:eek: What's a shill account? This is a serious discussion about the system outlined in that article. If you want to talk naked girls, Please take it elsewhere. No need for it here. thank you
Here is an example of the entry part and a lack of exits being defined. Entries that are too early will get stopped out. In the pattern they get stopped out on the 2R that ends the short trend. As noted in an earlier post, the entry is a little early usually by using step two information. Entries are shown as elipses where the green numbers appear. All would not be the best timing available. In the example a simple BO system wolud work better since no stop outs would occur.
Mr. jack, Thank you for the keen analysis. However, everyone of your ovals do not have the required 5 days down prior to a buy. I am not sure what those power ratings figures mean--- but I think that is only one step to the 3 step system in the article. What am I missing? Thank you, Charlie
This is marketsurfer's vending operation and I couldn't resist the humor. It made a nice foil for discussing how entries and exits have to be timed according to a pattern for position trading. To make money it is not a good idea to enter in the middle of a short. It is better to enter at the end of a short. The example picked for the web site looks like what is call a climax run. trading long post climax doesn't make much money for anyone.
I am not talking about anything other than the 3 step system for finding stocks for short term gains. There is lots of paranoia about this, why?? Does this system really work? Some on here say it does Gains are for 1, 2, and 5 days later after the 3 steps in the system have been triggered-- the 5 days down, the RSI and the high PR-- whatever that is. Has anyone monitored these stocks or actually traded them to see the real results?
PIR is a current choice of marketsurfer. My comments on the three steps lead off the conversation. They need tweaking is the short answer. They will make money with stops BUT the trader has to put some additional protection into his picture. The additional protect involves market variables and using a routine for trading. Past back testing is where the inductively based numbers came from. You can see that they are offset from the patterns of the stocks that they are applied to.
Yes, that makes sense. I know the PIR was listed in the article--but shouldn't we wait the 5 days to see if its higher than it closes today before making conclusions that the system does not work this time? ( it is actually up on day slightly) I googled Marketsurfer. I see he was interviewed here on elite seven years ago and has a blog. Does he follow the 3 step system? SOme kind of TA guru i guess. http://www.elitetrader.com/ch/transcripts/marketsurfer_chat.cfm Do you have a newsletter or book, Mr. jack? I would like to read more about your ideas. It seems easy enough just to program that simpl3 step system, run it on the universe of stocks to locate those fitting the criteria to see if it works or not, once and for all. right?? Thank you, Charlie
Can you detail the protection package that you reccomend being applied to the 3 steps to locate stocks ready for short term gains outlined in post 1 on this thread, thank you
Shill or not, this was the worst thing you said in the thread. Now I am wondering whether you are just an alias of Jack... Jack is a newbie-eater. If not convinced, then spend 800+ hours reading his rambling, unfounded nonsense, and see what the experienced users and some newbies who finally grasped the futility of his prattle. Or, you could just avoid him.
These guys are now saying to reverse the 3 steps to locate stocks ready to drop--- i am going to monitor the 3 names to see if there is anything to this system both bearish or bullish The first and most critical step is to only look at stocks trading below their 200-day Simple Moving Average. This assures that the stock isn't in a long term uptrend that may likely continue. The second step is to drill deeper into the list locating stocks that have climbed 5 or more days in a row, experienced 5 plus consecutive higher highs, or are up 10% or more. Yes, you heard me right, stocks that are climbing. I know this flies in the face of conventional wisdom of selling stocks as they fall further. However, our studies have clearly proven that stocks are more likely to fall in value after a period of up days than after a period of down days. The third and final step is a combination of whittling the list down even further by looking for names whose 2-Period RSI (RSI)2 is greater than 97 (for additional information on this proven indicator click here) and the Stock PowerRating is 3 or lower. The Stock PowerRatings are a statistically based tool that is built upon 14 years of studies into the inner nature of stock prices. It ranks stocks on a scale of 1 to 10 with one being the most volatile and most likely for short term drops and 10 proven to be the most probable for gains over the next 5 days. The stocks that fulfill each of the above steps have proven in extensive, statistically valid studies to possess solid odds of dropping in value over the 1 day, 2 day and 1 week time frame. Here are 3 potential bears ready to drop for your consideration: Seabridge Gold Inc ( SA | Quote | Chart | News | PowerRating)