3309 Drysdale Ct
Edwardsville, IL 62025
Yeah, this has been a great trade. Making up for my poor
entry on HLX...
Yeah, exited awhile back. Downside of not being able to manage
more than 8-10 positions is that I don't keep very small positions
to let them run like this; I close to make room for something new.
I don't like putting in stop orders on bigger positions, but
may need to think about doing that just in these situations so I
can leave a little to run.
LPI - absolutely unstoppable. Long ago exited, but it
continues to ignore resistance.
Similar here, smaller position size is very helpful - it enables
the repeated experience and positive reinforcement of being able to
hold through a pullback and riding price back up.
A couple of issues that I experience... if stocks are bouncing
after stopping you out, are your stops too conservative given the
typical trading range of the stock (and logical support)?
That happens to me when I take too big a position and try to
manage risk by setting stops tighter than what price actions
indicates is a reasonable stop.
I used to consider max % loss when planning my stops. For
me, doesn't work so well. Now I more often think about max $
loss. If I'm going to get uncomfortable if I'm down $300 on a
single position, and a logical stop is 4% below current price, then
I shouldn't be taking a position that exceeds $7,500. If the
logical stop is 6% below current price, then max position size
should be $5k.
I also look at average daily moves of a stock. If
something is high beta and moves 5, 7 or 10% on a regular basis, I
have no business getting into it if I feel my stop has to be just a
few % lower than current price. One average intraday move
could stop me out. I'm more confident and trade better when
taking positions that would require at least a couple days' worth
of avg. decline to stop me out.
GE - breaking over the downtrend line from early June. Put
in a higher low yesterday. 60min chart.
HLX - very interesting comparison to LPI which has doubled since
mid-May. HLX looking poised to do something similar,
LPI took off after it broke over resistance that went back to
last Nov. HLX has a similar chart, and is just now
approaching that resistance from below. Obviously different
companies with different products/services; just noting the
similarities in the technical setup.
I took a sizeable position this morning, a little after that
pullback. Looking to add upon BO.
Agreed. Some think it's bearish, some think there's value
in reducing the number of shares. Who knows. Maybe Culp
gets a bonus when the stock gets above $100.
TLRY and CRON - liking these charts. A lot of the pot
stocks are smokin' after a months long drop/consolidation.
GE was mentioned here awhile back. It's one I trade
regularly in addition to a core IRA position. As FYI, there's
a reverse 1:8 split coming up on Aug 2nd, two weeks after earnings.
Dividend pays out tomorrow. Back up your piggie bank for
GOLD stocks... obviously very banged up, many VERY oversold.
Scanning my charts for the best looking patterns.
AEM and KL both have inverse H&S, are just completing the
right shoulder formation and haven't yet gone green like many
others. Potential low-risk entries. Pattern
targets are attractive as well: AEM - 20%; KL - 27%
Yes, closing inside the BB is the signal, but not the
confirmation. The note in the chart says, that to
confirm, the close the day after it re-enters the BB must be lower
than the close on the day of the reentry. Can always go long
on the signal if the market is feeling strong instead of waiting
To confirm, we'd still need a close tomorrow that is lower than
today's close (w/in the BB), is that correct?
BPT update - pulled back to the 9EMA last Thurs, nice bounce on
Friday with follow-through today.
Ding! 4166. If we had hit that mid-day, bounced and
ended up, I'd be feeling more bullish. Don't like that we
dribbled down and ended near LOD. Also no neg divergence on
the 30 or 60min; setting up a little on the 15min.
Closed out my ENPH for 18% gain. Was going to leave a
little to run but things feel pretty squishy. Kept my FLUX
though - saw 50% higher volume on today's move, so feel okay that
it can hold up even if market is down on Mon.
GDX at the .618 now, which is also former resistance turned
support. Also closed the gap (1hr chart) from Apr 30.
Low-risk entry for a bounce or swing trade, but I think I'm done
with PMs until they exhibit strength. Better risk/reward
opportuities out there.
UEC. I posted recently as a bullish coil (pink), but
wanted to update with an alternative interpretation - a bearish
rising wedge (blue). With MAs pointing down, crossing over
bearishly, I'm favoring the wedge interpretation. No
position at this time.
ENPH - for anyone that played this from last week, it has just
about closed that open gap. Been a killer trade. Will
be taking some off, letting some run. Beyond the gap, next
resistance is the prior high at $175, so about 5% higher.
FLUX finally showing some follow through. May roll some
ENPH profits over here to add to my position.
UUUU - sold last week and monitoring for reentry, but not liking
how the MAs are pointing down with 9 crossing down over the 20.
If it doesn't sustain this bounce, it may revisit the lower
Maybe one more push down to 4168, then bounce...?
FLUX... looks ready to join the ENPH and SPWR party.
Posted this on the 10th; it has lagged the others, but the
setup still looks great. Low volume stock.
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