Sold the rest @ 24.47 because don't like S&P. Reenter half the position partially @ 23.95 and 24.12. I think I am just gonna keep half. Good trading.
I also saw the move up on high volume yesterday near the close and think you may be on to something. Also, there seems to be a "bear" strategy: If all those following JH's rules to the letter jump in at the same time, then it seems if you get in early as you suggested, you should do well on the quick move up. Then when, watching the tape, you see a slow down in activity and more orders going off at or below the bid, you might close for a quick profit and short for a quick gain on the pullback. After the dust settles, reestablish your long. Would have worked to perfection today; but, one sample does not a system make. Doug "
Comfortably holding my BOOM shares as it was showing good strength relative to the S&P. I put together an Excel spreadsheet that flashes alerts when Volume reaches DU, FRV and PV and tracks the % level of these three volume levels. It also calculates shares allocation, target price and stop loss price given some risk parameters based on the daily ATR. It works with eSignal DDE but if your data provider offers an Excel access you should be able to modify the cells to get data from your system. Cells that should be populated by your system are marked with a red column header. Calculated cells are marked with a green header. Everything else should be entered manually. But give it a try and you'll see it's very easy to use. Hope you'll find this helpful.
I got my first fill at 11:05 out at 11:23 for 2.8% gain then back in at 12:00 and out at 12:16 for a .7% gain. Missed the close so I will be watching in the morning. Good trading everyone. G87
Jack explains the 'why' from the TA thread http://www.elitetrader.com/vb/showthread.php?threadid=59386&goto=newpost
Now that most of us are holding on their BOOM shares, I run one of those annoying little studies where I calculate the worst intraday drops for the stock over the past month, just to have an idea of what to expect from our dude. Other than a nasty ride of $4.50 up and down on 11/8 (don't know what happened there, probably some news) results come in similar to the other stocks I calculated the last time, with all drops in a range between 67% to 108% of the Daily ATR(14). My trailing stop is set to 1.3 Daily ATR(14). Good trading to everybody.
Final Universe Update Current Final Universe BOOM BTUI CTHR CUTR DCAI DPTR ELOS FORD GMXR HANS IRIS JMDT KNDL LIFC NDAQ NFLX NGAS NGPS NTRI PETS RATE RNOW SNHY TIE TRGL VDSI VPHM (as of 2005-12-01) - Spydertrader