Omni pick Tues 23/1

Jazz

Member
86 0
Titus, don't want to steal you thunder, but thought I would post this one and get everyone's opinions.

It would be interesting to see who else had this one as a new buy tonight.

Using short term aggressive, daily

SPW Scottish Power

ADV 95 BTHR 91
Williams %R peak
Kirshenbaum Band
Price rate of change Crossover
Relative strength index peak

Views anyone?
rgds
J
 

titus-uk

1
291 5
Jazz - you are doing exactly what I hoped - different people sharing views using OT - as you can see from other posts, there are some probs in running it successfully. Learning to use what I believemay be a powerful tool - if its strengths and limitations are understood.

The only reason that I have not posted of late is because I have just got J Murphys TA of the Financial Markets. Amazing read and only 100 pages in. The best way to describe it is that its like looking out of the window for ages on end, and then suddenly being out there. Very very reccommended.

Just looking at Scotish Power. You've listed all the signals. However, looking at the chart it is at one of its lowest levels for almost a year. However, just coming off there, I see a substantial increase in volume - with buys outnumbering sells (ADVFN over last 3 trading days). This may be forming a support level. In addition there has been a recent CCI divergance. Stochs are oversold - though yet to turn up. Money flow/ MACD are not yet encouraging.

I think I would watch for a little more confirmation over next 1 - 2 days. After all, it was either TRaderx or Cigar who have said the first and last 10% are the most dangerous on any move.


Any more views about SPW would be welcome!
Mark
 

Cigar

Well-known member
291 13
Evening all.

You have lots of vol, someones hoping its a bottom. I have my doubts. Maybe up for a couple of days then more down. Theres a little historical resistance at this level.
5/15d ma steep down.
looks like 2 gravestone dojis(near) side by side which isn't good news.
Slight RSI bullish divergences. I can't see anymore bullish divergences. Stochs and RSI still low.
CCI on a historical low (can it go lower?) Look back a year and CCI gave a bullish divergence before the bottom. None at the present (as I can see). One of my favourite signals for a major reversal is a +div on either CCI or TCI, and when you see it, just wait for the stochs to tell you to buy.
I'd watch for a while.

Have a look at the + divergence on CWG over the last month on TCI. Didn't show on CCI.