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28-Aug-08
SKF: High Probability Setup
I thought about giving this post the title of “Don’t Think; Buy SKF.” My superstitions got the better of me.
The facts are that this setup has appeared 15 times over the life of (SKF: 116.75 -7.63%) . Had it been bought at the next market open following the setup, 12 of the trades would have been winners, for an 80% win rate. The rule has SKF sold the next market open after RSI(2) closes above 80.
Here are the stats from all the trades.
Each trade was 10,000 and a 10% stop was used. Note the average trade, both winning and losing, lasts about 5 days.
SKF is at a critical level here. If this trade fails, and SKF breaks support, it could get very ugly. A stop must be used.
Tagged Stocks: SKF
Posted at 18:57 in External Blog | Permalink | Comments () | Top
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