Monday, July 21, 2008

Charts That Caught My Eye Today








3 comments:

Anonymous said...

Hey Stewie-

Just recently came across your blog, and I think it's fantastic. Quick question for you...what do you use to filter out what stocks you'll scan through in the charts? Also, are you famiiar with John Carter and Hubert Senters over at tradethemarkets.com? The holy grail play seems somewhat similar to their Propulsion Play, except they trade pullbacks to the 8 EMA, w/ a stop at either the 21 EMA, OR 8% below entry (whichever is greater) Also, I think they use this play more for swing trades, less intraday. Look forward to hearing from you, keep up the great work.

-SK

Stewie said...

hi SK always nice to see new readers. I use Holy Grails(HG) mostly for day trading in strongly trending mrkts. when i scan thru charts, i am basically scanning for 52 week highs/low, percetage gainers/losers. nothing fancy. but i keep track of all these stocks(about 100 of them or so) at stockcharts.com and i visually scan thru these charts 3-4 times during the trading session and try and spot interesting patterns. i will big volume movers.
The HG pattern has been around for a long time, i didn;t invest it but i tweaked in a way where it works nicely for day trading and i like to incorporate patterns with the 20 SMA test. If i spot a wedge that tags the 20 SMA in a strongly trending stock, then my confidence grows about the trades prospects.

hope this helps. cheers.

VT Castle said...

Sup Stewie - Nice ride in the financials over the last few sessions. Saw your chart of LEH, but checkout FNM. Very similar, w/ a nice inverted hammer that fits very nicely w/ former lows.

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