Understood the overhead but I don't think that's an issue. Usually investors that bough at high prices and are waiting to recover are small chicken like me and big trends are driven more by institutions. You can look by yourself, this pattern repeats endlessly in almost all long term trending stocks. Also it reminds me, I think it was Livermore talking exactly about these repeating "jumps" he had observed. I don't agree on your second paragraph, I call a respiration what you call a counter-trend. I mean it's all relative... Take QUIK for example, I think it's the worst from these picks, looking YTD he's lacking S&P, I well see the counter-trend you talk about. Now, if you look at it TTM, it's almost inline with S&P The simple causes that would make them to turn around and the reasons I enter the trade are the following: 1. They just broke their recent down trend in consolidation (red and pink lines). 2. To continue their longer term trend (from last July to April in this case). All that said, I just have to stick to one method for now, I don't expect all my trades to be good, that would be too much. This paper trading is also to give feedback to myself, I'm not been trading this since years, just starting right now as you see it, that's why I need this. Maybe you are right, maybe that head and shoulders pattern we see in QUIK was too much to be traded like I did but for now, that's not in my list as a reason to avoid a trade, maybe it will become but for that I have to try it before and see. Thanks for your comments, I like to be challenged because for sure I never see everything in the charts and it's always good to have different perspectives from different people. Hope you will continue doing that about any pick here or in my real portfolio. I really appreciate that. Thanks !
7. IBP, Installed Building Products, Inc. This one has just broken today it recent base and consolidation down trend while remaining above EMA200, it's well positioned in its industry and has good numbers and even if it's not fully CANSLIM compliant it deserves a try.
8. OKTA, OKTA, Inc. This one broke a recent base but still not the down trend consolidation, it has come back near the entry point and that's why I enter, maybe a bit early as I wonder if I shouldn't wait the break of recent swing high which should break the down trend at the same time...
Obviously, this newbie is not interested in comments that differ from his way of thinking. He is only interested in teaching/preaching to others. In fact, quite a few newbies behave likewise. He gets agitated even if we give constructive comments. He is looking for comments like : - great analysis! - great pick! - that's the way to go! My bad. I should have asked him the purpose of his posting his trade earlier. Then I can avoid the unpleasant encounter. _________________________
9. DFH, Dream Finders Homes, Inc Another almost CANSLIM stock that just broke a rounding consolidation. Long @ 27.00
10. NXT, Nextracker Inc. Young company in a fresh up trend that published strong numbers. The consolidation here is not usual, there is a kind of double top but it seem to be rebounding from the EMAs. Entering long at the most recent down movement break at 50.98
11. AEO, American Eagle Outfitters, Inc. Just went above its most recent swing high but consolidation trend not broken yet. Entering long at 21.20
12. Rex, REX American Resources Corporation Same swing break here but without clear consolidation trend. Entered Long @ 46.10
13. GH, Guardant Health Inc. This is s a particular case as it's a down trending stock that seems to be changing trend right now. Fundamentally, earnings numbers were good but ROE is still awful, it's first in its industry but its industry is ranked 176 out of 197 which is quite bad. So the trade is risky but technically the consolidation was ordered and the break was with good volume and I have to keep in mind that the market is forward looking, past numbers are a base to build on... The volatility is quite high and my stop loss is right at the recent low swing so if it does't confirm the break in the coming days I should quickly be in stop loss territory... Long @ 30.00, Stop Loss at 10%
14. AZEK, The AZEK Comapny Inc. Stock in a confirmed up trend which looks stronger than in previous consolidation. Annual earnings still not positive but improving and the break of recent swing was with 200%+ volume. Long at 43.31, Stop Loss 10%