|
PureBytes Links
Trading Reference Links
|
ROCK, Advanced Get shows GMH to be in a wave 3 on daily chart
The scan that I use (in Quotes Plus) is to find stocks that have: 1) hit a 6
month high for the close, low, and high over the last 21 days, 2) hit a 6 month
high for either On Balance Volume or Chaikin's Volume Accumulation over last 21
days, 3) %k and %d for the Stochastics(89,3,5) is above 70 over the last 14
trading days, 4) a 6 month high over last 21 trading days for the difference
between the 5 and 35 day simple moving average, 5) lows over last 21 days are
above 34 day exponential moving average, 6) stochrsi(8,8,5)<30 and less than
prior day's value, and 7) stochrsi(34,34,13)>60 or <40. I'm focusing on large
caps, so I require market capitalization to be > $1billion.
Jan
richard owen wrote:
> Just curious JAN as to whether or not u see GWH as being in EW4 and
> therefore waiting for the completion of EW4 BEFORE entering a position.Also
> could u share your scan which uncovered GWH
> THANKS
> ROCK
> ----- Original Message -----
> From: Jan Robert Wolansky <jrwolansky@xxxxxxxxxxx>
> To: <metastock@xxxxxxxxxxxxx>
> Sent: February 2, 1999 9:07 AM
> Subject: Re: Weekly Pick
>
> >Hi Jim, I've been following your posts for some time. GMH came up in a
> scan I
> >ran last night--assuming it doesn't fall out of its trend channel today, it
> >should be a good pick tomorrow or day after. Your system that identified
> GMH
> >seems quite good, but perhaps it needs to be tweeked alittle for its entry
> >point. At some point when we both have time, I'd like to compare notes,
> since
> >we are both coming up with similiar stocks, using different technical
> >indicators.
> >
> >Regards, Jan Robert Wolansky
> >
> >Jim Greening wrote:
> >
> >> All
> >> This was an interesting week in which I added AOL, AMZN, and ATHM to
> my
> >> portfolio and was stopped out of AMZN and RDC. I hate to add a stock and
> >> delete it in the same week like AMZN, but I guess that's the way the
> system
> >> works and it has been successful for me. The good news is that my
> portfolio
> >> is up again for the week. As long as that continues to happen I won't
> >> complain -- too much <G>.
> >> January is over and so is my experiment with the small cap beaten
> down
> >> stocks for the January effect. The only one I have left in my portfolio
> is
> >> MDM which is up a little over 20%. Along the way I closed COHU for a 11%
> >> gain, ROW for a 10% loss, IDTI for a 6% loss, SDTI for a 80% gain, SIF
> for a
> >> 15% gain, SHRP for a 15% loss, and RDC for a 27% loss. That's not bad
> >> overall, but we didn't have any of the triple digit gainers I was looking
> >> for. Looking at the indices, it still seems that the market is favoring
> the
> >> large cap, solid earning, market leaders, so that's where I'll
> concentrate
> >> except for a few bottom fishing expeditions that I can't seem to resist
> <G>.
> >> For example, I'm still watching the oil stocks for their long awaited
> turn.
> >> I'm still a little concerned about the way the DJI is acting, as it
> >> keeps falling below the bottom of its Short Term Up Trend Channel (STUTC)
> >> and then crawls back up into the channel only to fall through the bottom
> >> again. The result of this action is that it is paralleling the bottom of
> >> the channel up which isn't all that bad, but I would feel better if it
> would
> >> climb back into the channel and stay. To offset that we have the NASD
> OTC
> >> Index which keeps setting new all time highs. To me, that means I should
> >> continue to cautiously add long high tech momentum type plays. However,
> I
> >> have enough Internet exposure and wanted to look into some other high
> tech
> >> areas this week. I think that I've done that by finding Hughs
> Electronics
> >> Corp (GMH).
> >> Hughes Electronics' operations are overflowing with space. This
> >> publicly traded commercial electronics unit of General Motors (GM) is
> >> charting the heavens to establish itself as the market leader of the
> >> commercial satellite services industry. It has made almost 40% of the
> >> world's commercial satellites currently in operation, transmitting
> >> everything from telephone calls and video conferences to TV news reports
> and
> >> TV programming. Its subsidiary DIRECTV is the largest satellite-TV
> >> broadcaster in the US, offering more than 185 channels of programming to
> >> more than 3.6 million customers. Its equipment arm is a top supplier of
> >> wireless phone networks and cellular mobile systems. It also owns 81% of
> >> PanAmSat, a 17-satellite (with six more expected by late 1999) global
> >> network and supplier of satellite-based business networks, and is
> developing
> >> SPACEWAY, a global geostationary spacecraft system providing business and
> >> consumer telecommunications services. It has been divesting its other
> >> electronics interests to focus on communications.
> >> GMH at 49 1/4 is in a well defined STUTC. I constructed the STUTC
> from
> >> the 12/18/98 low to the 1/18/98 high using the MetaStock Standard
> Deviation
> >> channel. The top with the deviation set at 2 is 57 1/8, the bottom with
> the
> >> deviation set at 1 is 48.92. GMH made an all time high of 57.88 on
> 5/13/88
> >> and then went into an intermediate term down trend to a low of 30.38 on
> >> 10/08/98. From there it recovered and pulled back again to the 12/18/98
> low
> >> then moved steadily up and broke out of the down trend channel on
> 12/31/98.
> >> It then went on up to define the current STUTC. The Tema Binary wave and
> >> Qstick are both positive and rising with the Binary Wave making an
> >> especially strong showing. The fundamentals are OK with the price /sales
> a
> >> little high at 8.97, and debt/equity great at 0.09. It's sales and
> earnings
> >> have been negative as it shed its other businesses, but the recent strong
> up
> >> move suggests that most of that is behind it and the decks should be
> cleared
> >> for new growth. I'll open a position some time Monday. I'll set my
> initial
> >> target just under the top of the STUTC at 57 and my stop just under the
> >> bottom of the STUTC at 48 3/4.
> >> I'll send a GMH.GIF chart to everyone on my email chart list.
> >>
> >> JimG
> >
> >
> >
> >
> >
> >
|