Monday, September 13, 2010
Sooo, we had quite a few Pocket Pivot signals today, and I had a quite a few emails from people asking "Why so many?" We took the base logic for the Pocket Pivot and left the elbow grease part where you look at the chart and figure out if it's coming off a base (10 day ma or 20 day ma) up to your discretion.
Personally, I like more candidates to review versus less. That’s how the Percolator scan came about, it gives me a large group of possible candidates allowing me to hand pick the best looking setup.
I can write some logic to only show signal when the stock is between the 20 and 10 day MA, but then I would get another batch of emails asking why we didn't catch the Pivot moving off the 50 day, or the 5 days consolidation for stock X.
I've added a condition to check for 10DG growth < 10% to narrow the list down a bit. This will continue to be a work in progress.