May 5, 2008

Slap me

Sheer boredom. I had some issues with prophet this morning so I wasn't even sure I was putting my watchlist together with the correct stocks. After everything was settled my watchlist dwindled down to nothing. Traded FCX for a small loss on a decent setup but there was just no movement after entry.
Something tells me summer's gonna really suck.

11 comments:

greytrader said...

MEE and WLT were decent setups on 15'

OONR7 said...

yeah, I can see WLT but an entry in MEE isn't so clear.

RZ said...

The way i see it,

MEE: Nice NR7 hammer sitting right on the 5ema and near the 30min opening high (6th bar on 15min). Drill down to the 5min and you can see a semi C&H which successfully hits the 100% extension.

Thoughts?

Also what exactly do you see on WLT?

QQQBall said...

hey, you're in france, take the summer off! everyone else does :)

bl said...

NR7,
Commodities and financials(-WM)

OONR7 said...

rz: still not convinced about MEE. I guess you can make a case for the inside NR7 that formed during the 6th bar (:15) but it was red and part of a 3 down bar set. Price spiked then fell down strong again (maybe that 3 down bar formation was a precursor???). Anyway, this is a good example of a trade that presents a lot of doubt for me and it's better to just pass than to regret the entry.

As for WLT, I can see justifying an entry (however, I would not take it) off a break of the 11:45 bar which closed strong above the ORH and R2. Of course, if you placed your stop at the opposite end of this candle the next bar would've stopped you out. I personally like entering off reversal bars or nr7.

Jeffrey said...

oonr7

Are you still using prophet.net for gap scanner? If so, do you mind listing the parameters you use in section 6, Interday Activity section.

Thanks...

Jeffrey said...

oonr7:

Are you still using Prophet for a gap scanner? If so, do you mind posting your parameters from the Intraday Activity section? I am having problems understanding the

Gap Up/Down (and Holding)
Gap Up: Today's is at least greater than the Previous High
and is greater than

Gap Down: Today's is at least less than the Previous Low

usage.

Thanks...

greytrader said...

WLT, I entered on a break of the 11:30 15' bar. The 12:00 bar came within 3 pennies of my stop but did not take me out. Slim pickings these days.

OONR7 said...

jeffery: here you go...

Gap down:
•Exchanges: NYSE AMEX NASDAQ(NM,SC,OTC,BB)
•Last Price is at least 5
•Today's Open Price is at least -0.01 dollars lower than the Previous Low and the Open Price is at least -1.50% lower than the Previous Close
•Average Volume is at least 500,000 shares
•Percent Change is more than -1.50%

Gap up:

•Exchanges: NYSE AMEX NASDAQ(NM,SC,OTC,BB)
•Last Price is at least 5
•Today's Open Price is at least 0.01 dollars higher than the Previous High and the Open Price is at least 1.50% higher than the Previous Close
•Average Volume is at least 500,000 shares
•Percent Change is more than 1.50%

Jeffrey said...

Thanks, that helps...