Tuesday, September 29, 2009

Screening for Intraday Strength and Weakness


If you click on the Trade Ideas display above, you'll see how I'm tracking five-minute new highs and lows; moves above and below VWAP; and opening range breakouts for my basket of 40 stocks. Over time, you can see the flow of green (buying interest) and red (selling interest) and gain a feel for how the market is trading overall. By knowing which stocks belong to particular sectors, you can also track strength and weakness among the sectors and differentiate range/rotation markets from trending ones.

Sweetness.
.

5 comments:

Matthew C. said...

Bam I just got NAILED by that consumer confidence #. Gave away 3/4 of the morning's trading earnings in a couple seconds (4 1/2 ES points, yes I trade with mental stops cuz I am in-and-out dozens of times a day). I tried to limit out and missed the first couple pitches at bat.

Anyone have a recommendation as to some inexpensive alarm / notification software I can program to ping me 1-2 minutes before a trading calendar event and remind me to close positions?

Thanks

Joslin Lolo said...

thanks for the post Dr.Brett, I assume this is how you track participation real time. It's something I've be looking at myself ...In term of application would it be accurate to say that if 30/40 stocks are making new 5mins highs the trend is likely to persist?

Sean said...

Hey Matthew, I got hit by the consumer confidence # as well, but it was my fault because my gameplan said to be out of all positions before the number was released yet I gambled, stayed in my positions and got hit. Follow the plan, costly lesson to learn. Anyways, every morning I check Finviz.com to see what economic #'s are going to be released and their times. Sorry, can't help withthe alarm software, but I make a mental note of it. Good luck...

Matthew C. said...

Yeah, I check the calendars every morning too however I put on a lot of trades and it's easy for me to lost track of time especially when I am trading well and "in the zone".

I need something that is going to pop up a big fat red reminder to get out of positions at 2 minutes till. . .

blackmarkt said...

ThanX for sharing Dr. Reading your blog is a major part of my daily trading routine. I was wondering what filtering software are you using?