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Post# of 140146
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simplegreen

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simplegreen

Re: None

Sunday, 01/13/2008 12:07:27 PM

Sunday, January 13, 2008 12:07:27 PM

Post# of 140146
Board...I posted a PM answer to a trader earlier today and it struck me that my answer might help a lot of others in understanding of market mechanics whether its equities or FOREX.The question I was answering had to do with scanning for Pox Pinch plays BTW so a part of my answer was scan results from a set of criteria for that...the important part is following the scan results tho:


here is what I get so far with Stockfetcher...

DFCLQ
CNSC
AUCI
GTOP
SLND


I did not use the RSI parameters at all..IMO the first order of business is to find the pinchers.At that point the Pincher goes on close watch.If you use the 3 ascending values you just might find a Pincher that has already had a portion of its dead cat bounce and IMO Pincher plays are a danger in that most of the jump is exactly that...dead cat bounces.It is far better also IMO to gain a full understanding of how almost all stocks trade relative to Elliot Wave theory...once you have a fundamental grasp of that type of price action then you can get full benefit of Pinchers...or any other stock for that matter.Once a pincher is fully bottomed then you will find a breakout run begin...if you miss it...no big deal since there will be 2 and sometimes 3 upward waves and each will have a bearish correction.Check charts on any you like and see the basic action I speak of after a breakout.Ok..if you miss the first wave up...watch for a bearish correction of less than 50%(the less of a correction the more powerful will the wave 2 run be) and catch wave 2 up on bullish reversal..wave 2 is usually strongest BTW....pull out of wave 2 as soon as MACD rolls over flat..that should mark peak of wave 2...a third wave after correction might happen but the smart money is not to ride that one even if it occurs because the drop from there is long and nasty with tiny bullish corrections all the way back to a bottom.Hope this helps someone(s)...Simple


Simple

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