š£ BIG ANNOUNCEMENT š£
As I mentioned a while back in my post about experimenting with monetization I was trying out the Medium program to get paid for posts. Well, it doesnāt really work so as of today Iāll be de-monetizing my previous posts and all posts going forward.
If youād like to help support my writing, you can always buy me a coffee, it really does keep me going.
You can also show your support by using my referral link to sign up for StockCharts.
Speaking of money, I know the economy is shite and inflation is friggin bonkers, so I recently cut back on my StockCharts subscription and went from the EXTRA package to the BASIC package. Sadly they really funk you on the basic package by only giving you ONE Alert and ONE Scan. But to combat that injustice, Iāve concocted a formula that gets you more bank for your buck!
What I did was take the two formulas Iām using the most right now and combined them into one. In theory you can do this with more than just two (as long as itās under the 8,000 max character limit) but Iāll be using the K.I.S.S. method on this one ā Keep It Simple Stupid.
All you need to do in order to combine formulas is use the OR code and have the right amount of brackets around each formula.
Hereās my current formula:
As you can see, the first part is my formula for finding stocks on my master watchlist that have found Support (orange box) and the second is my formula for finding stocks on my master watchlist that have been under 30 RSI for a few days (blue box).
The important thing to note, as I mentioned above, is that this will show results for two SEPARATE scans in one thanks to the OR command (pink circle). Now, if this said AND instead of OR it would only show stocks that are both under 30 RSI and have found support which is too narrow of a target to hit. But by all means use that if itās what youāre looking for.
I was also considering including a command to limit these to stocks whose price is also under the 200 SMA, but for now Iāll leave it as is.
Hereās the copy pasta version of the above formulaā¦
[[todays EMA(5) < todays SMA(20)]
and [todays MACD Hist(12,26,9) > yesterdays MACD Hist(12,26,9)]
and [todays Elder Bar Red is false]
and [yesterdays Elder Bar Red is false]
and [todays close > yesterdays close]
and [todays close < todays EMA(10)]
and [favorites list is 1] // Default
OR [[RSI(14) < 30.0]
and [yesterdays RSI(14) < 30.0]
and [2 days ago RSI(14) < 30.0]
and [favorites list is 1]]] // Default
I current use this for my 1 scan and my alert which is setup to email me at Market Close and continue running the scan each day. Hereās the settings for this option:
Now, since you were a good sport and read this far, hereās a couple charts that caught my eye todayā¦
iRobot ($IRBT)
iRobot stock, the creators of our eventual robot overlords the Roomba, is severely beaten down thanks for the buy out by Amazon falling through due to inevitable blockage by the EU. Their chairman and CEO also stepped down and each role now has interim replacements. No telling where the stock will go but the chart definitely piqued my interest.
Smile Direct Club ($SDCCQ)
Our old friend Smile Direct Club. Though the company filed for bankruptcy and is screwing over customers (see below) the stock is still moving and moving A LOT. Itās a penny stock now so these moves are massive! Look above at todayās 50% gains!!
Now this position is riskier than signing up for Smile Direct Club, but if youāre in that penny stock game, maybe keep it on your radar. But be aware the losses can move just as quick as the gains!!
Alright, thatās all Iāve got for right now. I gotta go switch off the āmonetize postā checkbox on EVERY POST INDIVIDUALLY so wish me luck, and again, if you want, send over some coffee love!
Trade long and prosper!
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