Reader Quentin asked to see the chart for McDermott International (NYSE: MDR) yesterday. So, here it is! As I mentioned yesterday, I plan to show the whole day when I do these, so that I am not accused of cherry-picking. I plan to just use a couple eotpro indicators, and use very simplistic entry and exit criteria. Basically, you enter on pullbacks to the moving averages, if the volume pressure and the paintbar colors agree. You get out the first time the color on the volume pressure indicator changes.
A real human could no doubt do better than this ultra-simple criteria… especially when it comes to choosing exits. A big chunk of the uptrend was missed because of a single red volume pressure bar. But, I want to make it as clear as possible that I’m not fudging the results. And, I think, the results are very nice! No losses on this stock, for a gain of $1.26 per share or so.
The MDR charts:
| Stocks Mentioned In This Article | |
|---|---|
| Stock | Links |
| MDR |  |  |  |
