If any one wants to look up what the street is looking for on RRGB and post it here that would be great...... I may have time at the close to trade this in the AH right off the news but I need to know the forward 2010 expectaions and guidence.....anyone have an easy way to find this? Do I just check the S&P report or what?
I noticed you are using MACD(3,16,10). Chet also wrote the filter using these parameters. How are these parameters working for you. Mine is much slower. Were these parameters a result of optimization testing for the 3-key or they just happen to be your personal favorites?.
I did run a back test on the 3 keys the results were not great....
I did not try to run it on DIA or some of the older ETFs... I dont think you can back test an index?
but what you see on the charts are fact....it seems to work on the index...
Any grade school kid could look at the RUT chart today and if you ask them what do you think it will do tomorrow and they will all say up....we know it will do 1 of 3 things up down or sideways....all the other indicators just help me pull the trigger....keep me from waiting one more day..... do they work every time.....no.....
I think the real key to this game is stock selection..... you get a list from your filter.... if its a good filter if 1/2 will be winners....
So how then do you pick? (if any of the old vets want to throw a bone here is your chance) this is where I am now..... fundamentals and sector play a role.... short intrest and currency..... customer base.... the micro and macro of the company.... fed and taxes.....as you can see it would take a huge amount of time to research each one for a 3 day swing.... so what to do? you can buy the IBD 100.....you can start to build a list of names and wait for them to pull back and get in.
Your method of mixing technical and fundamental analysis is interesting. I almost never do this myself unless I am buying something for my son’s portfolio which is a long term as you might guess. In such case, the fundamental analysis will be the main decision making method and technicals are only to get the best entry and avoid some initial heat if I can. The rest of my work – scalping, day trading or swinging – are based on technicals only. But this is just me. If it works for you, this is what you should be doing. Good luck
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