Stage Analysis Forum - Trading & Investing using Stan Weinstein's Stocks Breakout method
US Stocks Breakouts & Breakdowns - SP500, NYSE, & Nasdaq Stock Charts - Printable Version

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RE: US Stocks - Watchlist and Discussion (Premium) - isatrader - 2015-01-12

HTCH - Stage 1. Potential for a Stage 2A breakout attempt. Large inverse head and shoulders pattern developing.

           

RE: US Stocks - Watchlist and Discussion (Premium) - isatrader - 2015-01-12

VLRS - An early Stage 2A breakout attempt, which is still within it's weekly resistance cloud.

Note on the daily chart the recent steepness of the various moving averages, which are just turning around. Hence highlighting the early nature of this Stage 2A breakout attempt.

           

RE: US Stocks - Watchlist and Discussion (Premium) - isatrader - 2015-01-12

DVAX - Stage 2A breakout attempt with near term resistance to still to get through. Relative performance has broken above the zero line and the daily volume is over 2x times the average so far. So we'll see if that continues and makes the weekly 2x requirement later in the week.

           

RE: US Stocks - Watchlist and Discussion - Amedee - 2015-01-12

[/quote]

It's made a Stage 2 continuation, but the volumes fairly weak still. For continuation breakouts from a significant consolidation like that one you ideally want to see at least 3x the average daily volume on the breakout day, and then the 2x weekly average volume requirement by the end of the breakout week. So yes, it's back in Stage 2 and may go higher from here, but it is not showing any energy to go significantly higher via a change in the recent volume. And one of the main components of Weinstein's method is to consider is the opportunity costs (see page 97 in the book) of any trade you are considering.
[/quote]

Thanks for pointing out about the opportunity costs. I re-read that part, interesting enough! In P&F charting they say you always have to look left (on the chart). That way you can see the resistance or support zones.
That's a point that, in my opinion, speaks in the advantage of DEPO. Apart from the volume, it enters 'virgin territory'. I mean, it starts trading above resistance zones so it could become even more interesting.
   
   
In other words, I wonder if the advantage of virgin territory doesn't compensate for the lack of volume. Weekly volume was of little meaning but daily volume was 1.795.029 in stead of 400.000 - 800.000... I wonder, can weekly volume pick up this week, because the breakout was near the end of the former week?
Another advantage is the price objective for DEPO which is $27. This gives us, when buying at $17, a RR of 4!
- PO or price objective = 27 - 17 (price bought) = $10 reward
- SL or stop loss = 14.5 > 17 - 14.5 = $2.5 risk
- RR or Reward to risk = 10/2.5 = 4
And besides volume and virgin territory, I also like the P&F RS chart which is giving a spread triple top buy signal (another strong sign).
   
We will see Undecided

PS I am trying to insert the printscreens in this post. I hope it works out (it doesn't show up in the preview) Blush

RE: US Stocks - Watchlist and Discussion (Premium) - Amedee - 2015-01-12

(2015-01-07, 08:52 PM)isatrader Wrote: My personal game plan with this one is to keep an eye on it until Friday, and then make a decision during the trading day as to whether I will put on a position or not. But it does look interesting so far this week.

Did you buy MIFI? I usually don't buy stocks less than $10, so I wasn't following it but it broke out... What a timing Angel

RE: US Stocks - Watchlist and Discussion - isatrader - 2015-01-12

(2015-01-12, 10:26 PM)Amedee Wrote: Thanks for pointing out about the opportunity costs. I re-read that part, interesting enough! In P&F charting they say you always have to look left (on the chart). That way you can see the resistance or support zones.
That's a point that, in my opinion, speaks in the advantage of DEPO. Apart from the volume, it enters 'virgin territory'. I mean, it starts trading above resistance zones so it could become even more interesting.

In other words, I wonder if the advantage of virgin territory doesn't compensate for the lack of volume. Weekly volume was of little meaning but daily volume was 1.795.029 in stead of 400.000 - 800.000... I wonder, can weekly volume pick up this week, because the breakout was near the end of the former week?
Another advantage is the price objective for DEPO which is $27. This gives us, when buying at $17, a RR of 4!
- PO or price objective = 27 - 17 (price bought) = $10 reward
- SL or stop loss = 14.5 > 17 - 14.5 = $2.5 risk
- RR or Reward to risk = 10/2.5 = 4
And besides volume and virgin territory, I also like the P&F RS chart which is giving a spread triple top buy signal (another strong sign).

We will see Undecided

Yep, it does have a lot of positives, and fits 80% of the methods criteria. So good luck with the trade.

RE: US Stocks - Watchlist and Discussion - shaunattwood - 2015-01-12

Amedee,
Loving your biotech selections, with big recent volume spikes like CLDX and INFI. BTK is storming ahead: definitely the bull sector.

RE: US Stocks - Watchlist and Discussion (Premium) - isatrader - 2015-01-12

(2015-01-12, 10:55 PM)Amedee Wrote: Did you buy MIFI? I usually don't buy stocks less than $10, so I wasn't following it but it broke out... What a timing Angel

No am watching closely, as the price from when I first highlighted it last Tuesday morning moved over 20% higher and closed the week very strongly. So it was too extended to buy on Friday for me, and hence I'm now looking for a minor pullback in the next week or so to get in at a better level for my stop loss distance (see attached 2 hour chart with my target entry zone highlighted in blue). But if the strength continues, then I might need to have much more patience to wait and see what happens on the first significant pullback in the coming months.

The strongest Stage 2A breakouts can be tricky to get into, as they can stay extended for many weeks and then don't pullback much. So you have to be nimble once you see one that you think has the right stuff.

I prefer the small caps personally these days, and generally buy stocks in the $2 to $15 range, as I find they have a better chance of 100%+ move that I'm looking for, and mitigate the additional volatility of the smaller stocks with my ATR position sizing method, that I explain in my journal thread.