Mike
04-26-2015, 10:30 AM
Watch lists are updated. I have modified my approach to listing buy points for bases that allow a sloping pivot line to be drawn. This is an example of a sloping pivot on the LNKD base.
29825
I have also placed more restrictions on watch list selections based on extension of price above the 50-day. In general in markets where there are too many breakout failures I want to make purchases where I can withstand a subsequent pullback to the 50-day moving average without stopping out. This means that I look for more buying opportunities as close to the 50-day as possible. So even though I might list a classic buy point I will be looking for other excuses to buy early with for example a volume alert trigger or sloping line pivot.
I notice that semiconductor stocks have significantly weakened. The last two stocks I have sold on weakness are NXPI and QRVO.
29825
I have also placed more restrictions on watch list selections based on extension of price above the 50-day. In general in markets where there are too many breakout failures I want to make purchases where I can withstand a subsequent pullback to the 50-day moving average without stopping out. This means that I look for more buying opportunities as close to the 50-day as possible. So even though I might list a classic buy point I will be looking for other excuses to buy early with for example a volume alert trigger or sloping line pivot.
I notice that semiconductor stocks have significantly weakened. The last two stocks I have sold on weakness are NXPI and QRVO.