Do you happen to know the name of the guy that published Leader of Macd...err...the guy that designed it?
To retire45 and others that use MACD. Do you take your entry signal off MACD? Or do you take it off price action? In other words, do you wait for MACD to confirm the signal, since MACD will almost always lag the price.
Arnie, The ONLY indicator, if you can call it that I actually use in scans is a Moving Average.. All others I see as simply a guide.. So price always first... THE best way to use MACD is as you assemble stocks that have low MACD conditions, either set buys at supports OR draw decsending trendlines, setting buys just above.
LONGS: Mainly AG's AGU 103.75 CF 161.00 TRA 48.31 IVN 11.64 FFIV 33.07 SHORTS: Mainly Shippers DRYS 74.39 TBSI 34.71 RYL 21.5
I can understand the long of BRCM/SVNT/GW, but CLR? Could you explain a bit more of its setup? Thanks again for your great posts, keep it up and good luck!
It is not a setup just a try at fishin'.. If you look at an Hourly on CLR I figured 75 (in at 75 even) should survive.. It briefly didn't and still may not if Oil's rout continues tomorrow though Bernanke's prior speeches have done nothing lasting against oil.. That said I was very close to shorting some Oil stocks as plenty flags like EAC's abound but the overnight upside risk in Oil is terrifying until Iran is over and done with.