Got mine preordered. Whatever shares you get on that are basically free money but they just don't give enough. Sounds like there's going to be a pretty big Pounce on the play [Reply]
Got 1000 at 5.37 to 5.73. Held for precisely 10 seconds. Too scurry for me, not used to plays without chart histories for key levels. Wouldn't normally touch an IPO with a ten foot pole, but low-float trash IPOs are the hottest sector right now, so I took a yolo. Nice little wallet-padder on some midday degenerate action. [Reply]
Looks like a good trade. I'm not trading today. Letting funds settle for tomorrow. And yeah, I pulled it up on Webull and there were no tickers. That would be difficult [Reply]
Originally Posted by JohnnyHammersticks:
Got 1000 at 5.37 to 5.73. Held for precisely 10 seconds. Too scurry for me, not used to plays without chart histories for key levels. Wouldn't normally touch an IPO with a ten foot pole, but low-float trash IPOs are the hottest sector right now, so I took a yolo. Nice little wallet-padder on some midday degenerate action.
was there any group pushing this one ? The ones I've been playing have a "Pounce group." [Reply]
Originally Posted by lewdog:
My man here's been posting about using VCP and trading strategies that I use from Mark Minervini. Figured I'd post some here as examples.
Here's a rough example, although with the few days of large sell offs this week, I would hesitate to force any trades right now as the number 1 rule is capital preservation.
Hopefully you can open this up enough to see it.
SAVE. Consolidating nicely for about a month. The outlier of this is 7/28 where the price jumped to 25.67 so excluding that for this example. Over 200k volume allows this to be a liquid trade and I do not trade anything with lower than 200k volume.
Using this strategy, you want to catch a stock moving up, not guessing it's reached a bottom. So I would set a buy point for the high point of this consolidation so I catch the "breakout" of this stock moving up. The price of this buy point is 25.01 as this stock reached a high of 25 on 8/15 and 8/16. The technical stop of this would be the lowest price of this stock at the end of this consolidation, which would be 23.92 on 8/19. Instead of setting this stop right at that point I take 23.92 x .999 so we are right below that = 23.89 is my stop.
Buy at 25.01 and stop at 23.89 makes the risk:
25.01-23.89 = 1.09/25.01 = 4.4%. This is a fairly low risk trade.
Now in really choppy markets, the stop of a trade may simply just be the low of the day before or the intraday low of that current trading day. The stop depends on market conditions. In a really good bull market, I may have a risk of 10% as I want to allow the stock to fluctuate without getting stopped out.
I seemed to have recalled you mentioning that author a long while back in another stock thread. When you guys started talking about him again, I figured I'd give it a shot since the steps you were discussing intrigued me. Ordered the book on Amazon the other day and it showed up tonight. I'm only into the first chapter, but I like the guy already. Here's hoping I learn something. [Reply]
Originally Posted by rydogg58:
I seemed to have recalled you mentioning that author a long while back in another stock thread. When you guys started talking about him again, I figured I'd give it a shot since the steps you were discussing intrigued me. Ordered the book on Amazon the other day and it showed up tonight. I'm only into the first chapter, but I like the guy already. Here's hoping I learn something.
That's great!
He makes is very easy to understand and he takes the emotion out of it. If you have questions as you read, please ask. [Reply]
