Mike Scott Webinar Today

[Mike]

I will be conducting a free online webinar today at 1:30 PM California time. It is part of a new IBD effort called a National Investors Business Daily Meetup. Many people live in remote areas and don't have a meetup to join so this will run something like monthly to serve a wider audience. Different Meetup leaders will conduct the webinars in the future. In case anyone is wondering, I receive no compensation for these efforts nor do I advertise any services. Today I will review the general market, then talk about how I manage a portfolio with an example of how I handled TSLA last year for 130% gains.

To Join the Webinar:

Please join us this Friday for a special webinar and forward this invite to all your Meetup members.
IBD National Meetup Webinar

Join us for a Webinar on May 2

http://img.gotomeeting.com/g2mimages/webinar/themes/basic/button_registerNow.gif

Space is limited.
Reserve your Webinar seat now at:
https://www4.gotomeeting.com/register/784146087

Please join IBD and Thousand Oaks, CA Meetup Leader, Mike Scott, for a special webinar.
Title: IBD National Meetup Webinar
Date: Friday, May 2, 2014
Time: 1:30 PM - 2:45 PM PDT
After registering you will receive a confirmation email containing information about joining the Webinar.
System Requirements
PC-based attendees
Required: Windows® 8, 7, Vista, XP or 2003 Server

Mac®-based attendees
Required: Mac OS® X 10.6 or newer

Mobile attendees
Required: iPhone®, iPad®, Android™ phone or Android tablet

See you there!!!!
- IBD Meetup

[Wei]

Hi, Mike

Thanks a lot for the webinar. It's great to see how you manage and trade the stocks. I am wondering if it's possible to get a copy of your slide so that I can learn more and study it.

Thanks,
Wei

[ilonaross]

Hi, Mike.

I was gone yesterday and didn't even know about your presentation until just now. Is it archived anywhere for people to view at a later date?

tnx

ilona

[Mike]

Hi, Mike

Thanks a lot for the webinar. It's great to see how you manage and trade the stocks. I am wondering if it's possible to get a copy of your slide so that I can learn more and study it.

Thanks,
Wei

Wei, the presentation will be archived for replay on IBD TV on investors.com. However here is a link to the slides:

https://dl.dropboxusercontent.com/u/71155181/National%20Meetup%20April%202014%20Mike%20Scott.pp t

This link will be good for a few weeks.

[Wei]

Mike, Thanks a lot!

Wei

[adam ali]

Thanks, Mike.

Adam

[Pascal]

Mike,


In your slide 21, you state the bar count rules.
Where do you start that bar count?

Can you provide a few typical rules of where to start?
For example," since the high before the previous pull-back started" or "max past 20 days."

The bar count summation will be different depending on the starting point.

Also, are recent patterns more important than past patterns? For example, if you count 20 days, are the last 5 days more important than the previous 15 days?


Pascal

[Mike]

Mike,


In your slide 21, you state the bar count rules.
Where do you start that bar count?

Can you provide a few typical rules of where to start?
For example," since the high before the previous pull-back started" or "max past 20 days."

The bar count summation will be different depending on the starting point.

Also, are recent patterns more important than past patterns? For example, if you count 20 days, are the last 5 days more important than the previous 15 days?


Pascal

Pascal, The bar count starts at the beginning of a base formation. The beginning of a base is the first down week after a closing high and counts up to but not including the breakout week which is possibly the breakout above a handle formation or a move to a new high in case of no handle. Minimum length of a base is usually 7 weeks however flat bases can be 5. Cup formations can be as much as 65 weeks.

The whole process is to help gauge whether institutions are accumulating or distributing. How the price closes at the end of the week helps tell what they are doing. As such more recent bars on the right side of the base are more important than the left. The method I described makes no such discrimination however it is a subtly that I might bring into a close call.

[barbados11]

Pascal, The bar count starts at the beginning of a base formation. The beginning of a base is the first down week after a closing high and counts up to but not including the breakout week which is possibly the breakout above a handle formation or a move to a new high in case of no handle. Minimum length of a base is usually 7 weeks however flat bases can be 5. Cup formations can be as much as 65 weeks.

The whole process is to help gauge whether institutions are accumulating or distributing. How the price closes at the end of the week helps tell what they are doing. As such more recent bars on the right side of the base are more important than the left. The method I described makes no such discrimination however it is a subtly that I might bring into a close call.

Hi Mike, I also enjoyed your presentation and I thank you for it. One clarification I'd like to get is on counting the tall bars. Does it mean any bar over average volume (ie, 1% or more above avg.) or do you want to see some height over the average volume say 10% or more?

Best,

Pablo

[Mike]

Hi Mike, I also enjoyed your presentation and I thank you for it. One clarification I'd like to get is on counting the tall bars. Does it mean any bar over average volume (ie, 1% or more above avg.) or do you want to see some height over the average volume say 10% or more?

Best,

Pablo

Pablo, the tall bars mean the bars that touch or are above the 10-week moving average volume line.

[barbados11]

Pablo, the tall bars mean the bars that touch or are above the 10-week moving average volume line.

Mike,

Good to know since sometimes there are several bars that are just under the 10 week average so bars that touch the average don't look tall.

Thanks,

Pablo

[barbados11]

Mike, do you have any rule about entering a position if the uptrend resumes without a FTD? Today we could since the S&P highs are a whisker away.

[Mike]

Mike, do you have any rule about entering a position if the uptrend resumes without a FTD? Today we could since the S&P highs are a whisker away.

IBD will sometimes turn the buy switch on without a FTD if the S&P or NASDAQ close at a new high (above 1897.28 on the S&P500). The NYSE volume by the way is running just 2% lower than Friday. If I were talking about the NASDAQ making a new high with many stocks setting up in proper bases it would be a near certainty that the buy switch would go back on. Many leading stocks have been damaged and need time to repair, so time to be cautious.

If we had a target rich environment with quality stocks breaking out and working I would consider entering some positions in advance of a FTD. I just don't see it that way right now.

[barbados11]

IBD will sometimes turn the buy switch on without a FTD if the S&P or NASDAQ close at a new high (above 1897.28 on the S&P500). The NYSE volume by the way is running just 2% lower than Friday. If I were talking about the NASDAQ making a new high with many stocks setting up in proper bases it would be a near certainty that the buy switch would go back on. Many leading stocks have been damaged and need time to repair, so time to be cautious.

If we had a target rich environment with quality stocks breaking out and working I would consider entering some positions in advance of a FTD. I just don't see it that way right now.

Thanks for your input. Sort of my thinking too.

Best,

Pablo