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This is a recent tweet from Mark Minervini on Twitter 👇
Since the day after the contraction was the quarterly earnings report, we have no way of knowing whether Mark traded this stock, but we can do it according to $Blueprint Medicines(BPMC.US$The chart shows some telltale signs of why Mark is paying attention to this stock.
First, take a look at the IBD chart. The two recent sharp declines have produced a bullish divergence from the RS line 👇
Some other important metrics 👇
Back to the MOOMOO chart:
The figure uses purple lines to connect the high and low points of the finishing area, as follows:
101,84.81
97, 84.33
94.67, 88.46
94.98, 90.745
The difference is obtained by subtracting before and after:
16.19
12.67
6.21
4.235
High and low point gap%:
16%
13.06%
6.56% (met the conditions)
4.46% (conditions met)
Finally, a white line is drawn to break through the buying point, and the recent low uses a red line to indicate a stop loss.
Next, we use a $100,000.00 account as an account model. Swing trading corresponds to a reasonable stop loss range of 1% to 0.25% of the account
1% account stop loss = $1,000.00. You can buy 236 shares with a price difference stop loss corresponding to 4.235. The amount used: $22,427.00...
Since the day after the contraction was the quarterly earnings report, we have no way of knowing whether Mark traded this stock, but we can do it according to $Blueprint Medicines(BPMC.US$The chart shows some telltale signs of why Mark is paying attention to this stock.
First, take a look at the IBD chart. The two recent sharp declines have produced a bullish divergence from the RS line 👇
Some other important metrics 👇
Back to the MOOMOO chart:
The figure uses purple lines to connect the high and low points of the finishing area, as follows:
101,84.81
97, 84.33
94.67, 88.46
94.98, 90.745
The difference is obtained by subtracting before and after:
16.19
12.67
6.21
4.235
High and low point gap%:
16%
13.06%
6.56% (met the conditions)
4.46% (conditions met)
Finally, a white line is drawn to break through the buying point, and the recent low uses a red line to indicate a stop loss.
Next, we use a $100,000.00 account as an account model. Swing trading corresponds to a reasonable stop loss range of 1% to 0.25% of the account
1% account stop loss = $1,000.00. You can buy 236 shares with a price difference stop loss corresponding to 4.235. The amount used: $22,427.00...
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魔家
commented on
$Tesla(TSLA.US$ I don't understand it. It's clear that English is a fully automatic FSD. How can this be deceiving? Tell me more...
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魔家
liked
Last week in review 👉🏻Market Review+Core Position Analysis (22/04-26/04 2024)
“I've made as many mistakes in stock trading as many times as I was right, which has helped me grow both my career and my personal wealth. The key is asymmetric leverage; you make more money when you make a profit than when you lose, and you always get a return. This is the Holy Grail!” (All transactions only serve the profit curve of your account, nothing more) -Mark.Minervini
A quick review of this week's markets:
$NASDAQ 100 Index(.NDX.US$ Distributed on Tuesday and attracted funds on Friday;
$S&P 500 Index(.SPX.US$ Dispatched on Tuesday and Wednesday;
$Dow Jones Industrial Average(.DJI.US$ Distributed on Tuesday, divided on Friday.
NDX>DJI>SPX
The first 4 days of decline this week. The market opened sharply higher with the support of APPL earnings on Thursday and very good pre-market inflation data on Friday, but with the support of such superior external factors, SPX still failed to complete the “Follow-up Day (FTD)”, and was almost all blocked below 50MA and the intensive trading zone above. From a trading psychology analysis, this position has a great advantage for traders to go short: the distance from the 50MA above and the “sky pool” is extremely short, that is, the stop-loss cost (risk) is extremely small...
“I've made as many mistakes in stock trading as many times as I was right, which has helped me grow both my career and my personal wealth. The key is asymmetric leverage; you make more money when you make a profit than when you lose, and you always get a return. This is the Holy Grail!” (All transactions only serve the profit curve of your account, nothing more) -Mark.Minervini
A quick review of this week's markets:
$NASDAQ 100 Index(.NDX.US$ Distributed on Tuesday and attracted funds on Friday;
$S&P 500 Index(.SPX.US$ Dispatched on Tuesday and Wednesday;
$Dow Jones Industrial Average(.DJI.US$ Distributed on Tuesday, divided on Friday.
NDX>DJI>SPX
The first 4 days of decline this week. The market opened sharply higher with the support of APPL earnings on Thursday and very good pre-market inflation data on Friday, but with the support of such superior external factors, SPX still failed to complete the “Follow-up Day (FTD)”, and was almost all blocked below 50MA and the intensive trading zone above. From a trading psychology analysis, this position has a great advantage for traders to go short: the distance from the 50MA above and the “sky pool” is extremely short, that is, the stop-loss cost (risk) is extremely small...
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It was almost a group action for two days on Thursday and Friday 👇
Here are some eye-catching charts within the industry:
$Sweetgreen(SG.US$ 👇
$CAVA Group(CAVA.US$ 👇
$Wingstop(WING.US$ 👇
$Shake Shack(SHAK.US$ 👇
$Texas Roadhouse(TXRH.US$ 👇
There is no need to chase at all, just wait patiently for the low-risk moment 🚴🏻
Here are some eye-catching charts within the industry:
$Sweetgreen(SG.US$ 👇
$CAVA Group(CAVA.US$ 👇
$Wingstop(WING.US$ 👇
$Shake Shack(SHAK.US$ 👇
$Texas Roadhouse(TXRH.US$ 👇
There is no need to chase at all, just wait patiently for the low-risk moment 🚴🏻
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“Trading is a battle between risk and reward. Is the expected return worth the risk?
If the answer is no, then it's no fun.”
-Marc Minervini
If the answer is no, then it's no fun.”
-Marc Minervini
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The concept of a “follow-up day (FTD)” was first proposed by William.J. O'Neil in the book “Laughing Stock Market”. It describes the concept of starting an upward trend caused by the main index (SPX) rising more than 1.5% and trading volume exceeding the 50-day EMA on the 4th to 7th (sometimes even the 10th and 11th days) after the market bottomed out.
Later, minor revisions and additions were made in his subsequent book “The Principles of Stock Trading” (written after 2003): 1.5% was changed to 1.7%, and the success rate is estimated to be about 75%-80%, and it is required to be prepared for withdrawal if trading volume expands and falls sharply in the future.
Back now, more than 5 months have passed since the last SPX follow-up day, November 2 (Thursday). SPX rose 1.89% on that day, and the trading volume exceeded the 50-day average, thus starting the upward trend in the past 5 months; currently, SPX has adjusted from a high point on the 19th, reaching 4 weeks after Friday (today). There is a chance that there will be a potential follow-up date on Friday. Although I am skeptical about the “one-legged” market adjustment, I still need to believe in objective facts and act quickly; if it doesn't happen, continue to be patient 🚴🏻
Later, minor revisions and additions were made in his subsequent book “The Principles of Stock Trading” (written after 2003): 1.5% was changed to 1.7%, and the success rate is estimated to be about 75%-80%, and it is required to be prepared for withdrawal if trading volume expands and falls sharply in the future.
Back now, more than 5 months have passed since the last SPX follow-up day, November 2 (Thursday). SPX rose 1.89% on that day, and the trading volume exceeded the 50-day average, thus starting the upward trend in the past 5 months; currently, SPX has adjusted from a high point on the 19th, reaching 4 weeks after Friday (today). There is a chance that there will be a potential follow-up date on Friday. Although I am skeptical about the “one-legged” market adjustment, I still need to believe in objective facts and act quickly; if it doesn't happen, continue to be patient 🚴🏻
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As the market adjusted, I focused on finding those unique names.
Currently, 19 days have passed since the short-term peak of SPX, that is, set a name with the highest increase in the past 19 days and meet some conditions. After Friday, it will be changed to the 20th, and after next Monday, it will be changed to the 21st...
Here are the search criteria 👇
Currently there are only two chart potential settings that have caught my attention 👇
Currently, 19 days have passed since the short-term peak of SPX, that is, set a name with the highest increase in the past 19 days and meet some conditions. After Friday, it will be changed to the 20th, and after next Monday, it will be changed to the 21st...
Here are the search criteria 👇
Currently there are only two chart potential settings that have caught my attention 👇
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