Are we going to try share of the day?

[titus-uk]

Some may remember that before my hols, I said that it would be interesting to use Omnitrader as a prospecting tool, to look for equities with a decent probability of a rise in the short/medium-term. Following the posting, the merits could be debated, as:

1. Omnitrader does not claim to get it right all the time - it is more of a short listing tool, hopefully flagging up shares in secotrs you would not normally look at (eg many defensives up >30% in Nov-Dec 2000).

2. It follows that shared expertise may get greater success. How many times has one of us stated that "X looks a buy because of.....", and then someone spots a fundamental or technical floor in their arguement? Shared opinion may certainly lead to wealth.

If there is enough interest, I will try to do this on most days, with reasons for it being selected, as well as strength of signal, back testing etc.(usually about this time or a little later). Some days I will not be able to because of work commitmants, but if people are interested, I will be pleased to make such a contribution to our site.

All the best
Mark

------------------

 

[Skimbleshanks]

Sounds good to me!

Skim

 

[sukhibraich]

Hi

What an excellent idea!!!!

I look forward to reading your comments. I also use OmniTrader so this may help me more in education myself.

Thanks
Sukhi

 

[Uncle]

I dont use Omni-trader, but will be very interesting to see how your choice reflects in my system using Metastock

Thanks for you input titus

John

 

[Riz]

Go on then Mark...let's give it a try..I'll try and support the posts..

rizgar

------------------

 

[sukhibraich]

Hi All

Tonight, OmniTrader is giving SHORT on CBRY based on RSI, MACD, 10/20 MA.

Comments please.

Sukhi

 

[Cigar]

I reckon its gone too far to short, in fact I'm watching for the bottom.
Its retraced about 50% of its recent uptrend, which is a fairly standard thing. If you look at the previous uptrend, early last year, it retraced approx 57%.
I think she'll go down a little further but not enough to go shorting.

 

[titus-uk]

Ok...I am just updating my data-provider, but will try to start to post from tomorrow. It will be according to strength of signal, back test hit rate etc. On all trades at the moment, I am looking for gains of only 5% plus - short term (all sectors alter so rapidly, that I feel holding for longer opens you up to unpleasant surprises!)

The good thing about OT is that it looks at equities in different fashions eg as an oscillating share, of trending etc. Any tips to optimize settings can also be discussed. I hope we can learn, and grow richer from this!
Mark


------------------

 

[sukhibraich]

Cigar

You may be right. Now it is on my watch list for going long if it reverses. OmniTrader gave Short on Friday with Reinforced Short yesterday. Friday should been good day to short. But I'll keep my eyes on this one.

Mark

I am looking forward to your posts. I am too looking for any tips to optimize settings.
Any tips????

We all hope we can learn, and grow richer from this!

Sukhi