PPT Most Discussed Stocks Dissected!
Tuesday, July 7, 2009 at 9:10 am
Here’s what the “Most Discussed Stocks” on PPT look like with my color coded charts. Â It should be pretty clear, but red is downtrending, white is neutral, and green is uptrending. Â The best entry is on the day of the signal.
Here is the list:
Teck Cominco Limited (USA) (TCK: 40.70 +1.29%)
(ERX: 40.79 +0.07%)
(UNG: 7.97 -1.12%)
Goldman Sachs Group, Inc. (GS: 174.96 +0.84%)
Silver Wheaton Corp. (USA) (SLW: 15.46 -0.58%)
Flotek Industries, Inc. (FTK: 1.45 +3.61%)
(ENTR: 4.41 +4.50%)
Green Mountain Coffee Roasters Inc. (GMCR: 92.65 +0.31%)
(TZA: 7.30 +0.14%)
Danny, what is the name of that moving indicator you have working on these charts?
the lines underneath price are simply the lowest traded price for the last 5 days, and the lowest traded price in the last 15 days. These numbers are arbitrary, it could be lowest price for last 6 days / 16 days, or any combination thereof, but I’ve found that 5 and 15 work well. 5 days is effectively a week, and 15 is 3 weeks, so they are good gauges of how a stock is trending.
The colors are dependent on a code that measures price action, and paints accordingly. So if trend is bullish, the candle is green, and if trend is bearish, candle is red. It doesn’t take into consideration if the bar itself closed higher or lower, it only measures how that bar fits into the trend, then paints it.
Does that clear it up?
indeud. the danny machine wins again.