solely on TA?
Thank YOu
RE: Members Discussion - isatrader - 2022-02-07
(2022-02-07, 02:37 PM)Texasmgax Wrote: Hey Folks,
Brand new here and (and pretty new to Wyckoff) had a question about fundamentals. I've been a CANSLIM investor for years, which as Im sure you know takes into account a decent amount of fundamentals.
Here, I don't see too much discussion around them.
Does Wyckoff technique ignore them for the most part and focus solely on TA?
Thank YOu
Both Stan Weinstein's Stage Analysis and Wyckoff methods are 100% technical as they focus on price, volume, relative strength, lack of resistance, group strength and market breadth etc. So fundamentals aren't considered in the methods. But it doesn't mean that you can't or shouldn't, as CAN SLIM techniques are a perfectly valid to use alongside both methods as they all focus on similar entry zones and will find the same stocks regardless. So if you are more long term oriented for position trading over multiple quarters or investing for longer periods then strong sales and eps growth for example are always a good thing to consider along with the technical characteristics that we look for as can help filter down to find the best quality stocks. i.e. if you narrowed down your selection to a few stocks in the same group, then obviously the future sales and growth prospects could then help you make the final decision as to which stock to buy if the technical picture is similar.
RE: Members Discussion - Texasmgax - 2022-02-07
(2022-02-07, 03:25 PM)isatrader Wrote:(2022-02-07, 02:37 PM)Texasmgax Wrote: Hey Folks,
Brand new here and (and pretty new to Wyckoff) had a question about fundamentals. I've been a CANSLIM investor for years, which as Im sure you know takes into account a decent amount of fundamentals.
Here, I don't see too much discussion around them.
Does Wyckoff technique ignore them for the most part and focus solely on TA?
Thank YOu
Both Stan Weinstein's Stage Analysis and Wyckoff methods are 100% technical as they focus on price, volume, relative strength, lack of resistance, group strength and market breadth etc. So fundamentals aren't considered in the methods. But it doesn't mean that you can't or shouldn't, as CAN SLIM techniques are a perfectly valid to use alongside both methods as they all focus on similar entry zones and will find the same stocks regardless. So if you are more long term oriented for position trading over multiple quarters or investing for longer periods then strong sales and eps growth for example are always a good thing to consider along with the technical characteristics that we look for as can help filter down to find the best quality stocks. i.e. if you narrowed down your selection to a few stocks in the same group, then obviously the future sales and growth prospects could then help you make the final decision as to which stock to buy if the technical picture is similar.
Thank you. Im actually looking to add some "shorter-term" technical plays to my investing. I was doing some comparisons between your watchlist, and stocks I'd find on MarketSmith searching for CANSLIM plays and there was certainly some overlap.
Looking forward to digging into Wyckoff more.
Thank you.
RE: Stage Analysis Beginners Questions - Texasmgax - 2022-02-08
I feel stupid asking such a dumb question, but I'm confused re: moving averages.
So for the weekly, we want the 10 & 30 week avgs. Which are essentially the 50 & 150 DMAs
But on your StockCharts screenshots, your charts say 10&30. Im confused on how to set the stockCharts moving averages. I dont see a weekly moving average, only simple and Ema.
Chart settings - isatrader - 2022-02-08
(2022-02-08, 09:47 AM)Texasmgax Wrote: I feel stupid asking such a dumb question, but I'm confused re: moving averages.
So for the weekly, we want the 10 & 30 week avgs. Which are essentially the 50 & 150 DMAs
But on your StockCharts screenshots, your charts say 10&30. Im confused on how to set the stockCharts moving averages. I dont see a weekly moving average, only simple and Ema.
Don't get to bogged down in the moving averages. It's fairly simple, as on the weekly chart you want to show the 10 week Simple Moving Average and the 30 week Simple Moving Average. On other timeframes you can use whatever you like, but I like to use the same MA settings on the intraday charts (i.e. 2 hour chart), so that has a 10 and 30 SMA for that timeframe. However, on the daily chart my preference is for including a short, medium and long term MA. So I use the 21 day Exponential Moving Average, a 50 day Simple Moving Average and 200 Simple Moving Average, as they are most common MAs and used in other methods, such as CAN SLIM for example.
Weekly chart:
10 and 30 Simple MA
Daily chart:
21 Exponential MA
50 Simple MA
200 Simple MA
Intraday (4 hour chart or less):
10 and 30 Simple MA
RE: Stage Analysis Beginners Questions - isatrader - 2022-02-08
(2021-12-28, 11:28 PM)fabi470 Wrote: Hi Isatrader!
I hope you had a nice christmas time.
I have a question: i am askingmyself what is more important in stock selection. A strong industry group or a strong sector?
Lets assume that you have two options and you definitely have to choose one:
- Stock A in a very strong industry group, but in a lagging sector
- Stock B in a very strong secot, but in a lagging industry group
So, what is more important to you? Of course, the ideal scenario is a stock that trades in both, the best industry group and in the best sector, but real life is not perfect all the time.
I would love to hear from you and your valuable opinion!
Greetings and a good start in 2022 already!
Hi fabi470,
I completely missed this one. So sorry for the exceptionally slow reply.
For me industry group, and even the sub group within in that is more important than the overall sector, as it includes the stocks direct competitors. So I'd want to see the group moving well first, as the sector includes unrelated areas. So is secondary imo.
RE: Chart settings - Texasmgax - 2022-02-08
(2022-02-08, 12:08 PM)isatrader Wrote:(2022-02-08, 09:47 AM)Texasmgax Wrote: I feel stupid asking such a dumb question, but I'm confused re: moving averages.
So for the weekly, we want the 10 & 30 week avgs. Which are essentially the 50 & 150 DMAs
But on your StockCharts screenshots, your charts say 10&30. Im confused on how to set the stockCharts moving averages. I dont see a weekly moving average, only simple and Ema.
Don't get to bogged down in the moving averages. It's fairly simple, as on the weekly chart you want to show the 10 week Simple Moving Average and the 30 week Simple Moving Average. On other timeframes you can use whatever you like, but I like to use the same MA settings on the intraday charts (i.e. 2 hour chart), so that has a 10 and 30 SMA for that timeframe. However, on the daily chart my preference is for including a short, medium and long term MA. So I use the 21 day Exponential Moving Average, a 50 day Simple Moving Average and 200 Simple Moving Average, as they are most common MAs and used in other methods, such as CAN SLIM for example.
Weekly chart:
10 and 30 Simple MA
Daily chart:
21 Exponential MA
50 Simple MA
200 Simple MA
Intraday (4 hour chart or less):
10 and 30 Simple MA
thank you... I appreciate it.
Sectors and Industry Group Question - Texasmgax - 2022-02-10
When you're looking to "buy in the leading groups/sectors" in general, what kind of time frame are you looking at in terms of a leading sector?
Leading today or this week? Over the last month? Quarter?
Thank you in advance