The Stock/ETF/Commodity Pinbar Thread

Thanks Infinity, think you lost me though You use a program, like excel, to import the data? Or is there a special spreadsheet I need. Thanks again, never thought of filtering this way. Sounds interesting.

Hey Jlr, you might want to check FINVIZ if you are looking for daily pins in the guise of hammers/gravestones etc.

I have yet to subscribe,but the free stuff is pretty good. You can combine candles with patterns,so if i enter optionable/shortable -yes-, then TL support -yes- ,then candle hammer, I get some descent picks.



Im still searching for the best stock screener to subscribe to,but so far FINVIZ and StockCharts.com seem to be my best options

Exactly. I have a list of stocks in one column, then I grab the data High, Low, Open, Close and 2 more columns for 30-day High, and 30-day Low (although for weekly scans, 52-week high/low might work better). Then in my next column I calculate whether I think it's a pinbar. That's the general idea anyway... AnalyzerXL (which is a plug-in for excel) can pull in the data for free from Yahoo.

Weekly Pins (listed in order of Market Cap - Largest company to smallest):

Bullish:
DB - DEUTSCHE BANK AG-REGISTERED
LQD - ISHARES IBOXX INV GR CORP BD
NTRS - NORTHERN TRUST CORP
RSG - REPUBLIC SERVICES INC
XEC - CIMAREX ENERGY CO
AN - AUTONATION INC
PPDI - PHARMACEUTICAL PRODUCT DEVEL
BRO - BROWN & BROWN INC
MCP - MOLYCORP INC
UNFI - UNITED NATURAL FOODS INC
PRI - PRIMERICA INC
STWD - STARWOOD PROPERTY TRUST INC
STRI - STR HOLDINGS INC
BPI - BRIDGEPOINT EDUCATION INC
HALO - HALOZYME THERAPEUTICS INC
ESC - EMERITUS CORP
EPIQ - EPIQ SYSTEMS INC

Bearish:
INTC - INTEL CORP
HPQ - HEWLETT-PACKARD CO
BND - VANGUARD TOTAL BOND MARKET
OTEX - OPEN TEXT CORP
TSLA - TESLA MOTORS INC
HRBN - HARBIN ELECTRIC INC
GB - GREATBATCH INC
NTRI - NUTRISYSTEM INC
NPSP - NPS PHARMACEUTICALS INC

Thanks guys, will check out both sometime this week. Right now I'm using stockfetcher, which is pretty decent. Only 8 bucks a month I filter to scan basically the movers, that have traded with certain daily volume. I'd be so happy, but I can't find pinbars at all, since they sometimes open/close within the same range, they don't show up as movers. Have used it for some weeks without even realizing

This one is really nice,it has two timeframes rolled up in one direction,both in upward channels.The daily is especially good,showing a really good pin mid week and another ,further on up the channel at the end of the week.

saw this thread, dont have time to read through the whole thing but check out the monthly charts of these:

NFLX, AAPL, MO, YUM

all great companies, MO and YUM being the more risk averse plays...with MO paying 6% dividend!

NFLX


looks nice , will this be the end of the bullish uptrend wich started in nov 2009 ?

letz see...

the reactions in the channel would have been good buying opportunitys on the way up .. btw.

What broker do you guys use for trading ETFs?

Sorry been away for a while. For brokers on ETF/Stocks/Commodities I'd check out MB Trading & Interactive Brokers. IB for sure if you're planning on doing lots of foreign investing and/or need access to a number of different exchanges. MB Trading is probably better if you need a smaller account and are only doing US stocks...

how did this system end up turning out? im currently in the process of making a very similar scanner specializing on the pin bars

Not sure how I missed this response...

In answer to your question, it's hard to say really. I think "life" got in the way of truly testing the "system". The reason I have system in quotes is because in order to truly define something as a system you have to have hard rules and be systematic in their application.

When I first started testing what I thought would become a system, I had a lot of free time to devote to studying, testing, tweaking, and indeed trading off of the signals it produced. The problem was that things inevitably got in the way of me fully implementing a finalized version of things -- Life events, job events, etc. So if you can't run the scan every day (or week), optimize & finalize your selection criteria (which includes filtering out bad-data) and then executing the trades (or execute the "paper trades" if you're in test mode) you'll be only analyzing a portion of the results which could lead you to incorrect conclusions about how profitable (or unprofitable) the system is.

At the end of the day, this is something I hope I can come back to at a later date, but right now with everything I have going on... it's going to be challenging.

I wish you all the best in your search and would welcome you to post up any interesting trades or progress you make on finding a method that works consistently well! I'll of course be back in here looking at any new posts.

Dusted off a couple of the old spreadsheets. Ran my screen for old times sake and found a couple interesting long ideas...

Bob Evans (Restaurant Chain)


CZZ (South American Agriculture/Energy firm)


THRM (a little bit speculative, probably won't buy it)


TKR (Industrial/Machinery firm)


Now I just need to see if fundamentally they make sense.

I think I've come to the conclusion that being at the right level w/ the right technical set up is not enough. To get the odds truly stacked in your favor you have to have the right company, during the right kind of market, at the right valuation, and then buy it at the right level.

Seems obvious, but you'd be surprised how many times i've fallen for one and not the other (oh i'm buying a GREAT company but the market is about to enter a massive bear market) or you could buy a hot company that's about to stumble, etc etc.

Just bot this one the other day. Looking for a breakout. Can use a fairly tight stop too if it doesn't work out.

http://finviz.com/publish/120812/MCKc0wl0000.png

For anyone who used to follow my stuff over here, i've posted a few things over here:

I've gotten away from purely pinbars as I find it better to trade a few more chart patterns.

Anyhow, I'm still long MCK and its at $108. TKR is at $53 now... There have been some good ones lately, however as with most stocks... if you've been long, you've been right.

do continue with this

I've been posting more charts over at stocktwits as well. YOu can find my stuff here: http://stocktwits.com/InfinitySL And then instead of looking at "all" items, click on "charts" across the top of the feed.

Not sure how many charts you can upload to a single post, but lets test this out... Here are a number of pinbars that came up in my usual scans. These are all WEEKLY charts, therefore only suitable for longer time frames (which is all i trade anyway). I'm already long HUM and MEAS and will be looking to buy OAS and potentially THRM next week (potentially).

In Alphabetical order:

$HAS

$HUM

$IGT

$MEAS

$OAS

$SHOO

$SRCL

$THRM

$WHR

Nice charts, think I prefer the weekly ym pin over those though

Hey Sean..nice thread..

the market will have to decide what's really going on under the thaw and with the S&P 500 back near an all-time high,
the time for a melt-up or meltdown is near. Looks like its showing its hand with the flow..The weekly pin low creating the liquidity
to make new high's ?