ODFL

[Mike]

Mike,

Thanks for the detailed reply - your insight really helps me understand CANSLIM and develope a sounder market mentality.

Last week I noticed TSLA was under accumulation while the market pulled back. I regret to report I froze and did not take a junior position. TSLA has been interesting to monitor lately, it seems to me it has become a place to park money during what is expected to be a minor pull back (similar to APPL.) I now wonder if the market bounces or we get a FTD soon, will money move out of TSLA and be redistributed into other high growth stocks? Time will tell ...

Cannot thank you enough,
Harry

Harry,
Relating to TSLA the chart below shows the proper entry point for a Volume Trigger Alert (blue arrows).
TSLA volume dried up prior to the move up off of the 10-day moving average (it was close to the 50-day also). Volume dry up prior to a surge is a good thing. Even though the volume was below average on the day of the alert it was larger than any red volume bar during the prior 10 trading days. Also marked on the chart is the classical cup with handle pivot point (dashed line). One way to handle these set ups is to take a half position at the volume trigger alert and complete the position at the breakout of the classical buy point.

It is common in cup with handle situations that a Volume Trigger Alert will allow you an early entry in the handle of the pattern. There were other entry situations earlier in the base.

[Harry]

Agreed! With the Volume Alert Trigger tool, I should do a better job getting off my laurels and making an initial buy. Won't sweat it though as there are always other fish to catch.

Thank you (as always) Mike.