In the comments, Todd requested that I feature Energy Conversion Devices, Inc. (Nasdaq: ENER). So, here we go….
Two trades, for two wins. The move at the open was rejected due to volume pressure to the upside… looks like there was some buying pressure on the way down, either bottom pickers or short covering. The second move down was much cleaner from a volume perspective, and was picked off nicely. The long trade took its time, but did drift up without retracing much.
I’d say this was quite a nice performance from the simple stock system. I mean, it’s mechanical entries, after all, and it’s done quite well. I don’t cherry-pick the stock (Todd chose it), or the time frame (it’s chosen based on the 30-day avg volume), or the time of day (I always show the whole day), or the indicator settings (they are always the same). Just a couple of my eotpro indicators and a little common sense go a long way…