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Well, since nobody seems to be posting picks, I have a couple of filters that spit out downbeaten stocks,candidates for 2-to-5 day swing trades. Prices are today's closing prices:
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I decided to update my list of prospective stocks to delete OTCBB stocks, but to include stocks up to $5. These are very oversold stocks, and I've found that they are better buys when they make the list a second time within a week. The new list :
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Well,it was a tough day for the markets. It was like salmon swimming upstream.This is my assessment of yesterday's picks :
DPH .... did well,gaining over 15% on big volume. May bear watching in the morning for continuation.
SONE...one of the three losers,may be close to the bottom, but no firm sign of reversal yet.
ECR.....no sign of reversal.
DMAX....of the three losers, seems closest to an imminent reversal.
These are my opinions only. Although they are not part of the initial filter,I use Stochastic(5,3)and Williams %R to look for a reversal. Other opinions are welcome.
Posts: 217 | From: Texas | Registered: Jun 2003
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posted
Tonight I'm posting three more picks to see if there's any interested readers. These picks are from a scan for stocks that have been in an uptrend but have pulled back to at, or near,their bottom linear retracement line.
CPST....4.39. A little while ago, TV guru Cramer pounded the table on this one. It was around $5 at the time, and quickly rose as he was speaking, since he said that it would go up to $20.
NXXI...1.04 .Almost every day I get an e-mail from a website promoting this stock, forecasting a great future for it.
MII...2.10. Don't know much about this stock, just that it has been in an uptrend and has pulled back.
Posts: 217 | From: Texas | Registered: Jun 2003
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WHO? Picking these is a lot of fun. I used to do it alot when FST was here, not that him leaving had anything to do with it, I just don't have the time I used to. But I will try this weekend to come up with some. I picked API a few weeks back, and it ran great, see my previous posts.
TRINC ran great, but now.......who knows.
Later Budman
Posts: 347 | From: Kansas City, MO, USA | Registered: Jun 2003
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Since Art, too, seems to have disappeared, I'll post tonight's watchlist of stocks seeking a bottom. At least,posting them here makes them easier for me to track than in a notebook.
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Poor Art, overwhelmed hisself by all the posting and updating of picks. ( A thankless job) Thanks Art for your honest attention given without expectations.
-------------------- TI AKERS , WHERE ARE YOU!!! Posts: 899 | From: FT. Wayne to Raleigh-1986 | Registered: Feb 2003
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I am watching NWACQ, northwest airlines. any hint of recovery and this can run. went from low .60's earlier this weeks to the current .71. Swing trade this to 1.00 or more.
Posts: 347 | From: Kansas City, MO, USA | Registered: Jun 2003
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posted
Budman.. You may well be right. Airline stocks are at a ridiculous low price. I don't know how far they can recuperate until oils start coming down,but they are due for at least short-term bounces.
Posts: 217 | From: Texas | Registered: Jun 2003
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posted
DPH took off this morning at 10:30 , went to 3.53. Settled at 2.76. Still , a worthy buy, in my opinion, I think they have troubles, but are still a contender and worth alot more.
-------------------- TI AKERS , WHERE ARE YOU!!! Posts: 899 | From: FT. Wayne to Raleigh-1986 | Registered: Feb 2003
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Yes, practically all beaten-down stocks have troubles and most will bounce only temporarily for a few days. I think that, particularly in low-priced stocks,there are more short-term traders (or day-traders)than long-term and they take any profits quickly,causing the price to go back down. Actually, this seems to happen to low-priced stocks that are in an uptrend too, and mental, or other stops, of less than 10% are easily hit.
Posts: 217 | From: Texas | Registered: Jun 2003
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posted
Actually, the best swing system for low-priced stocks seems to be something like FST used.The most profitable systems seem to be to "average down". As those of you that read this board in FST days remember,he would use only a portion of his money at a time, and buy more if the stock fell more.About the only stocks he would avoid were those going into bankruptcy. I have played around with many filters, and the most profitable are ones based on stocks with a one-day drop of 15 % or more. Then if the stock drops more, averaging down. I know many experts advise against averaging down, but it works in low-priced stocks. It just takes a little confidence that the stock will soon bounce enough to be profitable, which it will do most of the time.
Posts: 217 | From: Texas | Registered: Jun 2003
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I mentioned CDSS before at slightly higher price, but it may now bear closer watching: It is at a 3-month low, but Friday's low was higher than the previous day's low. The reason it may be ready to reverse to the upside is that it says it received a $2.4 million government contract.
Posts: 217 | From: Texas | Registered: Jun 2003
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I am still liking the possiblility of NWACQ. Really getting tight, oversold. It's a "Q", but the potential reward here might be a good reason to watch this puppy....
Posts: 347 | From: Kansas City, MO, USA | Registered: Jun 2003
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ADZR Going to add a few shares at.05-.06 range in hopes of at least a quick double. If not will hold long. Starting to get a few small contracts and hopeful larger ones will follow. Vol spike today on news. Should get back to .10-.15 range. A 10 bagger if they land a big contract. Imo
Posts: 758 | From: FOREST,MS | Registered: Feb 2005
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I ran a quick check on the stocks I listed during the last couple of weeks, and I must admit that, if held during all that period, the results wouldn't have been very good. Oh,a few did ok,but the gain/loss record would have been less than 50%. There seems to have been several causes for the mediocre record.Probably the main one was that I was anticipating a rally of the declining stocks too soon, so I'll have to wait longer until there are more solid indications that the declines have stopped. Also, the Nasdaq may have, at least temporarily, topped out. The last high was lower than the previous one. The oils and gold are going sideways, although semiconductors and biotechs may be waking up.
Posts: 217 | From: Texas | Registered: Jun 2003
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In general, today wasn't a good day for the markets. The four main indexes, I look at, are pointing down. I sold my last two remaining stocks this morning, and plan on waiting until the market indicators improve.It may take a couple of days,or a couple of weeks, who knows.
For information only, I use ASK Research (free) to look at charts. There are several other free chart sites, but I like this one because of its simplicity. Also for information only, my three main indicators, for stocks or indexes, are : Stochastics (10,5,5) Williams %R (20) MACD (3,6,2) Don't ask me why I use those settings, they just seem to work well for me. You can try them on the indexes listed under List of Major US Indexes and see what I mean about their direction.
Posts: 217 | From: Texas | Registered: Jun 2003
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Today's markets did a little better, but nothing to brag about. But maybe the indexes may be close to some support. I'm NOT ready to buy any of these stocks at the OPEN Monday, but they may be worth watching. Personally,I like to wait to see what the markets are doing on the particular day.If they are doing ok, then I check the stocks on my list to see which ones are in the green (but not too much)with pretty good volume. Nevertheless, for those that like to look at charts of stocks that may be ready to bounce, this is my list :
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Golf57 Although I don't buy penny stocks, I did look at the chart of TWOG with MACD (3,6,2) and Stochastic (10,5,5)settings. I don't know if those settings work well with penny stocks, but TWOG does seem to meet the criteria of the MACD crossing up through the 0 line, and Stoch %K crossing %D. Aside from that, I've always been a little wary of predictions that any particular stock "COULD" be a "XXX" bagger.
Posts: 217 | From: Texas | Registered: Jun 2003
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posted
I've been reluctant to mention any low-priced stocks to buy because of the bad market conditions. Practically all the indexes have been going downhill. Historically,the next couple of months have been bad. In such cases, improvements have not come until sometime in December.
Out of curiosity, I ran a couple of scans :
Price between 1 and 10 RSI (10) between 80 and 100 Average volume (90) above 100000
Result : 1 stock (ADST )
Then I ran the other scan, similar to the above, except RSI (10) between 0 and 20.
Result : 81 stocks.
What this indicates is that the majority of "long" players have been taking it "on the chin" lately.
I'm no market expert, but it may continue that way. With the news predicting a rise in gasoline, electricity, and gas,the Average Joe may be bracing for this winter and cutting back unnecessary expenditures. Maybe the sales of blankets and thermal underwear may improve though.
Posts: 217 | From: Texas | Registered: Jun 2003
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quote:Originally posted by abram: DPH took off this morning at 10:30 , went to 3.53. Settled at 2.76. Still , a worthy buy, in my opinion, I think they have troubles, but are still a contender and worth alot more.
OUCH!!
-------------------- TI AKERS , WHERE ARE YOU!!! Posts: 899 | From: FT. Wayne to Raleigh-1986 | Registered: Feb 2003
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MSPD has pulled back during an uptrend and is close to the MA50 line(at 2.00). It looks like the pullback may be about over.If it goes above 2.07, it may well run up to about 2.30 short-term.
Posts: 217 | From: Texas | Registered: Jun 2003
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ONT has pulled back after a month-long uptrend and is close to its MA50 line (0.71) and bottom linear retracement line (45). There's also strong support at about 0.67. Once it turns up,resistance is weak up to its recent high in the low 0.90's.
Posts: 217 | From: Texas | Registered: Jun 2003
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Another stock that has pulled back from an uptrend. Support at 1.88 and MA50 at 1.86.
Resistance at 1.97
"Mad Money" Jim Cramer sounded bullish on JDSU, so that may be a drawback. I don't think his TV show track record has been very good lately.....probably like most of us.
Posts: 217 | From: Texas | Registered: Jun 2003
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