I bought GOOG on the breakout today. Stop is at $548.
Today’s Entry: GOOG
SPY Breakout
Nice looking breakout on the SPY chart. I will look to buy a dip today. If by chance the breakout fails at close, I will reverse and get short.
Playing the Breakout Trading Range: IPHS
IPHS broke out in early August and is now developing a trading range between the breakout highs and lows. This has created a low risk set up. I would like to buy on a pullback to the $33-35 range with a target of $40 and a stop around $31-32.Overall, the stock shows a nice volume... Continue Reading →
APPL Buy Point and Negative Divergence
I am thinking about putting a buy stop in place for AAPL just above $190. As you can see from the chart, that would be the logical breakout entry.A major concern of mine is the RSI divergence that is developing. Last year I did a study of breakouts accompanied by a negative RSI divergence. My... Continue Reading →
Watchlist and Trade
Here are the stocks that made my weekly watchlist:drys hma x ewz lufk cybs aks bzp mtl csiq gnk rimm fls sol fslr crk (bo-htf) jrjc flr apa dvn vip I bought CRK on today's breakout, using a buy stop with a limit place just above the consolidation area.
Today’s Breakout: MA
The street must have liked MA's earnings results. This is one of the few stocks that has defied my volume analysis. Stocks floating up on poor volume are usually setup for a fall, especially around earnings. Think POT for a good example of this. MA is now on my breakout-pullback watchlist.
Monday Breakouts
Here are two breakouts that interest me:ISYSI would like to buy this one on a pullback to the breakout point. Nice trending stock with good volume pattern.ALRPSimilar to ISYS, the only major difference is the overall price trend has been more volatile.
Breakouts with Strong Volume Trends
Friday's nightly breakout scan listed just over 100 stocks. An easy way to trim the fat and find good setups to trade is to sort breakouts by obv ranking. This will find breakout stocks with strong volume patterns. Here are Friday's top 25:
The Trade I Did Not Make
There is a lot to like about the breakout in GRA. The stock gapped up 3 points on huge volume over price resistance and had mounted the 200 day moving average a couple of days before. the 50 day moving average is moving up and looks ready to cross the 200 day. RSI and stochastics... Continue Reading →
The Frustration of Waiting for a Pullback
One of the most frustrating things about the breakout-pullback setup is when you've got a textbook breakout out of a base, the stock heads your watchlist, and instead of pulling back to any measure of support the stock keeps going and going. Last Thursday KEX's breakout put it at the top of my watchlist. I... Continue Reading →
