(2015-03-12, 09:37 AM)isatrader Wrote:

(2015-03-11, 01:19 AM)Amedee Wrote: Another one for the watchlist: XLRN
I was going through some stock queries on the P&F site of Tom Dorsey and came along XLRN (sector Drugs).
The filter was set for favored sectors + large base stocks + price $10 - $500 + weekly momentum between 0 and 3 weeks positive (on average, weekly momentum lasts positive or negative during 7 weeks).
+ Favored sector
+ RS trend positive
+ Weekly momentum 3 weeks positive
- Monthly momentum 6 months positive
+ The Reward to risk is 2.37 to 8, depending on the calculation (I love to have the RR above 3).
+ Initial risk to stop loss is 10%
+ P&F Triple top breakout
+ Stage 2a or 2b?
Any other thoughts?

Some charts see this padlet: http://padlet.com/Amedee/5214bepuenhb

XLRN technically made an early Stage 2A breakout attempt back in December, but it didn't meet all of the breakout requirements. Note the weak close on the weekly bar of the breakout attempt week, which needs to be in the upper third of the bar at the close of the week for a confirmed Stage 2A breakout imo, as a strong weekly close is required.

(2015-03-12, 11:03 PM)isatrader Wrote: For the US long watchlist tonight - HOMB, TWOU, CISG, CY, MYRG, SUPN, TRVN, WUBA, AST

(2015-03-12, 11:07 PM)Amedee Wrote: Isatrader, I don't see the weak volume...
In the following chart I highlighted the volume in green. Average volume is 1.3325.622 and it reached that week more then 4.000.000. It looks like that was the breakout attempt, no?

(2015-03-12, 11:07 PM)Amedee Wrote: Where do you see the weak close on the weekly bar? Could you point it out on the chart?

(2015-03-12, 11:24 PM)isatrader Wrote:

(2015-03-12, 11:07 PM)Amedee Wrote: Isatrader, I don't see the weak volume...
In the following chart I highlighted the volume in green. Average volume is 1.3325.622 and it reached that week more then 4.000.000. It looks like that was the breakout attempt, no?

I think you misread my post. I didn't say it had weak volume. Just a weak close on the weekly price, as it was in the lower half of it's weeks range, which is not good on a breakout, which must close the week in the upper third of the weeks range ideally.

Also, it was definitely a breakout attempt. But was just missing the price requirement, which is one of the most important imo.

(2015-03-12, 11:07 PM)Amedee Wrote: Where do you see the weak close on the weekly bar? Could you point it out on the chart?

See attached with explanation. Hopefully my maths is correct, but roughly closed at 35% of the breakout weeks range. Where ideally you want to see over 60% to consider it a strong weekly close imo. As 35% is almost in the lower third of the weeks range. Whereas you want it to close in the upper third of the weeks range and ideally near the high of the week.

(2015-03-12, 11:33 PM)Amedee Wrote: Yes, I misread your post. Thank you to explain! Now I understand. Does Weinstein writes about that closing price?

(2015-03-12, 11:42 PM)isatrader Wrote: Yes, a strong weekly closing price is definitely talked about by Weinstein, although I can't remember where exactly as it's come up a number of times. It might be in the Extract from Stan Weinstein's interview in the "Technically Speaking" book which can be downloaded on the original Stage Analysis thread on trade2win here: http://www.trade2win.com/boards/technical-analysis/134944-stan-weinsteins-stage-analysis-89.html#post2037672 and if not it's a still a good read for people interested in Weinstein's method, as talks about some different stuff than the book.

(2015-03-12, 11:07 PM)Amedee Wrote: Lot's of opportunities in my opinion...
CY - favored sector semiconductors - RR = 5 (and 9 weeks of negative weekly momentum > breakout near?!). I have a position in this one and hope to add when it will pull back after the breakout...

(2015-03-13, 10:31 PM)Amedee Wrote: Cy breaking out today (high $16.25) with high weekly volume... Stage 2B continuation buy I assume...