Dragon Scan Candidates for Jan 9, 2014

Dragon Scan Candidates

This scan is to quickly find the stocks that have this Wedge pattern or Dragon pattern

I am putting this in ThinkorSwim for the folks who cannot access TC2000 or Telechart. 

First Custom Scan: Price Linear Regression 44 days

#Big Bull and Big Bear LLC

def MiddleLR = InertiaAll(close, 44);
plot buy1 = middleLR > middleLR[10];


Second Custom Scan: Volume Linear Regression 10 days
#Big Bull and Big Bear LLC

def MiddleLRVol = InertiaAll(volume, 10);
plot volbuy =middleLRvol < middleLRvol[5];


Third Custom Scan: Top Band Linear Regression 10 days
#Big Bull and Big Bear LLC

def price = 1.01*High;
def TopbandLR = InertiaAll(price, 10);
plot toplr =topbandLR < topbandLR[5];


Fourth Custom Scan: Lower Band Linear Regression 10 days

#Big Bull and Big Bear LLC
def price2 = 0.99*Low;
def LowerbandLR = InertiaAll(price2, 10);
plot lowerlr =lowerbandLR > lowerbandLR[5];

I run this scan on the stocks that show on a very good tool called Bluefin developed by a friend Dan Cummiskey atPatient Fisherman.

As Dan has pointed out multiple times, one should to be in the best performing stocks in the market. In Bluefin, Dan has filtered out the strongest stocks by various methods. 

Now one need to go through this entire list and using elbow grease, need to identify trade able pattern and subscribe to alerts. 

Risk Management

One of the very good articles that describes what really happened in 2008 Market Crash. I did talk about this article with couple of friends late yesterday night. So here is the link.

http://www.nytimes.com/2009/01/04/magazine/04risk-t.html

The focus here should be to nderstand how and on what all these relies ON and find your way around it to either escape UNSCATHED or Swim in Profits.

Now that's what I call RISK Management