Plan B is to use the macd as a backup directional signal (since it only uses closing prices, not intra-day highs and lows, and so wasn't poisoned by the panic), and to 20-day moving average (of closing prices) as a trend strength indicator (also direction).
These meet my criteria for a bull play, but I don't like the trend indicators.
The macd in all cases is below zero (although rising) and the price is below the ma20, which is downward sloping: AMZN (the price came close to touching the ma20 before retreating sharply), CENX, MSFT, RON and VZ (touched the ma20 and retreated).
RON was one of the stocks that fell dramatically during the panic of May 6: The high was $11.13, and the low was 5¢. The psar on this issue means nothing.
These stocks are insufficiently trending: DOW, GLW, IWM, MLD, MRO, Q, STLD, T, TNA and TSM.
One stock, KR, showed a bull signal and moved up sharply on news of a union agreement.
Martin Pring's detailed deconstruction of the economic cycle: What sorts stocks to look for at each stage of the recovery. A masterful analysis.
Skynet Panic of May 6
Panic Looks Like This
Skynet Panic Poisons Technical Tools
New to private trading? Here's a look at How to Become a Private Trader.
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