11/04 Scan and Energy Stocks

[rosow]

All,
Ran my usual S&P 500 and MTPredictor volume scan this evening. All hits were shorts from the energy complex. Attached is SPN. Friday was an inside day as well. BHI, XOM and XLE also gave valid hits. EOG and PBR showed up but had slightly low R/R ratios.

Lenny

[timo4sho]

What are your scan-criteria? Do you use a Trend-Filter for your trades?

[rosow]

I use the TC2000 Volume scan demonstrated by Steve in the videos. It cuts the list of 7000 stocks down to about 1000.

Lenny

[rosow]

Interesting to see an intraday MTPredictor 5 minute chart on SPN today. I don't have realtime...............yet : >)The initial move down looks like an ABC that may have reversed at a minimum Wave C target while the move up during mid day was a perfect ABC that probably stopped at the typical wave C target. The rest of the day was straight down. I'd upload an eSignal chart but am having major problems with the new resolution limitations on these boards.

Lenny

[Steve Griffiths]

Hi lenny.

I hope the chart below answers your question.

Here the low of the day yesterday was a perfect TS3 buy.

So yes, there was an ABC into the low of the day yesterday :)

Thanks

Steve