tag:blogger.com,1999:blog-1325562478910773152.post2605493872820480526..comments2023-10-05T07:58:27.997-04:00Comments on OONR7: PENX - LongUnknownnoreply@blogger.comBlogger6125tag:blogger.com,1999:blog-1325562478910773152.post-53326078365498434572007-06-29T01:56:00.000-04:002007-06-29T01:56:00.000-04:00@jerry: I really was thinking about entering on th...@jerry: I really was thinking about entering on that first big push as it met all my criteria. However, it closed at $24 and the high/low spread was much high than 1%. So, I was hoping for a better setup which happened two bars later.<BR/><BR/>@jamie: thanks... yeah, volume all but dried up before the big push. I was looking for some more volume behind the move which happened during the consolidation.OONR7https://www.blogger.com/profile/17622886234639917711noreply@blogger.comtag:blogger.com,1999:blog-1325562478910773152.post-21168962507245223472007-06-28T20:58:00.000-04:002007-06-28T20:58:00.000-04:00Nice work,I like the price/volume contraction on t...Nice work,<BR/><BR/>I like the price/volume contraction on the dip and the volume spike on the breakout.TJhttps://www.blogger.com/profile/13294634341130531371noreply@blogger.comtag:blogger.com,1999:blog-1325562478910773152.post-36687585270145328022007-06-28T19:24:00.000-04:002007-06-28T19:24:00.000-04:00Great trade. This was the stock I monitor if I was...Great trade. This was the stock I monitor if I was to trade today. But I dont think I could of done any better than you. Because I will usually jump in at a full bar. However, I will learn to do as you sometime.<BR/><BR/>I am having Mr.Jack kicking my behind if I don't follow the rules I learn.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1325562478910773152.post-32597183947242488282007-06-28T17:05:00.000-04:002007-06-28T17:05:00.000-04:00tom: I should also mention that I usually scan sto...tom: I should also mention that I usually scan stocks that have traded at least 100k shares from the open and have an average volume of 100k. However, I removed both those criteria this morning to see how it would affect my watchlist. Since I scan based on virtual volume, I should be getting the same set of stock as before... but possibly some good surprises. That's what PENX ended up being, a good surprise. I just looked and it's average volume for the last 30 days was 16k... practically nothing.OONR7https://www.blogger.com/profile/17622886234639917711noreply@blogger.comtag:blogger.com,1999:blog-1325562478910773152.post-78366933252306420362007-06-28T16:55:00.000-04:002007-06-28T16:55:00.000-04:00tom... I use prophet.net and scanned for stocks th...tom... I use prophet.net and scanned for stocks that gapped up from yesterday's close (at least .4% higher, vice versa for shorts). I then sort this list by virtual volume - a nice feature prophet has to 'project' what the volume may be at the end of the day based on the current volume. I do this for gaps up and down. I only take stocks whose virtual volume is at least 1 million shares. From here I look at the :15 chart (over 2 days) and quickly eliminate stocks that don't have price increments of at least .10. I also nix stocks whose entire candle on the first :15 has not gapped up or below the previous close. I like to see a gap. I also kill stocks that have already hit the intraday fib. ext. before a good entry candle forms (just feel the move may be over by then and an entry afterwards, especially if price falls back down, is riskier). From there, I just look at patterns. I liked PENX because price stayed in the upper third of the OR. <BR/>You can also look for gappers above the previous close AND above yesterday's high or low.OONR7https://www.blogger.com/profile/17622886234639917711noreply@blogger.comtag:blogger.com,1999:blog-1325562478910773152.post-28573223489880691692007-06-28T16:39:00.000-04:002007-06-28T16:39:00.000-04:00oonr7 - my scan this morning returned 65 candidate...oonr7 - my scan this morning returned 65 candidates - and that is with a 1.39% gap and avg. vol over 350K. I missed PENX - my question is how did you narrow your list to find this or did you wade through alot to find it - since it was a huge gap on top of prior volume in the tens of thousands I imagine you scanned for big gaps as opposed to smaller with higher volume? For so many stocks gapping up there less than 5 good setups that I found - none of them which I took.Tom T.https://www.blogger.com/profile/02931767044700231397noreply@blogger.com