There's a post here on IL Tellero's blog where the 10/60 cross was talked about and regarding the 10/60 cross with volume spikes I commented......
"The volume spike thing,imo,just makes a VERY good play regarding risk/reward rather than just a good one.
And again,at or very near even dollar crosses any 10/60 is just icing on the cake.
I’ve followed the same 5min, 2.5day, 10/60 cross going on 9 years now and the one thing that stands out to me and still holds true is that it works even with sells if you are long or shorts to open a position.
I’ve never figured out why,but it does.
Cavemen can’t always figure out why,they just go with the flow:)"
So if you'd like to look at some chart examples of stocks from the high dayrangers list on Friday so maybe you can see what I mean by volume spikes that occur very near the cross,either just before, after the cross,or right on the cross,maybe these can give you a clearer picture....using my 2.5 day,5 min chart:
HBAN the down cross at 3.47
FITB the down cross at 3.02
SEH the down cross at 3.75
AXL the down cross at 1.33
SFI the down cross at 1.14
PSTI the down cross at 1.80
MTG the down cross at 3.07
GFG the down cross at 1.70
SKYT the up cross at 1.32
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4 comments:
Hi Laura/Muddy, this is a helpful post.
An unrelated questions about the Q-Box: I was short on C about two weeks ago. I entered after it broke $5, but it pulled back a bit and stalled for about a half hour.
I had the Scotttrade Q-Box open with C in. Then all of a sudden, it started to get real jumpy - what I have always thought what you meant by "jiggy". It started to cycle through bids and asks real quick bouncing a couple pennies back and forth rapidly.
I thought this was a sign that it was going to "pop". I wasn't paying attention to FAZ or the overall market at the time, so that maybe would have given me a clue the sector was moving.
Because I thought it was going to back up, I exited the trade since I thought jiggy only was good for longs.
Was this just an isolated incident or can jiggy Q-Box action also signal tankage in a downtreading stock?
Thanks,
Charlie
Sorry, I forget the main part of the question background - right after it was "jiggy", C went down pretty quickly after hovering at $5 for about 30 minutes.
Wow Muddy thanks for the mention! I think since I started following your strategy much closer, I'm up about 6K since October...and that's with trading part time!!! You make it look so easy! Always a student and much respect...Torello.
My only wish...I wish I learned this a long time ago! Beautiful trading Muddy.
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