The community is delayed by three days for non registered users.

Took a look at the

Finviz Scanner

Posted by RichieD on 21st of Jun 2023 at 05:01 pm

Took a look at the scan list this morning.  Made a short list of five to watch (probably too many).  Traded two (UCAR and PCT).  Made a few dollars but still learning.  Most of these stocks move quickly in either direction. Learning to trust the patterns, trust my instincts and keep stops tight...though I suspect it's better to give them more room for a bigger payday. Any specific tips, Matt?

I agree about Google. Bought in at $110.75...sold yesterday at $124.  Haven't liked the feel of the stock since it produced that big red candle on the daily chart (after making a new high) about 2 weeks ago.

Gap higher at the open

Posted by RichieD on 16th of Jun 2023 at 09:48 am

Gap higher at the open then big red candle with huge volume on the 5 minute chart for NVDA, META, MSFT, AAPL and GOOG.  Anything to that? ,

For June ("the week after June week 3") I assume he means the trading week that follows the third trading Friday of the month. Is that right?

Gutsy move buying NVDS and TSLS ahead of today's Fed's action/inaction and statement.  Did you buy because the underlying stocks are extremely overbought and it's inevitable that they come back to reality?  My instinct says to do the same, but I can't see a trigger on either chart.  

I did as well.  Placed

CCCC

Posted by RichieD on 13th of Jun 2023 at 11:09 am

I did as well.  Placed my stop at $3.47 - one cent below 9 EMA.  Is that about right or not giving it enough room?

Even more entertaining: Watching Digital

Woke analysis

Posted by RichieD on 12th of Jun 2023 at 04:34 pm

Even more entertaining: Watching Digital World Acquisition Corporation (DWAC), which is/was supported by the anti-Woke crowd, get crushed and tumble from an opening day high ($175) to today's close ($12.79) in just 20 month's time.  

Can we please keep politics off of BreakPoint Trades?  

Still a fickle market.  Would rather be out early with a profit than overstay my welcome.  I use 5 minute charts when I'm in for a trade.  Entered XMTR Friday, rode the 5 minute candles up today, then when I saw a gravestone candlestick about 30 minutes ago followed by a red candle, I put a tight stop and was taken out at $23.32. Made good money, I'm okay if it makes another run without me.

Matt, Can you please discuss

SYM Kaboom!

Posted by RichieD on 7th of Jun 2023 at 10:20 am

Matt, Can you please discuss in an upcoming newsletter when it's best to buy inside the pattern and when to wait for a break of the coil?  
This gapped at the open and I didn't get my stop limit order filled.  Have been burned in the past buying early (inside the pattern) and may be playing  too conservatively.

Had an order in just

SYM coiling

Posted by RichieD on 7th of Jun 2023 at 10:02 am

Had an order in just above the pattern; missed it when it gapped at the open.

Matt or Steve, can you remind me how to identify a gap and go situation such as SYM today?  I usually wait for the break with coiling patterns and don't generally chase gaps.

Thanks for the plethora of trade ideas, Matt.  Just curious why OABI, with its extended base, hadn't popped up on your screen prior to breaking out yesterday. Or did I miss earlier mention of it?

Seems to be plenty of

CANO follow up

Posted by RichieD on 23rd of May 2023 at 05:48 pm

Seems to be plenty of liquidity.  What would typically cause such a sharp spike down followed by a quick reversal - one large seller trying cash out of a position all at once at market price?  

Excellent charts.  Thank you.

"Each time they tell us

GOP walks out of talks.

Posted by RichieD on 19th of May 2023 at 03:22 pm

"Each time they tell us it's going to be the end of the world, and each time it isn't".  Perhaps not for you or I, but tell that to the millions of senior citizens who paid in over a lifetime and whose only source of income is their monthly social security check.  Wish people weren't living that close to the edge, but many are.

Lawrence Tribe disagrees with you about the 14th amendment.  Not knocking your knowledge or wisdom, but on this one I'll go with Tribe.

Assuming both sides do not

GOP walks out of talks.

Posted by RichieD on 19th of May 2023 at 02:27 pm

Assuming both sides do not want the country to default, what exactly are the Republicans offering...and where we they the three times trump  wanted to raise the debt ceiling? Sounds more like a hostage negotiation than anything else.

HALO - Take the trade

Posted by RichieD on 19th of May 2023 at 07:50 am

HALO - Take the trade here (inside the pattern) with a stop at $32.12 or on a breakout of the  pennant around $34.28?

Speaking of gold, what am I missing here?  Rumors that the debt ceiling will be raised should be bullish for gold.  After all it just means the US will borrow more...or in symbolic terms, "print money".  Similarly, if the debt ceiling is not raised and the US defaults, the dollar will drop and the value of gold should rise.  In either scenario gold should be strong...and yet it's not.  What am I missing?

Matt: Great newsletter, as always.

Posted by RichieD on 16th of May 2023 at 08:23 am

Matt: Great newsletter, as always.  

With regard to UXIN, you mentioned you'd like to buy back in, but did not indicate what strategy you might employ?  Right here at yesterday's close ($1.55)?  On a pullback to the 9 EMA?  On strength above yesterday's close?  Some guidance would be appreciated; these low priced stocks are tricky.  

KALA - Anyone still following

Posted by RichieD on 11th of May 2023 at 06:44 am

KALA - Anyone still following this stock?  I do from time to time.  Still amazed at the move and the volume in late December.  

Caught a majority of the spike in early March and again in early April (in and out same day).  Bollinger bands tightening; stock in a narrow trading range on extremely light volume.  Sensing this is likely to spike again without warning.  I'm inclined to put in an open stop limit order to buy $1.00 above the current price in the hopes of catching a big move higher if it materializes.  Any downside to doing so?  Other ideas or thoughts?

Thanks, Matt.  In your opinion, which is the better play regarding ROIV:  buying a break of the blue downtrend line or waiting for a break of the horizontal resistance?  Suspect you will say the former is more aggressive, the latter more conservative. 

Newsletter

Subscribe to our email list for regular free market updates
as well as a chance to get coupons!