I've got a half baked trading scheme that I thought I'd put out there for flammatory comments by experts - who know stacks more than me.
The past few weeks I've been scraping live data to identify some buying opportunities.
What I've been looking for are stocks with a daily turnover of over $1M with very high buying to selling ratios and following them.
MSB is an example of that - for the past few days at least it's consistantly had roughly 300% more buys than sells, and its steadily rising in price.
The other sort of stocks I look at are those that are bottoming out and at their lowest ever point for some time - CVN, HST and ERA are examples I've identified. As they bottom out the buy/sell ratio is strongly negative. When they bottom out that's when the the ratio turns around. I bought CNV a few days ago at 0.21 - the point that buyers came in - a few days later the ratio is still at about (150%) and the stock has gone up almost 20% - I'll sell it when the ratio goes below zero.
HST bottomed out 29 April and now has very strong ratio (250%) and has gone up roughly 40% and ERA looks to me as if it's still got some time to go before it bottoms out (-30%) - I'll keep watching.
Is this trading scheme totally half baked and idiotic?