Education and Market Wisdom

[Shadow]

Good morning everyone,

I am a new member here and I have decided to
start this forum for all us “new”investors. This site
is for education and questions that may not always
be appropriate in other forums or seem too elementary
for some. This way all remains in one forum and I don’t
clutter up your other forums. Works for me!

I hope all you wizards will help out. Please feel free
to post tidbits of advice /education even if the question
hasn’t been asked. I know I will appreciate it and I hope
there are others that will as well.

I can’t speak for everyone but I have a lot of learning to
do and I’m not embarrassed to admit it. I really only know
about ½ of what I think I know. I am an eager student.

Let the learning begin!

Thanks in advance for your time and patience.
Shadow

[DSteckler]

<< Please feel free to post tidbits of advice /education even if the question hasn’t been asked. >>

Never think a question is too elementary to ask; if you have the question, so do others who are too embarassed to ask it.

[billyjoe]

Shadow,
Do you have a cutoff point on price/book ratio? Thanks

billyjoe

[Shadow]

"Never think a question is too elementary to ask; if you have the question, so do others who are too embarassed to ask it."

Thanks Dave, I'll take you up on that


Shadow,
Do you have a cutoff point on price/book ratio? Thanks

billyjoe

No, I don't have that.

Thanks
Shadow

[Shadow]

There is a long story behind this and I won’t bore you
with the details but could I get some opinions on Merck?

[Shadow]

There is a long story behind this and I won’t bore you
with the details but could I get some opinions on Merck?

I sure could use some help with this stock; having trouble reading this one.

Recent Merck updates: New CEO; Gilmartin was ousted since he spent more time sitting on his brains than using them. Recent release of an intent to buy back $3 billion in shares. New drug releases in ‘07. Analysts seem divided on this one. I’m still not very good with trendlines and price targets. I know the FA side is not the best. Any opinions on this stock?

My choices are:
1. Leave 20% $ in bond fund PTTRX with 2.58% yield for '05.
2. Move bond fund $ into other existing funds or into a new fund.
3. Any or all $’s back into Merck stock for a short run up. Unlike
my brokerage account, this is the only individual stock I can
purchase for this account. Upside potential for a short term play?

[Runner]

I like the chart action on MRK since last gap up. Trend looks pretty good to IMO.

[Runner]

here the pic i see on mrk.
http://img475.imageshack.us/img475/145/mrk1jw.png (http://imageshack.us)

[Shadow]

Thanks Runner.

Do you have an idea of potential short term target?
Next trail is Jan 29th.

[Runner]

Shadow, I would suggest you follow your own led with stocks. Everyone has different approaches to trading/investing. You want to get your own conclusions and follow your plan and not anybody else’s. Best thing is create a plan and stick with it and let the market prove whether your right or wrong. In fact forums can be a dangerous place because many will get kicked off the path and find they always trying something new. This could lead to confusion and a negative effect on your account.

[Runner]

Thanks Runner.

Do you have an idea of potential short term target?
Next trail is Jan 29th.
Shadow, I see MRK’s last entry on 1/3/6 trigger line was 32.45. It would have hit my IPT and I’d scale out and trail rest. My style is short term and that is my take. See what I mean about different approaches.

[Shadow]

Runner,

I totally understand and agree with you.

This particular stock out of the 1000's out there
is the one I can't view without bias. I was looking
for some unbiased opinions because mine are where
this company is concerned.

Also, hard to use a trading style in this particular
account since my options are so limited.

Thanks for your input!

[Shadow]

Bringing this forward for us newcomers to ask
questions and learn from all the smart ones. :)

OK guys...... let's hear your wisdom and tips.
Bring it on. We newcomers are ready!

Shadow

PS: Hope this helps Gerihearne. :)

[spikefader]

Hi Shadow.

If I weren't so sleepy right now I'd probably search the forum and find some previous posts I've written on market wisdom as I see it ....... but I did find one of 'em. It's on discipline and it's windy....but I think it's worth readin'.
http://www.mrmarketishuge.com/showpost.php?p=23108&postcount=3799

There are plenty of clever folks here that offer great advice too. Remember the 'search - advanced search' feature is a really cool tool if you're looking for something specific. Put a few key words in and get it to list individual posts and presto.

Good luck in your search for truth and wisdom in the markets!

[ParkTwain]

I'm not going to comment on MRK's business prospects.

If you look at the recent chart, it seems to me that the stock has almost succeeding in changing the stripes it took on because of its drop in Sept 2004.

http://finance.yahoo.com/q/bc?s=MRK&t=2y&l=on&z=m&q=l&c=

Notice in this 2-yr chart that since that big drop the stock's price has risen back to the level of 35.00/sh as of May 2005. Then it fell back and now it is about to reach the 35.00/sh threshold again. This price level is called a "resistance" point because in this stock's recent past, its price failed to advance past that point (i.e., sellers become dominant and the price therefore fell and hasn't surpassed that point since).

This time around, if MRK's price can surpass 35.00/sh, you should see that (a rising overall stock market in the background will help as well) it has a better than even chance of rising further to around 45.00/sh, which is the price at which all the selling started taking place at the time of its big fall. So if MRK fails to surpass 35.00/sh in next couple of week, and especially if it reaches 35.00/sh +/- 0.5% or so, then falls again as much as 8% below 35.00/sh, at that point I would recommend that you exit the stock and put those funds elsewhere. (That behavior would indicate that in the near future the stock isn't ready to truly change its stripes. I don't know whether you're interested in waiting for a change in stripes for longer than the near future. If you're young, I would be more aggressive in making such decisions.) However, with a rising stock market at its back, I wouldn't be surprised when MRK surpasses 35.00/sh and on good volume to boot!

"If it ain't already going up, don't buy it."

[IIC]

Bringing this forward for us newcomers to ask
questions and learn from all the smart ones. :)

OK guys...... let's hear your wisdom and tips.
Bring it on. We newcomers are ready!

Shadow

PS: Hope this helps Gerihearne. :)

I'm serious...Buy stocks that are gonna go up...Sell stocks that are gonna go down...You won't always be right...In fact you may only be right 35-40% of the time...Key is to GET THE HECK OUT when you are wrong..."Hope" should not be in your vocabulary...Doug(IIC)

[Shadow]

Thanks for the tips and advice guys.

I need to improve my charting capabilities
and I am investigating my options.
What do you use and / or recommend?

Thanks all
Shadow

[skiracer]

Thanks for the tips and advice guys.

I need to improve my charting capabilities
and I am investigating my options.
What do you use and / or recommend?

Thanks all
Shadow
I like Stockcharts the best. I have used TC2000 in the past but like Stockcharts over them. I think that Stockcharts has alot more available info for people new to technical analysis and charting. Not sure if you can get a 1 mo. free trial or not but the Extra package is only $29.95 a month and that encompasses everything they have to offer in the way of charting services.

[diogenes]

Great, it looks like this thread is one for questions.

Anyhow, suppose we wanted to design a mechanical trading system that would be profitable for periods of around 3 months.

Now, the question is, would it be best to backtest over 3 month intervals (which would appear to make the most sense), or over a much longer interval (in which case I would have to program in an automatic sell after a given time period).
Also, any great stories of system building would work, too.

[Shadow]

I like Stockcharts the best. I have used TC2000 in the past but like Stockcharts over them. I think that Stockcharts has alot more available info for people new to technical analysis and charting. Not sure if you can get a 1 mo. free trial or not but the Extra package is only $29.95 a month and that encompasses everything they have to offer in the way of charting services.

Thanks for your input Ski. I've used their site for free
but have not tried a membership.

My broker should be able to give me better charting
capabilities but we are going around about that.
Their upper level software availability hinges on $
and/ or # of trades. Since I'm not an excessive trader
I don't qualify; 30+ trades per month. I have
another account I'm getting ready to move and
trade with but I need to improve charting first.

So..... do other brokers not have great charting
since you use outside sources?

[skiracer]

Thanks for your input Ski. I've used their site for free
but have not tried a membership.

My broker should be able to give me better charting
capabilities but we are going around about that.
Their upper level software availability hinges on $
and/ or # of trades. Since I'm not an excessive trader
I don't qualify; 30+ trades per month. I have
another account I'm getting ready to move and
trade with but I need to improve charting first.

So..... do other brokers not have great charting
since you use outside sources?

I trade with Options Express and they offer everything but not anywhere as good as Stockcharts or TC2000. Brokers are for trading and Stockcharts is for charting. I know Ameritrade's upper level trading package offers pretty good charting but not anywhere as good as Stockcharts. You might as well get used to spending a few dollars a month to get a good package other than what your broker offers. You're supposed to be able to make it back in profit.

[scifos]

Okay, this question is for you technical analysis guys out there. Some people swear by Indicators or combinations of indicators (using convergence/divergence, overbought/oversold, etc etc ) while other people say its all in the price action and that no indicator works. My personal opinion is that since indicators are derived from price and/or volume they are just a particular way of looking at price action, and perhaps a combination of these different views DO help.

What is everyone else's opinion on this??

[skiracer]

Okay, this question is for you technical analysis guys out there. Some people swear by Indicators or combinations of indicators (using convergence/divergence, overbought/oversold, etc etc ) while other people say its all in the price action and that no indicator works. My personal opinion is that since indicators are derived from price and/or volume they are just a particular way of looking at price action, and perhaps a combination of these different views DO help.

What is everyone else's opinion on this??

You see how many guys are posting their thoughts on differents stocks and setups. They are all based on their favorite setups which come out of whatever indicators provide that information for them. Of all the hundreds of concepts, theories, indicators that are circulating around out there, there are going to be a few that seem to work best for you. When you find the ones that seem to work best for you those will be the ones that you'll use the most to find those setups you like. You can call them or name them whatever you want to but they are the things that you look for and feel most comfortable with. What brings them out or makes them show up is the result of thousands of traders/investors buying and selling stocks which equals volume to some small or large degree. The more volume in one direction or another is what moves the whole ball of wax.

[spikefader]

Indicators Schmindicators! hehe

But seriously, I like to use indicators, and would 'swear by them' cuz I see them work every day. But when they fail, ya gotta appreciate what that means, and apply some discretion. Sometimes a trend day will cause failure after failure of an indicator setup. At some point you've got to say to yourself, "this indicator is not helping to anticipate price action" and is costing me money. At that point it's time to step away from it and reflect what the market is trying to communicate to you. And if one is not careful, it's very easy to fall into the indicator trap.....attaching too much weight to it/them.

Indicators are simply a unique way of looking at price and volume data and refecting that information in a different way. They use math formula to filter or average what appears in price raw data, and then graphically represent that to the user. They can be predictive, and when they're on they have a potential to make a lot of money.....but they are a tool and not a rule.

I think one major problem I see with indicators is they don't reflect support and resistance in a chart, nor how the volume relates to those levels. And those 3 things are much of what speculation is about. When looking at a chart you must be able to identify the areas where the volume is, and where the potential lines in the sand are. Show me an indicator that can do that? I've yet to see one, and would LOVE to see one that can do that.

If one can integrate indicators into the bigger support/resistance/volume equation then one is on sound footing. Certainly sounder than if one relies simply on the indicator.

[Runner]

Okay, this question is for you technical analysis guys out there. Some people swear by Indicators or combinations of indicators (using convergence/divergence, overbought/oversold, etc etc ) while other people say its all in the price action and that no indicator works. My personal opinion is that since indicators are derived from price and/or volume they are just a particular way of looking at price action, and perhaps a combination of these different views DO help.

What is everyone else's opinion on this??

I’ve been looking at just price charts as of late with the sector overlay and that is it. I don’t even look at the volume anymore. I’m not even using candles as I think bar charts show better orderly pullbacks then candles. Only other indicator I’ll look at is ATR, but this is just for r/r ratio and sizing.

Amazing how the mind can pick up things from just a plain chart without 15 million oscillators moving all over the place. The more I’ve traded the less I feel volume is important. Now don’t take this wrong as the stock needs to have some volume to trade and I recently like >200 or 500K Now this sounds crazy, but you have no clue who is buying or selling anyway. Why is it that stocks that bring in some heavy upside volume implode over the next few days? How can this be as volume increases 500%? I think some serious games are being played and they know how to manipulate things even as huge as volume flowing in and out.. I even think those jokers now how to manipulate the candles you see on your screen by adjusting the volume. As always just my take on it and who knows maybe I’m missed something here.

[DSteckler]

<< The more I’ve traded the less I feel volume is important. >>

Price usually follows volume.

[skiracer]

<< The more I’ve traded the less I feel volume is important. >>

Price usually follows volume.

My sentiments exactly!

[scifos]

Thanks for the replys. I agree with what spike said about indicators being a different mathematial way of looking at price action, and that the don't incorporate everything you want to look at. And use them as a tool, not a rule.

Interesting, Runner, how the mind can pick out the important stuff without all the fancy filters/ossilators etc. Even w/o volume!

[skiracer]

Thanks for the replys. I agree with what spike said about indicators being a different mathematial way of looking at price action, and that the don't incorporate everything you want to look at. And use them as a tool, not a rule.

Interesting, Runner, how the mind can pick out the important stuff without all the fancy filters/ossilators etc. Even w/o volume!

Not for anything, an I respect Runner an everything he brings to this forum, but I couldn't be more in disagreement. Volume is the key an it's what drives price. Earnings, new product lines, or any other news worthy items may drive people to a stock but it's the flood of people into an issue, the volume coming in or going out, that drives price action. And you can call an indicator whatever you want to call it. Whether it's the RSI, On Balance Volume, A/D, stochastics, Chalkin Money Flow etc.... or any chart formation like Ascending, desending, symetrical triangles, all the Elliot Waves, Fib. lines, RAFF channels, etc.... They are all indicators an give an indication or signal that something may be happening or is going to happen. So the label is just a label but the true meaning is that whatever it is that you may be looking at or for is giving you an indication of something or for something. Unless you're buying long term and putting them in the safe deposit box and forgetting about them indicators, chart patterns, volume don't have that much bearing on your investing. But if you're trading short or intermediate term an looking for moves they are all significant to the outcome with volume being the main force to substantiate the moves. Of course anyone can do it anyway they want an if they are successful without using any type of indicators or following volume flows then all the more to them. But I would venture to say that if you were to question any professional trader about what drives price an their answer will be volume first.

[diogenes]

Interesting, Runner, how the mind can pick out the important stuff without all the fancy filters/ossilators etc. Even w/o volume!


I think the ability to see patterns that are not there goes way back to the "cave man days." As for volume, I would guess it means something if you want it to (and maybe it does anyway).

[Runner]

Here is a huge volume mover (not) ATEA check out this little gem
http://img115.imageshack.us/img115/9132/atea9vy.png (http://imageshack.us)

[Runner]

So here is my question can you argue with the set up that I posted on ATEA?

[skiracer]

So here is my question can you argue with the set up that I posted on ATEA?

Runner,
I'm not sure if you're saying that the
volume doesn't matter or if it does matter. But here's the weekly of ATEA and there is a justifiable difference in the movement when there is a heavier volume present. Wouldn't you have to agree from the charts perspective? Plus look at the spike up on heavy volume spike in May 04

http://img103.imageshack.us/img103/4599/atea2gk.jpg (http://imageshack.us)

[Runner]

Ski, I can’t disagree with you and I know volume moves price, but I just don’t pay much attention to it and in all honesty I do not look at it. I think the trend is move important then volume. Yes I know volume moves the trend. Back in my O’Neil days I thought everything about volume and man did I get my head handed to me keying in on all the awesome volume. I forgot one simple thing. In choppy questionable markets (like current conditions) Volume can mislead one into thinking a stock is taking off to the moon. Ya’ll have experienced this, up 5 points today down 7 points tomorrow. I do think the specialist and MM]s can fool traders. Ya see we got some uncertainty happening in the markets right now. The battle has been going on for about a month and I see the Bears slowly defeating the Bulls. This is why IMO if one trades long it should be for a day trade. Or possible overnighter. I know someone can prove me wrong and that is great, but we all have a bias of the markets.

[spikefader]

Support, resistance, and volume dudes! That's what drives price! But it's more complicated than that. Let's drill down on how those 3 things must interact to move price around. Only got a few mins right now, so I'll keep it brief and add more if I think of anything worthwhile later.

Ya got buyers, sellers, and the volume. Ya got different TYPES of orders presented to the market. You might have huge volume at the bid, and smaller volume at the ask, and despite logic saying that price must surely go up because of that, price may just sit there all day without price rising. Why? Because the bidders don't chase the ask. The sellers might be hitting the bid all day and price stays flat. There's no high volume interest in the ask, and price stalls.....There is just no intention to chase the ask! But the moment current bidders or new money in the market are prepared to hit the ask (cuz they just want to own this stock NOW), then THAT's when price will move. The asks get exhausted by the sheer volume and interest in the asking price, and boom, up goes price to the next level of asks. That level gets depleted and boom up to the next level and so on until all the ask hitting buyers disappear. Then it's a matter of how many bidders and their volume that will determine price direction....Sellers will start hitting the bid to get out, and the bid will only last so long, until the bidders are exhausted, then bingo down goes price to the next bidding price. It's not rocket science...it's just intention of buyers and sellers, and how much volume is there to saturate or be exhausted. It's that interaction between the type of orders TOGETHER with the volume of orders, and the order type that affects price movement. What is reflected on the chart insofar as volume may not tell the true picture of intent. Ya gotta find things that will show you that intent. That is the key to determining or anticipating price direction. And if you can work out that intent at places of support and resistance, and you can anticipate that intent, and trade around those areas in a disciplined fashion, then get ready to celebrate! :D And that's what's great about patterns over indicators (they are distinct from one another in my view)..because patterns do reflect intention of market participants at key points. If you were to study what causes the shape of a Head and Shoulders formation, or a double top, or a triangle, then you'll understand why pattern are so good. The reflect expectation, intention, weakening support and strengthening resistance. They help work out where the money has a potential to go. Now of course at ANY time there may be an event that causes buying or selling contrary to the pattern, and that's just market forces dominating what currently exists, and thereby creating a new chart action. A failed pattern will soon form into another dominant pattern, and it will be seen whether that pattern will come to fruition, or whether market forces will break it and open the door for market action that is independant of what the chart can possibly show or anticipate.

What drives price? It ain't volume so much as the intent of that volume. For price to move up you need people to hit the ask. For it to move down, you need it to hit the bid. And what causes people to hit the ask? Perhaps a break of resistance, perhaps price falling to key support, perhaps news, perhaps just cuz I gotta go take a pee and can't wait at the bid any longer, perhaps I got 50,000 shares to buy by lunchtime. It may not be rational, and yet it may be. Ya never know WHAT's going to happen. Ya just gotta draw your lines in the sand and trade the plan. Hopefully you'll put support and resistance areas in your favor and make a buck doing it.

[skiracer]

Of course the intent of the volume is what drives the price up, down, or makes it stay flat but it is still volume that is the motivating prime factor. What comes first volume or intent of volume or which is a by-product of the other. My own feelings are that everything else comes off of the volume and how the stock reacts to the intent of that volume. That gives you support and resistance lines and drives every other signal, chart formation, or indicator off of the results of that influence and the changes in it.

[spikefader]

...volume that is the motivating prime factor. What comes first volume or intent of volume or which is a by-product of the other. My own feelings are that everything else comes off of the volume and how the stock reacts to the intent of that volume. That gives you support and resistance lines and drives every other signal, chart formation, or indicator off of the results of that influence and the changes in it.
I think the "motivating prime factor" that drives price in a market is perception of 'value'. Something is only valued as high as someone will bid for it, and markets WILL find the true value of something eventually. But then just when it does, or while it's in the process of doing it, something happens, whether it's news, or a MM fat-figered order entry, or a moment of irrationality caused by a big holder or big buyer, but whatever it is that happens, the valuation of the thing changes in the perception of us knuckleheaded humans, and market forces, the battle between buyers and sellers changes ground, and the market will seek equilibrium again. But the fact is, perceived value is so unmeasurable to you or I. It's a subjective thing. And because of that, thus is born speculation.

So does massive volume drive value? I guess there's two kinds of volume in the equation. There's bid volume underneath price, and this could be imaginary or illusionary. Large traders regularly 'flash' bids below the top bid when they have no real intention to buy that quantity. And then there is traded volume. How is one to know whether that traded volume is a big seller unloaded a huge position with a boat load more shares he's trying to sell into strength...and how is one to know whether the high volume traded is simply a MM churning volume to make it appear like there's interest in a stock, only to be setting up to dump and short into the bullishness they may encourage. The answer is no-one can really rely on volume being a true indication of direction. Yes, volume is integral in price movement, but I don't think high volume while price is rising guarantees continuing upward trend. No-one can boast the absolute ability to know for sure how that volume is being manipulated and directed. Sure, you've got brilliant 'tape-readers' who have an ability to sniff out the bias, but even the smartest dude in the world is gonna be deceived or mistaken. It's a matter of who is driving the move, and what their intentions are. Sometimes it's a clear as nose on your face; volume is acting in such a way that it's unmistakeable. Often I'll see raw data action for futures or stocks that is unmistakeable bullishness.....other times, bearishness. But how often do you really see that in today's market? And what about the slow times in between? It's during low volume and quiet times, where you've got big pockets that can manipulate price and fool even the best tape-reader.

So the element of volume is hugely complex, and I don't think pure volume drives price. Does price even follow volume? Perhaps it does. But it's a relative assessement. If massive volume enters a stock on a breakout, it's pretty clear what's likely going to happen. But it'll hit resistance or exhaustion at some point, and then it'll be a question of what now? And this is why buying at resistance is so dangerous, and why buying at support makes so much sense. Yes, you might get lucky if you recklessly follow volume and chase it. But ya gotta be careful, cuz the minute after you buy may be the time when big dog says, OK, time to unload a bunch, and it turns your entry into red hope if you let it. You may say, Oh it's OK, look at the volume, I'm safe so I'll set a 20% stop on this.....and then you see that huge volume that looked so good turn into exhaustion and trend changes direction on you.

And this is where patterns come into the equation. Most patterns are closely associated with support and resistance. When pattern support fails, it is relecting a potential. Sure, it may fail, and that means something too. Likewise when pattern resistance fails.

And as for indicators, where do they fit into all of that? Do they reflect support, resistance, pattern failure, market volume depth and volume? Some may attempt to, but how accurate is it? Perhaps interpretation of those indicators is the key. What does a divergence in CCI to price really mean? Is that reflective of value of an issue? No....it's merely a graphical representation of historical data that may be cyclic and designed to provide 'signals' or areas of likely resistance? I don't know, I think I have to think more on it. hehe

But it's a fascinating topic anyway.

[scifos]

Oooh, I sparked quite a debate...

[skiracer]

Spike,
I agree with you that it's a great topic for discussion. Even when I disagree with some of your concepts I always enjoy reading your posts. You always offer a number of interesting points and perspectives to consider as alternatives to what I may be thinking. I don't want to sound like I'm coming off as condescending but it has to be good fodder for the less experienced traders to read this type of stuff. It's the kind of topic that they may not be thinking of yet in the early stages of their trading careers. Has to be a positive effect to take all this into consideration. Anyway it is a great topic an personally I would like to hear from some of the other regulars about how they feel on the subject. No need to let egos run off but just to voice an opinion if you have one. I'm not going to put out any specific names because if I don't mention someone they might get slighted so there are alot of people here who trade regularly on a daily basis. You must have some views or feeling about all of this volume, price, an indicators stuff. Lets get some opinions and views on the topic.

[Lyehopper]

Oooh, I sparked quite a debate...
You're pretty good at that dude....lol

Hey Scifos.... One day my Avatar's gonna jump your Avatar when he ain't lookin and just whoop his a$$....LOL!

[spikefader]

Yeah ski agree entirely. I always enjoy reading yer posts, and anyone elses, even if I happen to have another slant on it or disagree. The way I look at it.....it should be "egos at the door", and bring constructive thoughts forward for sharing....and any topic of discussion is exactly that; a topic of discussion. If it's thought-provoking and it brings new perspectives to the table, in a respectful manner, then it's all good. And I pray that anything I say with passion is taken in the light it's delivered; and that is with a demeaor of goodwill and intent to share and encourage and get to the truth of the matter. Cuz the bottom line is we should all try to help each other improve. Tradin' is way too hard to make this about one-up-manship at the expense of someone else's opinion.

And scifos, kudos for asking the question that prompted those thoughts. I don't think it's a debate.....just healthy discussion. And Shadow, thnx fer startin' the thread.

Lye, every time I look at your Avatar I think of Webs hehe. The Vulcan. I remember the day Webs came up with that one; and it's very very apt. I hope he never discards it. Shoo, how can he; he's named a system after it lol. I can't wait to see it actually....

[scifos]

You're pretty good at that dude....lol

Hey Scifos.... One day my Avatar's gonna jump your Avatar when he ain't lookin and just whoop his a$$....LOL!

Oh come now, everyone knows your avatar wouldn't last 3 seconds against mine.

[AudiQuattro]

This might sound nuts, but I like the basic free charts like those at clearstation.com and bigcharts.com for swing trading and position trading. In a longer time horizon, too many bells and whistles end up just being noise. Relying on the most powerful charting tools might give you a false sense of security.

[gerihearne]

Does anyone know of a place, website? that i could go to find stocks that have recently split? Sort of like a list that the bank has of foreclosed property ... does such a think exist?

[New-born baby]

Does anyone know of a place, website? that i could go to find stocks that have recently split? Sort of like a list that the bank has of foreclosed property ... does such a think exist?

CCJ splits 2:1 after the close Friday.

And no, I don't know. Ask IIC. He knows everything. Really.

[Shadow]

Does anyone know of a place, website? that i could go to find stocks that have recently split? Sort of like a list that the bank has of foreclosed property ... does such a think exist?


Hope this link helps; gives earnings release and split dates.
http://earnings.com/highlight.asp?client=cb

[IIC]

Does anyone know of a place, website? that i could go to find stocks that have recently split? Sort of like a list that the bank has of foreclosed property ... does such a think exist?

There are many of them.

Here is some: http://www.2-for-1.com/recentsplits.html
http://news.stockselector.com/briefs.asp?brieftype=Stock%20Splits


Upcoming:

http://www.investmenthouse.com/splits.htm

Possible:

http://www.rightline.net/splits/candidates.html

[DSteckler]

Here's another split site:

http://www.earnings.com/split_full.asp?date=20060215&client=cb

[Runner]

You guys got me curious about this volume stuff. I wrote a real simple chart overlay that shows today’s volume % change and also last 5 days. Not sure how to interrupt the indicator. I took BOOM as an example. I’m showing today’s volume was 30.66% less and 5 day was 46.79% less. This stock also has been drifting up. Heck I’m even wondering if it might be a short.

If I understand this correctly when a stock drifts up on low volume it should be a negative thing?

[DSteckler]

<< If I understand this correctly when a stock drifts up on low volume it should be a negative thing? >>

Yup. Price follows volume.

[Runner]

Thanks Dave that is what I thought..

Here is a simple trading system you might want to look into.
Set chart to channel 50day Lin regression.
Overlay with a 4-day simple moving average.

Buy signal LinReg slanted upward and price at bottom of channel. Go long on 1st day 4DMA is below price. Sell at top channel or when 4DMA crosses above price. Short works same way from top channel. Not sure if this classifies as a mechanical system or not but you must agree it is simple

Hear is an example:
Lower channel buy and sell at upper channel or 4DMA cross
http://img115.imageshack.us/img115/2069/linreg3ss.png (http://imageshack.us)

[spikefader]

....Here is some....uhhm, I fink it's here "are" some. nyuknyuk!

[spikefader]

when a stock drifts up on low volume it should be a negative thing?If a stock is trending down generally, and then price drifts up on low volume, that's indecision to the bullishness, which is a bearish thing.....BUT when price trending UP, a low volume pullback is indecision to the bearishness, which is a bullish thing. I think the general trend is key. But what about in a sideways trend? Are low volume moves bullish or bearish? I can't decide cuz I'm too indecisive! hehehe
Price follows volume.
I think that is only partly true....
I think its true that volume follows price too.
So a complete statement would be:
"Price follows volume, and volume follows price".

[IIC]

uhhm, I fink it's here "are" some. nyuknyuk!

I know Spike...I hate to Rain On Your Parade...But Mr. Grammar makes a mistake now and then...IIC

[Runner]

Spike, I like your explanation on this volume thing and it just makes sense to me.

thanX