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Nice high volume off the 50 day line.
Abe...Did you weather the storm the next day on the high volume reversal ? Then to see it recover and advance today ?
Actullally I just sold it right now at 26.6. My rule is buy the pocket pivot in the CAN SLIM stock and hold for 3 days. If I get accumulation in those 3 days I will try to hold for another 3 days. MIND is extending today and it looks like accumulation is not going to happen. So I'll take my profit and wait for the next one.
Now it looks like somthing was off on my volume count. So this one may run a bit more. Oops. Oh well 8% in three days. I'll take it.
Abe I'm curious on how your short term strategy has worked over time. How long have you been using it. What type of returns have you been able to achieve, and what is the typical win loss ratio. Do you stricktly use the 3 day rule or do you also incorporate short therm moving averages like 10 day or any thing like that? I like to use the more intermediate term time frame, but curious on how that has worked for you. What ever you feel comfortable answering is fine. Thanks.
I didn't develop this strategy until after chartarcade came out last year. After about 400 hours of applying CAN SLIM rules to Chart Arcade it became clear to me that there is no reason to hold past 3-4 days after a pocket pivot launch off the 50 day, 20 day or 10 day line, unless there is follow on accumulation in 3-4 days. That gave me a 51.57% compound growth rate in chart arcade. I'm 5th in the Hall of Fame list there. www.chartarcade.com So I will continue to use this strategy. Woo Woo.
thats an interesting strategy.
any recommendations on how to apply it successfully?
what is your actual performance
year end 2011 2010 2009?
Let's just say it's nowhere near the audited results of 18,000% produced by Dr. Kacher and described in his book, "Trade Like an O'Neil Disciple". Read your Investor's Corner Archives, HTMMIS, and Dr Ks book, buy only the heavy volume up day in CAN SLIM stocks showing quick moves and shallow 20% deep or less consolidations lasting at least 3 weeks.
I'm not going to reveal all the ups and downs I had prior to the release of Dr. K's book, Chartarcade and Marketsmith, as those results aren't particularly relevant to the world today. And I won't advertise my 2011 or 2012 gain as the specifics relate only to my own timing of liquidity and my family's cash demands. They are not relevant to your possiblity and I wouldn't want to limit your imagination based on my experience. Besides it would only be a claim anyway and not proof. Plus I am superstitious.
I am happy to post the opportunites as I see them, though superstition keeps me from discussing any open positions. You can make your own assessment based on what you actually see with your own eyes.
do you have a blog or twitter i can follow?
This blog is the stock blog.
Being new to the marketsmith community, I tried setting up a screen base on pocket pivot rules. it just did not seem right. Abe do you have a pre set screen for this. I did order the book today "Trade Like an O'Neil Disicple", hope that it can give more insight to set up a screen for this. I would like to run it first and then apply it after I learn some more.
No pocket pivot screen here. Around 10:30 or 11 am eastern time I pull up the O'Neil screen and sort by Vol%Chg vs 50 day. That will get you most of the winners.
You can do the same with a Relative Strength screen, if you want launches like STX that have huge forward numbers but don't make it passed all the O'Neil criteria.
Thanks, Abe i will research.
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