Some applications in leading stocks

[nickola.pazderic]

Hi Buzzman,

I don't have software to calculate support and resistance clusters. Apparently, Billy and Pascal do. And it seems a very valuable tool. No wonder they keep it to themselves.

I'm not certain about the IDX chart to which you refer. But, I know that the SPX peeking above the 20 period SMA on a monthly chart is proven by the primitive backtest method of a 20 year chart to be very bullish. I don't think the move up is over.

Today, HANS pulled back to the WPP, and I bought two more pieces. The stock took off. So far, so good.

As for an exit, this is a "Big Stock". Thus, according to CANSLIM, I should hold out for 20-25% profit. I could also exit on a break below the 50 day SMA because the stock has held it for many months.

Cheers,

[asomani]

But, I know that the SPX peeking above the 20 period SMA on a monthly chart is proven by the primitive backtest method of a 20 year chart to be very bullish.

As Billy posted some weeks back, from Rennie Yang:
"Historically, crosses of the 20-bar average on the monthly S&P chart have proven to be more reliable than crosses of the 200-day average. Out of 24 signals since 1950, note that only one led to a meaningful loss when the signal was closed out, and even that was less than 10%. By comparison, there were fourteen signals that generated a profit of more than 10%."

[nickola.pazderic]

I'm not surprised that this has appeared previously and that Billy knows it well.

As I've noted previously, I have improved as a trader vastly with the help of him and others here. It is for this reason that I venture, perhaps foolishly, into the exchange of ideas. From the give and take, I now feel the earth become a little more steady under foot.

Also, please note that Paul Duncan has had HANS firmly in his sights for some time:

[buzzman]

Hi Nickola,
Looks like you have thought it through well. I was referring to the IDX entry in your 4th chart above from you post today. It looks like something from Maxime's pivot point calculator that Billy referenced for me. The url is http://bit.ly/hQdjAs

Are you familiar with it? It is free and I have copied it into excel but haven't been able to make it work yet.
Buzz

[nickola.pazderic]

1. save the link to my favorite's bar.
2. open the link when necessary
3. log in to gmail/google
4. open the "file" tab
5. click make a copy
6. it will ask what to name it: any name will do
7. once you have saved a copy, you can input any ticker and, voila, pivot point data appears.

cheers,

[buzzman]

Thanks for the info.
I'll keep trying to make it work. bz