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    Pullback Stock Scans
    These scans can be used to find stocks which are pulling back (up or down) in the short term against a longer term trend in the opposite direction. The "up / down x days in a row" scan are exactly what they sound like, but their parameters can be tweaked or they can be used in a combo scan in order to identify stocks which are actually pulling back (retracing) as opposed to continuing to rise or fall in a major uptrend or downtrend.
    Name Description
    1,2,3 Pullback Bullish Rules (via 'Hit & Run Trading'):
  • ADX must be more than 30 and the +DI more than the -DI.
  • Three consecutive lower lows or any combination of 2 lower lows and an inside day.
  • For the buy: tomorrow only, buy 10 cents above today's high.
  • Initial stop: near today's low.
  • Thereafter, use a trailing stop.
      		•
      1,2,3 Retracement Bearish Rules (via 'Hit & Run Trading'):
    1. ADX must be more than 30 and the -DI more than the +DI.
    2. Three consecutive higher highs or any combination of 2 higher highs and an inside day.
    3. Tomorrow only, sell short 10 cents below today's low.
    4. Initial stop: near today's high.
    5. Thereafter, use a trailing stop.
        		6.
        Hot IPO Pullback Rules (via 'Hit & Run Trading II'):
      1. Stock must trade at least 15% above its offering price within its first five days of trading.
      2. Then wait for a two - to - four day pullback. This could be any combination of lower lows, lower closes, inside days, etc.
      3. After the second, third or fourth pullback day buy 5 cents above the previous day's high.
      4. Place your initial protective stop at the previous day's low.
      5. Hold the position from one to five days using trailing stops.
          		6.
          Non-ADX 1,2,3,4 Bearish Rules (via 'Hit & Run Trading II'):
        1. Stock must be below its 50-day moving average.
        2. Three consecutive higher highs or any combination of 2 higher highs and an inside day.
        3. Tomorrow only, sell short 10 cents below today's low.
        4. Initial stop: near today's high.
        5. Thereafter, use a trailing stop.
            		6.
            Non-ADX 1,2,3,4 Bullish Rules (via 'Hit & Run Trading II'):
          1. Stock must be above its 50-day moving average.
          2. Three consecutive lower lows or any combination of 2 lower lows and an inside day.
          3. For the buy: tomorrow only, buy 10 cents above today's high.
          4. Initial stop: near today's low.
          5. Thereafter, use a trailing stop.
              		6.