Prashanth,
Yes, they have refined the OOPS pattern a lot, but I personally would not like to do all that.
For me, I only follow those stocks for an OOPS pattern that are very liquid in Options :D
You must have seen all OOPs patterns I posted were in stocks having liquidity in options - Bharti / Rcom / Suzlon / HUL (giving away a trade secret here :D )
You are well aware that for options, the risk is very crucial, and an OOPs pattern gives a very well defined risk. You saw how HUL ca was 2.55 low on the day the OOPS happened. After the pattern was triggered, I bought it at 3.2, and the lowest it went was 2.8 - 2.9 - and hit a high of 5.3 today, and hopefully will do more.
I am not sure how much time one will have to spend identifying how many parameters of those filters they have given really match.
OOPs is a pattern that comes very rarely, and since it is at oversold or overbought zones, a bounce or a slide is imminent.
You only have to refine the exit.
AP
----- Original Message -----From: PrashanthSent: Monday, February 08, 2010 7:14 PMSubject: Re: [Technical-Investor] Rcom--updated
Couple of interesting points mentioned here. Whats your take on those AP,CheersPrashanth----- Original Message -----From: AbhijitSent: Monday, February 08, 2010 18:59 PMSubject: Re: [Technical-Investor] Rcom--updated
OOPs only gives an entry, with a very good SL.Exit has to be determined with the help of some other parameter.If the signal in on hourly tf, it works for 'x' hours, if on daily, 'x' days, if on monthly, 'x' months.All this while, the SL has to be refined with the help of other paramters (e.g. RCOM did give an OOPs buy 2 months back but fell back after being in profit - no point in letting the profit go away).Hope this is clear.Cheers,AP----- Original Message -----From: Deivanaathan A KrishnanSent: Monday, February 08, 2010 6:13 PMSubject: Re: [Technical-Investor] Rcom--updated
Dear AP,I have one query on the OOPS and though it will look silly but just to know the idea behind it.To some extent i understand the OOPS signal you had given with the materials already updated here in the forum, but when is the exit signal will be identified or till what time the signal is valid? Though you earlier said about the timing (based on the duration choosen for the chart it can vary) but till what time it will be treated its within the OOPS patternThanksDeiva----- Original Message -----From: AbhijitSent: Monday, February 08, 2010 5:54 PMSubject: Re: [Technical-Investor] Rcom--updated
Also, RCOM too is an OOPs buy when it opened near 159.Hope you people saw HUL today - 240 ca high 5.3.Cheers,AP----- Original Message -----From: Radhey Shyam MauryaSent: Monday, February 08, 2010 5:25 PMSubject: Re: [Technical-Investor] Rcom--updated
hmmm, A close around/above 50d sma.Thanks a lot.
Happy Investing,Radhey Shyam Maurya
From: Abhijit <ap19632000@yahoo.com >
To: Technical-Investor@yahoogroups. com
Sent: Mon, 8 February, 2010 5:01:18 PM
Subject: Re: [Technical-Investor] Rcom--updated
Watch out for a close above 175.AP----- Original Message -----From: Radhey Shyam MauryaSent: Monday, February 08, 2010 4:58 PMSubject: [Technical-Investor ] Rcom--updated
Rcom -updateClosed @ 169=7dma. If next candle closes above trendline, It may achieve these averages and ressistances.SMA-50: 176.53, EMA-50: 181.31. Next ressis. 185 around.Provided a small pullback happens in nifty (i.e. upto 4880,4930/50) .All Bottom indicator (chart attached) turning positive.Group Members, now onwards critics/comments are mandatory.Happy Investing,Radhey Shyam Maurya
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