davesaint86
725 posts
msg #148513
- Ignore davesaint86
modified |
7/14/2019 1:39:43 PM
Just my opinion -
1. Make sure the overall US Market is in an uptrend
2. Only buy stocks where the relative strength is greater than the S&P 500. Also, is the sector that this stock in breaking out of stronger than the S&P 500? Plot out the support and resistance levels on the monthly and weekly charts. Use two different colors (between monthly and weekly)
3. Then - buy stocks coming out of a consolidation basing pattern where price is over the 30 week moving average (First check the monthly chart - make sure an upward trend has started?
4. If you can buy stocks where there is not a lot of overhead resistance nor no resistance close by - you want to buy stocks that have the highest probability of making the biggest gains
5. Sell when the stock closes below the 30 Week moving average
Here is an example of GLD (Monthly Chart). I'm showing this monthly chart instead of the weekly chart because it shows the big picture. The weekly would have triggered a sell signal earlier.
https://www.tradingview.com/x/LM5TDZEW/
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ron22
255 posts
msg #148514
- Ignore ron22 |
7/14/2019 2:16:24 PM
davesaint86, Thank you for your thorough and detailed reply. Members should consider applying criteria 1,2 & 4 to all of their filters.
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Mactheriverrat
3,157 posts
msg #148517
- Ignore Mactheriverrat
modified |
7/14/2019 7:46:58 PM
Great monthly davesaint86
The weekly
GLD
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davesaint86
725 posts
msg #148519
- Ignore davesaint86 |
7/14/2019 8:12:14 PM
Thank you very much Mac!
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davesaint86
725 posts
msg #148520
- Ignore davesaint86
modified |
7/14/2019 8:37:45 PM
https://www.tradingview.com/x/LXbEAF5r/
Put in your watchlist for the future. Might be able to eventually get a 100% two year run like you see between the two red vertical lines.
Monthly - Plenty of resistance going up. One can still make money though.
https://www.tradingview.com/x/Dj8jRpUi/
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nibor100
1,044 posts
msg #148575
- Ignore nibor100 |
7/18/2019 3:28:09 PM
The used copy of the book finally arrived in this afternoon's mail and inside the front cover was an inscription made out to Ed signed by Stan Weinstein back in 1992. Who knows, the book may already worth the $5.50 I paid for it!
The reading/analysis begins....
Ed S.
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shillllihs
6,046 posts
msg #148577
- Ignore shillllihs |
7/18/2019 6:34:42 PM
This goes up in a bull market and down in a bear market just like anything else. Now what.
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Mactheriverrat
3,157 posts
msg #148578
- Ignore Mactheriverrat |
7/18/2019 8:31:23 PM
Now what?
You use it which ever way your trading.
You can even use it with your
UGAZ TQQQ KSS TMV GUSH.
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Mactheriverrat
3,157 posts
msg #148707
- Ignore Mactheriverrat
modified |
7/27/2019 10:53:17 AM
Interesting book. Endless possibilities.
IMHO.
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karennma
8,057 posts
msg #148713
- Ignore karennma |
7/29/2019 10:38:00 AM
The used copy of the book finally arrived in this afternoon's mail and inside the front cover was an inscription made out to Ed signed by Stan Weinstein back in 1992. Who knows, the book may already worth the $5.50 I paid for it!
The reading/analysis begins....
Ed S.
=====================
That's destiny!
$5.50 was cheap.
Where'd you get it?
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