Given that we’re in new investing waters I’ve been playing around with some new parameters trying to find something that works in these volatile times and I may have come across a scan with possibilities. Seems that all my old bullish momentum scans aren’t yielding any results at all, so I put them aside for now and I’m trying some new parameters. This scan doesn’t have a catchy name or anything and it’s really simple with these being the main parameters trying to identify stocks that may be reversing negative trends.
- Higher highs/lower lows
- Larger than average volume pouring in
- Steadily improving RSI/MACD on daily/wkly
- Close outside upper BB
It yielded a few results today: EGO PFCB WAB WIND. For disclosure purposes I didn’t purchase any of these today because I want to buy them on some type of pullback, as they are obviously overbought. However I did get into BGG and ORLY near the close as they came up on results from a few days ago. Again I’m keeping my position sizes small, mental stops tight,but as long as I’m short term bullish on the markets I’m going to trade accordingly.
Thoughts, concerns, suggestions?