As long as the markets are firm, I will keep posting these pullback plays. They have been peforming well during the bear market, but when we get these bear market rallys, they can be outstanding.
Remember, the idea is to take profits quickly on these, ideally when RSI(2) closes above 70.
Do not forget a stop loss, 8% should do, just in case a bounce never comes.
Laziest blogger south of PA.
Not much time lately my friend.
And the muse comes and goes.
She’ll be back around directly, I reckon.
No worries Woodshedder. I know you always provide copious amounts of quality.
Thanks!
That RSI(2) is a nice indicator. Like picking low hanging fruit.
Glad you like it Alpha.
Though after seeing your hedged portfolio posts on the PPT, you might move too much size for some of these less liquid stocks.
Yeah, I know. Size matters.
Woodshedder…I really like your blog, as we are of the same strategy.
My question: What type of screening/scanning do you do ahead of time to find stocks that are dipping down into the buy range? I have Finviz elite and can sort by RSI (14) is the only option…is that not going to work?
Darren, I use stockfetcher, for a lot of my screening.
You’ll need to set Finviz’s RSI measure to 2 period.
For momo, industry/sector screening, I use the PPT.
I am a lazy blogger sometimes too, but at least I don’t resort to YouTube videos as often as Fly. LOL