Maverick, quick question - i recall you saying that you derive many of the stocks you follow from the IBD 50, which I tend to think of (perhaps incorrectly) as the most of the "hot" stocks of the moment. Can you give us a sense of how you might differentiate that list further to find a good trading candidate? Understand if you would rather not say. Thanks very much.
Anyone track TSLA and want to share their number line value? I have it at +8 which seems oddly low for something that's been so bullish-looking the last few months. Seems like some large opening range moves and gaps account for the lack of +2's in my scoring. Just curious if anyone else shows the same thing. It made a QTR up and retested successfully but since my NL was not confirmed I decided not to trade it.
I don't trade stocks but just to validate my recent effort at NLs, I calculated todays NL for TSLA at +15. However, on the day of the retest of the QAUp as you mentioned, it was +6.
Mav, do you have any targets in mind for FX land or this USD breakout? Cable in particular seems to be in "take any failed A up you can get" mode. Are we looking for the yearly level to get tagged in this one?
don't be too discouraged that your NL does not match up with the TSLA strength. This is a perfect example of what Mav was talking about regarding the popular tickers. TSLA is VERY crowded. It fit in with ACD much better when it pulled back 40% earlier this year and people thought the run was over. One of ACD's strengths is that it points out consistency. I'd honestly rather trade something that scores a 2,2,2,2,0,0,2,0,2,0 and is only up 10%, than something that scores a -3,0,4,-3,0,0,2,-2,3,-2,0 and is up 25%. Does that make sense?
Once we have confirmed number lines, the targets melt away. This is a "significant" breakout in the dollar. I'll give anyone a free cookie if they can tell me what is the "likely" driver for the dollars strength and why it's going to get significantly stronger because of this driver. It's a pretty big cookie too. Not like those small ones I use to give out before.