Using the data from my previous article (see my blog published on 11/23) today I will compare 11/23/07 trading activity versus the closing data of 11/21/07. Let me emphasize, the FTR captures blips that are potential day trading candidates for the following trading day. As always the FTR surface criteria is simply,
Exchange = NASDAQ, Price = $15 - $45, Volume => 1,000,000.
Additionally, my references are specific to daytrading, daytraders, and active traders. Let me begin.
If one were to extract data based on the criteria above for close of trading 11/23/07, the query would match and return fifty six (56) stocks. The highest percentage mover is BIDZ whose percentage gain was +13.88%, a significant move. If one compares my FTR stocks for close of trading 11/21/2007 one would notice the symbol BIDZ is displayed. I also wrote “As I digest the Forensic Trader Radar (FTR) numbers the retail industry stands out more than others”. This is the power of the FTR, even though BIDZ was down -7.84% on 11/21/07 the FTR sensors captured the under currents not visible to average screener. Logically speaking most individuals would have eliminated BIDZ from trading on Friday because the human tendency is to focus on what’s hot and discard what’s not.
So, in a nutshell the FTR identified a stock that had the highest percentage gain the following trading day based on my criteria. If you continue reading my older post you will see a similar pattern. What an advantage to have a tool like the FTR in your arsenal.
Forensic Trader - Copyright © 2007, all rights reserved.
Symbol, Volume,and Closing price data are assumed accurate, however readers are responsible for verifying stock market data. Bias, support and resistance is determined via proprietary calculations and should not be considered buy or sell advise.
