Ok i'll try to post up the cross over report that i have created from the AIQ system every week. ( hopefully on friday nights so you get the weekend to have a good look )
It shows ( or will ) those stocks that in the last 5 days have crossed MAs ( the 5 day over the 10 day ) These are only ftse100 stocks and only those that do over 300k per day vol.
The other things to bear in mind with this report are the following,
Trend Score and Delta Trend Score
AIQ’s two special trend indicators, Trend Score and Delta Trend Score, appear on all group and sector reports. These indicators are explained below.
Trend Score (TS)
Trend Score is an extremely useful indication of the overall technical strength or weakness of each group or sector. It is derived from six technical indicators (MACD, Directional Movement, ADXR, Positive Volume, Volume Accumulation, and On Balance Volume). Trend Score is designed to give a quantitative measure of the current trend of these indicators.
A special expert system computes the Trend Score from the values of the six indicators. The indicators are all trend-following and the expert system consists entirely of trend-following rules. Trend Score values are similar to Expert Ratings in that they range between plus and minus 100, with large positive values indicating an uptrend and large negative values a downtrend.
Delta Trend Score (DTS)
Delta Trend Score measures the rate of change in the Trend Score from the previous day’s value. A large DTS value can be an indication of significant change and is often an early sign of improving technical conditions.
Don't forget to look for the TS and DTS for the group that the stock belongs to.
read your excellent post sefty and decided to join the board.
i very rarely use tech analysis(to lazy to learn it i guess)but i feel i need to get to grips with at least the very basics.
nowadays i tend to daytrade/v.short term my shares with good results as long as i stick with this simple plan.
firstly monitor 10-15 big name tech companies e.g. Baltimore,Psion,Marconi etc.make sure you have a good idea where you think their support levels are(www.investtech.com is a good site for people who don't have the use of analysis software,Sukhi,they basicaly do it all for you.)find out if the stocks are about to release results or had a profit warning etc.
now this is the simple bit,wait until the Nasdaq opens and at around 16:00 decide if it's sustaining it's strong opening,if so buy one of your monitored stocks which has dropped to it's support level(or near abouts).never buy the next morning because the spread will be a killer and if you've got a number of stocks to choose from go for the one with the results due.Simple eh!
if the Nasdaq has continued to be strong till the closing bell then over night the MM's should have been at work,the share should open higher and continue to rise through public buying for the first hour or so,that's when you sell and cash in.around about £5000+ is what you need to get started.
you must not jump in,like i have done in the past,thinking a stock wouldn't go any lower only to find a number of bad Nasdaq days dragging it down further(MONI at the moment).there are some big profits to be made soon,when the Nas rallies.use these simple rules,do not stray and enjoy the ride.
By the way this strategy will not make you rich over night but if you could make say 5% per month clear profit and you started of with £5000, instead of taking that profit you compounded it by rolling it onto the next months pick (s) then in 2yrs time your 5K would be worth about £15,350
3yrs £27,500 4yrs £49,380 5yrs £88.600
Sorry, Sefty, I don't mean to come across as hypercritical. Life does indeed get in the way sometimes and I believe it's a bad idea to attempt to trade when it does. But goddam, the sheer compound interest of it all ...
And thanks for a brilliant thread. Hope life lets you earn the rewards of it.