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“The fastest way to take a bath in the stock market is to try to prove that you are right and the market is wrong. Humility and common sense provide essential balance. The whole secret to winning big in the stock market is not to be right all the time, but to lose the least amount possible when you're wrong”-WILLIAM J O’NEIL
BOTH INDICES HAD TWO DAYS RALLIES WITH DECREESING VOLUME,WHICH MEANS THERE FEWER BUYERS LEFT.I THINK WE NEED PULLBACKS TO KEY MOVING AVERAGES (21 & 50) .THE INDICES ARE FAR EXTENDED FROM THE KEY MOVING AVERAGES.
NASDAQ COMPOSITE
S&P500
I USUALLY SELL LAGGING STOCKS AND ADD TO THE BEST MOVERS (LEADERS)
HERE ARE LIST OF STOCKS WHICH I HAVE BOUGHT OR I’M LOOKING TO BUY ONTO THIS WEEK.
MY STOCK PERFORMANCE RATING IS A+,A,B AND C WITH A+- BEING THE TOP AND C-BEING NORMAL
RATING: A IAM LOOKING INTO BUYING AMZN AS THE AMONG OF THE STOCK WHICH IS SHOWING STRENTH IN A CURRENT MARKET.
RATING : A .I DO HAVE A SMALL POSITION ON THIS AND THE STOCK IS CURRENTLY AT TARGET PROFIT.
RATING : B . I HAVE SMALL POSITION ON THIS ,REDUCED DUE TO PULLBACK
RATING :A .I HAVE A POSITION BUT THE STOCK IS CURRENTLY EXNDED
RATING: A I HAVE POSITION ON THIS. IPOs ARE RISK LEARN TO TAKE PROFIT ON STRENGTH
RATING: I HAVE A POSITION ON THIS AS ITS STAND AT THE PIVOT POINT
RATING: A NICE TIGHT ACTION ,WILL BUY ABOVE TRIANGLE/WEDGE
RATING: A .I HAVE A POSITION BUT THE STOCK IS CURRENTLY EXTENDED
RATING: B I HAVE SMALL POSITION ON THIS ,WE NEED VOLUME.
RATING: A I DO HAVE POSITION ON THIS ,GOOD PRICE ACTION SO FAR ,GIVE IT IME AS WE KNOW BIG MOVES TAKE TIME
RATING : B WE NEED VOLUME TO MOVE THIS STOCK UP ,I HAVE A SMALL POSITION
RATING: A .I HAVE A POSITION BUT THE STOCK IS CURRENTLY EXTENDED
TML FIVE TRADING RULES
1. Buy the stock as it break above base or trendline on above average volume
2. Sell -4% to 7% from buy point,intra-day
3. Take gains 20-30% above buying point
4. Use trailing stoploss to protect your gains
5. If you have three straight failure -4% to 7% ,stop buying and do postanalysis
THANK YOU FOR YOUR TIME
NB;ALL GRAPH/CHART IS FROM MARKETSMITH APP WHICH IS IBD TRADEMARK. You can join here : https://bit.ly/3nRmIzu
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