The revised target is $65.90 as of today.
We entered our “Stock of the Week” sort sale in XHB today. Our target today is $15.40. Chart is below:
In short Autobot uses a large set of time series to analyze individual equities, etf’s, futures, and forex. We use 10. For Autobot to get an actionable signal, 10 time frames must line up according to our measurements of price extreme’s. As well, they must line up from a fractal perspective. For example, if Rimm showed "double tops" in RIMM on 10 time frames, Autobot would be interested. We scan 70 instruments. These are based on liquidity measures and underlying beta. The system has two components, the most used (markets trade sideways more than trend from time perspective) is a counter trade modality, with the idea that at extremes, price will return to the mean. The other component is a trend system using the same fractal parameters as the counter trend but forces pullbacks in the trend to price extremes to line up on those same 10 time frames. Both RIMM and XHB were entered in counter trend mode.
In short the Autobot looks through time and price. These are the only components used in the Autobot. For many years we tried to use indicators but as I have mentioned here before, we could not code the complexity the subconscious filters our brain identifies as being important in different market conditions. Indicators work of course, but when they don’t you better know when prior to taking trades based on there outputs. We have spent many years engaged full time in this project and one of the most interesting lessons learned is just how powerful the subtle perceptions our brain uses to make simple decisions.
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