Volume always appears on advancing stocks on the weekly. But at the breakout, looking at say a 5 minute or other intraday period, the volume may not be there yet. But if the breakout is real and the stock isn't a low float pumper, then the volume should be coming in by the end of that first day. I like to see the volume on the breakout week. If the rally continues, the volume week to week means less and less on the green weeks. However, when the stock consolidates, the volume should contract. TSLA is a great example of a weekly chart with good volume characteristics for a bull case since the beginning of the year. SMCI also a great chart to study. A more troublesome chart and one worth studying is ONON. Big volume on big breakout week. Then price wedged up on its lows while volume dried up. Readers of HTMMIS will know that that is the opposite of what you want to see happen. Then there was a big red week on high volume, followed by three small green weeks on contracting volume. I bought the breakout during the week ending March 4th, but sold out near the beginning of the week ending May 12th.
%% Good , but i so seldom watch a 5 minute chart+ even less intraday after close, don t know much about 5 minutes. Also stair stepping daily volume, would be a first choice; but close to average volume is fine+ very fine also. Some times the market is wrong on volume, but since not many are dumb enough to jump on a trainwreck, with 20-20 hindsight, that's life. By that last remark, i mean like Dave ramsey said [week of May 8,9]on the pre debt deal ''dont know if biden is going to [default ] + run the economy in a ditch'' QQQ volume was about yearly lows. May 8,9. In hindsight , fine uptrend + budget deal even if US gets a debt downgrade for overspending now.......................
Me neither. However, I do look at a five minute or even a one minute when a stock I've been watching gaps open, for example, on an earnings beat. CELH was a good example of this recently. I'll watch the five-minute chart and buy at the first green candle or the break of the 5-minute opening range high. Similar to Qullamaggie is you are familiar with his work.
%% NOW that you mention it yes somewhat; i remember about 97.777% of his name LOL I use most of his trading books also, by name, since i never met him; WO'N books, Jack schwager books.............. He was honest enough to admit he blew up an account 3 -4 times; so he maybe 3 or 4 times better than average
Yes, KK is great. I like how he occasionally drops the F-bomb in Interviews You hear him reviewing Charts his Followers send him, he replies with comments like "you guys gotta stop looking at these type of Shit Charts". There's also a Youtube clip showing his Disclaimer or something "Read this first or fuck off" He's generous with his teachings, so repeating the same thing over and over obviously annoys him.
He just got all the CVNA move, experience counts a lot to maximize compounding in bulls. Volume from earnings is proving to be succesful in these marketing conditions as was for all the weekly charts from the last edition of HTMS The truth is that whatever positional that really knows Wyckoff directly or indirectly is gonna be profitable
Hey @Rams Fan are you getting many Set-ups, indicating we're about to get a Bull run, or just the opposite? Failed Breakouts perhaps? Thanks.
It's a bull market for me! Many breakouts moving up, a few faltering, sputtering, or outright failing. I don't abide by the CNBC/CNN definition of bull and bear markets (20% up = bull and 20% down = bear). Stupidest thing I ever heard. I watch individual stocks. I build my watchlist largely off the stocks that have big weekly moves on volume. If it also has big earnings growth, big sales growth, or a great story (even though sales/earnings lacking) it hits my watch list. So long as the general market is acting right on a weekly and monthly basis, I am on a shopping "spree." SMCI, NVDA, &TSLA (much to my astonishment) are my largest swing holdings currently. I'm also carrying CELH, IOT, ELF, DT. I bought NNOX, sold it out yesterday. I bought DKNG, sold it out the week before last. MBLY & ONON are two others I have bought and sold as they were not acting right. I'm watching YEXT and PLTR, but no position in either yet. ARRY is also on heightened alert, but now it is selling down from the top of an extended base, though within the base it has put in a series of higher lows. I use IBD mostly for the weekly "Stocks on the Move" table, however that newspaper is a great source of trade ideas throughout its pages, and I do get them from all over its pages. Another place I watch is twitter. There is a good community of IBD followers on twitter, and some good traders as well. I pay attention to the stocks they are talking about as well. That is how I came upon SMCI last fall. As everyone thought the sky was falling and the S&P's were going back to 666, the IBD fundamental crowd was alerting to good price action on SMCI. Like Darvas, I buy the right stocks at the right time, and let my stop losses take me out. It really is that simple. I'm not saying it is easy for a lot of people because I see idiots everywhere - on CNBC, twitter, ET, who think they know something and they can game the market (but can't), or they've f'd up so bad over the years that they are now trolls who don't believe anyone can make a profit. I do consider myself lucky that the internet was still in its infancy when I started to take investing/trading seriously. My main source of instruction was Darvas (the very first book I read when I decided to get serious about my money), from whom I discovered Gerald Loeb. I soon stumbled upon Livermore, and my dad recommended IBD and William O'Neil to me. And that was all the start I needed. Long way of saying, that for me, a market is a bull market as long as most of my purchases are showing a profit. When the market turns to bear, there will be many weeks, sometimes months, where I am only shorting stocks and not one stock is near a buy point.
Darvas had trouble making money when he was too close to the action. He did better when he was using only days old info from newspapers.
Thanks for the lengthy reply. Good to see @spy and SML etc get a mention in there LMAO While I understand Darvas's historical contribution to Stock trading, I couldn't get past half way through his Book, it just seemed about some Dancer puoncing around the World sending Telegrams to his Stock Broker after noticing the stairstep pattern. Maybe the second half of the Book, the half that I didn't read is meater.