Brad Kenagy's  Instablog

Today the following stocks/ETF's met all the criteria for one of the three technical studies below:

Bollinger Bands Study:

Bollinger Bands, ADX [Average Directional Index], Momentum, and A Moving Average

Goal: Identify Stocks that are below the lower Bollinger band, and meet other criteria I have set using the three other technical indicators listed above.

Reversal Study:

Price Channels, ADX

Goal: Identify stocks that are trending lower and show signs of reversal using Price channels and ADX.

Fibonacci Study:

Fibonacci Lines, RSI [Relative Strength Index] , and MFI [Money Flow Index]

Goal: Identify stocks that have met certain Fibonacci retracement requirements as well as other criteria for RSI and MFI.

6/5/2012 Study Matches

Below are the study matches for the day, also before looking at the list below please read my DISCLAIMER here.

Bollinger Bands Study: Korn/Ferry International (KFY), Molex Inc. (MOLX), Ameriprise Financial Inc. (AMP), Morgan Stanley (MS), Prudential Financial, Inc. (PRU), Direxion Daily Financial Bull 3X Shares (FAS), iShares Dow Jones US Financial Sector (IYF).

Reversal Study: Lam Research Corporation (LRCX)

Fibonacci Study: NONE

Thoughts

Today there were many stocks/ETF's that met the Bollinger Band Study Criteria, and out of the stocks/ETF's that met 5 of the 7 were financial related companies, which to me says that a possible reversal in the financials has just started to occur.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

This will be the first post of my new daily blog I will be starting. The subject of this blog will be on technical studies I have created, and the stocks that meet those technical study criteria. I use TD Ameritrade's ThinkorSwim platform for scanning for stocks that have met the criteria for one of the three studies below. I have three different technical studies using various technical indicators that make up each study; the three studies are listed below with the indicators that make up each study, and the idea behind each:

Bollinger Bands Study:

Bollinger Bands, ADX [Average Directional Index], Momentum, and A Moving Average

Goal: Identify Stocks that are below the lower Bollinger band, and meet other criteria I have set using the three other technical indicators listed above.

Reversal Study:

Price Channels, ADX

Goal: Identify stocks that are trending lower and show signs of reversal using Price channels and ADX

Fibonacci Study:

Fibonacci Lines, RSI [Relative Strength Index] , and MFI [Money Flow Index]

Goal: Identify stocks that have met certain Fibonacci retracement requirements as well as other criteria for RSI and MFI.

Tracking Conditions:

Available Stocks/ETF's: S&P 500, S&P Mid Cap 400, S&P Small Cap 600, Nasdaq, and all ETF's.

Entry: I will scan at the end of each day for any stocks that match any of the above three technical studies, and for tracking purposes will track the stock using the open from the day following the signal.

Exit: The exit point for all three studies will be a gain of 30% within a 1 year time period, or 1 year from the original entry date, which ever comes first.

6/4/2012 Study Matches

Below are the study matches for the day, also before looking at the list below please read my disclaimer here.

Bollinger Bands Study: NONE

Reversal Study: NONE

Fibonacci Study: Abercrombie & Fitch Co. (ANF), MetLife, Inc. (MET), NYSE Euronext, Inc. (NYX)

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Disclaimers:

The commentary does not constitute individualized investment advice. The opinions offered herein are not personalized recommendations to buy, sell or hold securities.

The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective. The information provided is not intended to be a complete analysis of every material fact respecting any strategy. The examples presented do not take into consideration commissions, tax implications or other transactions costs, which may significantly affect the economic consequences of a given strategy.

This material represents an assessment of the market environment at a specific time and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the funds or any security in particular.