I get a weekly newsletter from stockcharts.com, called “ChartWatchers – The StockCharts.com Newsletter for June 21st, 2015” (web version is linked).
While the newsletter starts out by warning against overthinking and/or over-analyzing, I still enjoy reading it because I like to learn about stocks, charting, analysis, and mostly because I just enjoy it. I know, it makes me seem sick and twisted but I like that!
Anyway, I came across something in the newsletter about the Elder Impulse System that piqued my interest. I checked it against my new ‘system’ (as yet unpublished but referenced in my previous post) and got confirmation on several of my selections.
I forwarded this information to a fellow trader on StockTwits who was looking for a good entry point on one of my current holdings. His reply, and my replies:
Used to tinker with the elder impulse but found I would miss a big part of the move if I waited for the bar to turn green.
I just found it confirms my ‘system’, outlined here; hyhrd.com/2015/06/20/hyhrd-… so I will add it to my repertoire as a confirmation
I also like the point & figure charts on stocks as well. So how are you doing? I hope you are well & enjoying a profitable year
So, it looks like I might be adding a new post about “Consulting with the “Elders”” to my battery of postings here on the blog.
I also like the feature about the “SCTR” line and may add that as well. I’ll have to see what works best in combination before I step in any further.
As an aside here, it seems to me that this “SCTR” thing could be closely related to the barchart.com version of their ‘opinion’ rating, called; “TrendSpotter”. But, I probably won’t use that just yet, maybe after I have made some selections, maybe not at all. We’ll see…
I’d also like to tie-in the P&F posts and this newly proposed post with the rest of the postings, to try to more closely resemble some semblance of intelligent thought, though I may not be capable of that.
Time will tell…