Catching the falling through butter

Discussion in 'Journals' started by iriekity, Dec 23, 2003.

  1. iriekity


    I am going to start a journal of a strategy I am trading live. I am selectively buying (going long) stocks down 9-10 days in a row and looking for the turn. Buying on 75% Pullback from lows and the stop is at new lows. Here is what I am in right now.

    From last Thursday

    From Friday


    Will keep all posted
  2. How is FMKT a stock that is down 9-10 days in a row?

    disclosure - I am long FMKT from 5.64, as I think it has put in a bottom. The action today is nice, as it breaks above the 34DMA and a three day high. I am not "flaming" you, just curious as to how this fits into your parameters outlined above.
  3. iriekity


    I realized after posting that I had gotten in FMKT from a different strategy, but not the one I am posting for this journal. I still like that trade it is just not in this exact fit. Thanks for catching that.
  4. Thanks - looking forward to your journal.

    One last question - how do you calculate a 75% pullback from the low - don't you have to have a swing high for that? Do you just use the most recent?
  5. iriekity


    I use an alerts software that I have mentioned on this forum before, it gives me 75% pullback from lows. The lows are of the current day. I set it to watch the stocks that are down 9+ days in a row. I pull up the stock when I see the alert and make a decision as to what to do. I have been able to really get some high % returns so far so that is why I decided to put some of this in a journal for others to see.
  6. iriekity


    Out of LNCR on new lows
  7. I'm not following you on the 75% pullback from lows either. Please explain exactly what you mean.

  8. iriekity


    Here is the best explanation directly from the help and I use it just like that.
  9. OK, thanks.

    This has gotten to be a popular strategy lately (there is another thread here on ET all about these types of oversold stocks), so I have to wonder how long it will work. There's a lot to be said for catching short-covering rallies, but timing is everything and there are many head-fakes.

  10. iriekity


    I will be looking at BFUN and IUSA
    #10     Dec 25, 2003