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I don't have one nor did I find one on the web.
However, I used a Counter-Trend Scan developed by
Matthew Claassen for StockFetcher; it picks up dead
cat bounce in this scan plus others. This scan
produced 36 stocks yesterday's close. YCC BTH SCST
DIGE were some of the candidates;look at charts and
see if that's the pattern you are looking for, and if
so just follow the explanation and parameters below.
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Counter Trend Set-up for Short Trades
This set-up is to be used when the overall market or
major market sector is in a down-trend. For a short
trade we are looking for stocks that are weaker than
the market, are in a confirmed down-trend and have
rallied for at least three day's on lower volume.
Preferably, we want to identify stocks that are
rallying up to their 20-day exponential moving average
(EMA). The 20-day EMA is often a point of resistance
for minor counter trend rallies.
Once we have identified a candidate we wait for a
close below the previous day's low as our signal to
enter a short position. For short-term traders a
trailing stop should be considered. I prefer to place
a stop on a close above either previous day's high or
the high two days ago.
Use stocks whose price is over $10 per share, with
30-day average volume greater than 50,000.
Find a stock whose 20-day Rate of Change (ROC) is less
than the 20-day ROC of the Russell 3000.
Whose ADX (14) > 20 and (-DMI > +DMI)
Close < Close 20 days ago
Close < 20-day exponential moving average (EMA)
Close > (20-day EMA - .10*20-day EMA) - Looking for a
stock that is near its 20-day exponential average.
Today's Low > the Low 3-days ago
The 3-day moving average of Volume is less than the
3-day moving average of volume 3-days ago. AND On
Balance Volume < its 30-day EMA
--- zillig20002000 <anietrade@gmx.de> wrote:
> Hi,
> any suggestion to develop a systemtest for a kind of
> "Dead cat
> bounce"-Strategy?
> Thanks
>
>
=====
Dave Tolbert
Blue Skies!
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