(2021-02-02, 11:56 PM)miche Wrote: I keep missing the breakout since I'm not always at the computer. Today I checked it at the open and everything looked normal and didn't get a chance to look at the charts until after the close and saw APHA was already up 17%. In this case would it be better to set a limit order at 13.18? But then how would you know the volume is coming in? Reading about multiplying volume by 4 if it's 10:30EST since 25% of session has elapsed. I guess I can aim for a fishhook for second chance. cheers
I'm not a fan of setting limit orders for pullbacks myself, as I want to watch the price action on a pullback to make sure that it and the volume are acting correctly. For early intraday volume I use the IBD charts, as it shows the volume compared to the 50 day average for the time of day. It's not perfect, but if it's 500%+ in the first 15 minutes, then you are more likely to have an above average volume day by the end of the day.
Personally, I use alerts. You do your homework in the evenings and know which few stocks you might want to trade if they go through a certain level. So I set an alert under that level and then I can quickly check the chart if it triggers, and enter if it looks right.
I entered TLRY myself at 21.26 earlier today https://twitter.com/stageanalysis/status...93064?s=20, which is merging with APHA in a few months or so. But lots of weed stocks in the watchlist again tonight, so a group move today as multiple broke out from their recent bases.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Cheers! Thanks I forgot to add an alert to this one. That's a nice feature from IBD - I have to start using it. I noticed VFF is on today's watchlist it's already broken out at 11.89% over 100% volume on IBD confused to why it's on the list since it already broke out?
(2021-02-03, 06:17 AM)miche Wrote: Cheers! Thanks I forgot to add an alert to this one. That's a nice feature from IBD - I have to start using it. I noticed VFF is on today's watchlist it's already broken out at 11.89% over 100% volume on IBD confused to why it's on the list since it already broke out?
The list isn't just breakouts, and stocks can provide many opportunities to get in. A big part of Weinstein's method, that's often ignored is pullback buys to the breakout level, and stocks already in Stage 2. So even if you have missed a breakout entry point, if a stock is showing the right characteristics then it should be on your watchlist for a potential pullback entry point to form.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
(This post was last modified: 2021-02-03, 04:36 PM by miche.)
RE: Stage Analysis Beginners Questions
(2021-02-03, 09:09 AM)pid=\17245 Wrote:Ok that's right many of these stocks are already in stage 2 and we're buying the consolidation breakout. So I'm checking out the volume this morning for VFF and APHA and it looks great over 200%. I can see the APHA is over extended and I'd wait for a pullback to the breakout level or breakout after new consolidation. For entry to VFF it's pulling back slightly today that could change so would I aim for until it trades below the first day close and then buy once it is able to reclaim that first-day close price 13.80? What would I look for on the 15min or 2hr chart? Thanks
(2021-02-03, 06:17 AM)miche Wrote: Cheers! Thanks I forgot to add an alert to this one. That's a nice feature from IBD - I have to start using it. I noticed VFF is on today's watchlist it's already broken out at 11.89% over 100% volume on IBD confused to why it's on the list since it already broke out?
The list isn't just breakouts, and stocks can provide many opportunities to get in. A big part of Weinstein's method, that's often ignored is pullback buys to the breakout level, and stocks already in Stage 2. So even if you have missed a breakout entry point, if a stock is showing the right characteristics then it should be on your watchlist for a potential pullback entry point to form.
(2021-02-03, 06:17 AM)miche Wrote: Cheers! Thanks I forgot to add an alert to this one. That's a nice feature from IBD - I have to start using it. I noticed VFF is on today's watchlist it's already broken out at 11.89% over 100% volume on IBD confused to why it's on the list since it already broke out?
The list isn't just breakouts, and stocks can provide many opportunities to get in. A big part of Weinstein's method, that's often ignored is pullback buys to the breakout level, and stocks already in Stage 2. So even if you have missed a breakout entry point, if a stock is showing the right characteristics then it should be on your watchlist for a potential pullback entry point to form.
Others may not have the same experience, but I'm finding that a limit order no more than about 2.5% above the breakout level can get me in a good position following a good quality breakout. Sometimes there is a brief pullback a day or two after a breakout. I don't leave these open for more than a week as in that time the stock or market could change direction making an entry any later not so good. Probably would not catch the stock you mention above, but sometimes it does. IF I've learnt anything its better to not be in than be in at the wrong price.
(2021-02-03, 09:50 PM)pcabc Thanks good tip - if it gaps up you can catch it. Yeah I agree and as I\m learning I'm more level-headed with entries as there's always another around the corner. Such a psychological game ;) Wrote:
(2021-02-03, 09:09 AM)isatrader Wrote:
(2021-02-03, 06:17 AM)miche Wrote: Cheers! Thanks I forgot to add an alert to this one. That's a nice feature from IBD - I have to start using it. I noticed VFF is on today's watchlist it's already broken out at 11.89% over 100% volume on IBD confused to why it's on the list since it already broke out?
The list isn't just breakouts, and stocks can provide many opportunities to get in. A big part of Weinstein's method, that's often ignored is pullback buys to the breakout level, and stocks already in Stage 2. So even if you have missed a breakout entry point, if a stock is showing the right characteristics then it should be on your watchlist for a potential pullback entry point to form.
Others may not have the same experience, but I'm finding that a limit order no more than about 2.5% above the breakout level can get me in a good position following a good quality breakout. Sometimes there is a brief pullback a day or two after a breakout. I don't leave these open for more than a week as in that time the stock or market could change direction making an entry any later not so good. Probably would not catch the stock you mention above, but sometimes it does. IF I've learnt anything its better to not be in than be in at the wrong price.
(2021-02-02, 11:56 PM)miche Wrote: I keep missing the breakout since I'm not always at the computer. Today I checked it at the open and everything looked normal and didn't get a chance to look at the charts until after the close and saw APHA was already up 17%. In this case would it be better to set a limit order at 13.18? But then how would you know the volume is coming in? Reading about multiplying volume by 4 if it's 10:30EST since 25% of session has elapsed. I guess I can aim for a fishhook for second chance. cheers
I'm not a fan of setting limit orders for pullbacks myself, as I want to watch the price action on a pullback to make sure that it and the volume are acting correctly. For early intraday volume I use the IBD charts, as it shows the volume compared to the 50 day average for the time of day. It's not perfect, but if it's 500%+ in the first 15 minutes, then you are more likely to have an above average volume day by the end of the day.
Personally, I use alerts. You do your homework in the evenings and know which few stocks you might want to trade if they go through a certain level. So I set an alert under that level and then I can quickly check the chart if it triggers, and enter if it looks right.
I entered TLRY myself at 21.26 earlier today https://twitter.com/stageanalysis/status...93064?s=20, which is merging with APHA in a few months or so. But lots of weed stocks in the watchlist again tonight, so a group move today as multiple broke out from their recent bases.
ISA, what are your thoughts on the drop that weed stocks have had over the last couple years versus their current gains? I personally am in one of these stocks, but I can see how they may have a hard time rising back to their peaks of two years ago?
Hey My partner is looking for an exit strategy regarding bitcoin. I mentioned SA investor method. However, in a bitcoin bull market it's normal to pullback 30-40%. Looking back at the Dec 2017 top you would have gotten out at 12631 since stop was set below the 30MA but the zero line and RS lines looked ok. Or 14979 when both price broke the 30MA and Zero line was rising above the
RS?
As of now I would place stop at 29,347? I'm looking at the daily chart. Cheers
