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Re: martyboots post# 592

Wednesday, 12/08/2010 9:14:50 PM

Wednesday, December 08, 2010 9:14:50 PM

Post# of 605
No, but obviously, you will find more when the market plummets.
I think the problem is you need corroborating indicators. Like double bottoms or the bottom being a fibonacci target filling. Making sure the ppo and adx are both turning. The adx ought to be 50 or higher, the green adx line should bottom out below 10. etc, etc. Then you have to realize the pincher is simply a reversal formation. It doesn't say how much reversal you get.
You also have to buy early or you have to wait for Mr. gamechangers rules of buying after the ppo breaks through zero. Selling as the ppo fastline crosses down the slow.
The best of your list is LIOX, in my opinion. But it already did the bounce. Now, so much else comes into play.

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