Steve, I am not much interested in you defending your results, but I am interested in examining the basis of your approach. I posted two messages on Sept. 19 to which you have not responded. Please review them for detail, but in essence they are: Your method was developed long before daytrading achieved its current popularity. How have you adapted your approach to respond to this? Why is it better to define the trading range limits as the high and low in place at the time of one float turnover, rather than on the basis of the support and resistance that naturally defines a trading range without regard to float?
I signed up for your free trial and am following your recommendation. Also ACS is going lower but I don't see the float change as of yet. Thanks ~EC
Dear Dufferdon, I think the stocks that day traders are following do not lend themselves as well to float analysis because of the obvious distortions that their activity creates in the volume count/floating supply relationship. It's my understanding that day traders play the big float "generals" and not small float "pawns". I only focus on the small float stocks as this is where I have found that float analysis is most powerful. In regards to your second question. I not sure what answer you're looking for here. Float turnovers don't do away with support points found in traditional technical analysis. Float turnovers and their analysis lead to an expanded definition of them. Please refer to the fourth chapter of my book which is called "Support and Resistance - Redefined". Please read this as I don't want to have to write the whole chapter over. Best regards, Steve Woods
Hi Steve, I was the one who asked you about an audit. Why don't you tell us your initial investment, and approximate yuor returns for the last few years, until the audit is complete. To get an audit, you goto ANY REPUTABLE accounting office, and they will be happy to audit your returns (that's why they are in business). Good Luck, Sam
Steve You wrote: >>....................................................... It's my understanding that day traders play the big float "generals" and not small float "pawns". I only focus on the small float stocks as this is where I have found that float analysis is most powerful. << could You please put it in numbers? what float numbers are You considering high or for You personally untradable? best of luck eli
<i>Please read this as I don't want to have to write the whole chapter over. </i> A brief summary would do.
Steve, I have to admire your patience. I sent for your book this morning. Will post comments after reading.
Dear Elie, I define small float stocks starting at 1.0 million shares and going up to about 100.0 million. These numbers are totally arbitrary on my part. It's just that these are the kind of stocks that have made me money. Understand though that what I look for also includes a fairly rapid turnover. If you have a stock with 1.0 shares that had one turnover in the last six months I wouldn't look at it. I like them turning over around every 15 to 40 days. By the way, I am a regular guest on Tom O'Brien's Tiger Financial News Network and on this morning's 9:00 pre-market show I talked about 3 stocks that have recently been mentioned in my newsletter. They show the kind of examples I like follow. I posted them at the bottom of my home page at http://www.floatanalysis.com Best regards, Steve Woods
an auditor? Funny how you haven't, again, responded to me. I was the one who first recommended you get audited, but maybe you didn't like to hear that. Sam
Can't help but feel that Steve Woods is a good author, and a nice person, but not a crackerjack trader. Anyone who has the time to answer all these postings, write a book, but forget to certify his results must be hiding a very mediocre trading record. Just my opinion. Sam