Samurai Trader: Market About To Test Support

The VIX just broke out at 75, XLE, XLB, and XLU are dropping like flies, and the SPX is headed back for 838.

If it breaks it, look out below.

About ThIs Blog

This blog is focused on technical analysis of stocks and markets, putting heavy emphasis on chart analysis. My trading style is derived primarily from my mentor, William "Yoda" O'Neil, and the focus here is on leading and breakout stocks, but all forms of trading are covered to some extent. Economic and political news that effects the market are also topics here, and the blog may occasionally become a platform for my political and philosophical ranting. I keep several spreadsheets on Google docs which track various aspects of the market and readers are welcome to vies and comment on them.

Google Docs Spreadsheets

There are several spreadsheet that I maintain on Google docs to track various watchlists and trends in the market.

1. The earnings list - a group of small and micro cap, low float stocks that have exhibited recent rapid earnings growth. They are modeled along the lines of William O'Neil's CAN SLIM system, but limited to small cap, highly volatile stocks.

It can be accessed here and is updated weekly.

2. The relative strength list - a group of stocks which are near 52 week highs and have shown an increase in average daily volume. The list is limited to the top 200 stocks according to my methodology, which will be detailed on one of the pages of the spreadsheet.

It can be accessed here, and is also updates weekly.

3. Relative strength by industry - Uses industry data from Finviz.com to track the percentage of stocks within each industry that are in the top 25% of the 52 week price range, looking for trends.

It can be accessed here, and is updated weekly.

4. Finally, the new highs update, simply a list of new highs as screened by Finviz, in spreadsheet form and sorted by industry.

It can be accesssed here, and is updated after each trading day.

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Friday, October 10, 2008

Market About To Test Support

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