Thoughts....

I've included several new setups in the weekend update. Despite the weakness in the market, I'm still locating a ton of short setups that I feel offer good risk to reward opportunities. I also added a few intraday ETF setups to the list. I'll try to make a few posts during the week.

Comments

Unknown said…
Tony - I just want to say thanks for all the work you do. My learning curve has gotten much better.

S/T
October 26, 2008 at 9:33 AM
Tony.Wiltshire said…
No problem...good luck this week.
October 26, 2008 at 7:57 PM
moneyfarm said…
Just discovered the blog and wanted to thank you for posting your thoughts on so many charts. Question - how do you screen for your long and short candidates? What criteria do you typically screen for and what software or online screener do you use?
Thanks
October 28, 2008 at 12:32 AM
Tony.Wiltshire said…
Moneyfarm,

Thanks for the comments. I've been a user of stockcharts.com going on 10 years. To answer your question, most of the "scans" I use are based on MAs and were created in their formatted engine. Unfortunately, I haven't found that "magic scan" yet. It's mostly just hard work. I'll make a post this weekend with the details of the scans I use. Maybe you'll come up with one better.

Regards,

Tony
October 28, 2008 at 9:03 AM
moneyfarm said…
Tony,
Thanks, I look forward to your post. I mostly run fundamental screens (both my own and others from IBD, Kirk Report, etc) and visually look at each chart for setups - a lot of work but I enjoy it. I'm looking for ways to better narrow down candidates by filtering for technicals using online screens like FINVIZ, stockcharts, etc.
PS - I liked several of your charts. ACGL triggered an alert for me to short today at 64.64 range, but I have yet to pull the trigger,
October 28, 2008 at 12:43 PM
Tony.Wiltshire said…
MoneyFarm,

You're doing the same the same thing as me then. As you mentioned, it's a lot of work, and I don't think most folks realize it. I'll post my scans this weekend. I nibbled on ACGL off the open, and I'll take the loss on a move over today's high....probably too tight since it's toast long term but it fits my style and there won't be a lot of damage. On another note, the DIG, SKF and TWM setups are working out okay so far.
October 28, 2008 at 1:41 PM
moneyfarm said…
Thanks, I actually entered a small short on ACGL at 64.50 - not stopped out yet. Been long OIH via Nov 80 calls since late yesterday.
October 28, 2008 at 2:16 PM
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