China Diapers
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I acknowledge my methods may appear unorthodox, I will reveal my reasoning later
Cancelled
I acknowledge my methods may appear unorthodox, I will reveal my reasoning later
Cancelled
What do you use to identify your breakouts? Are you buying any stock that breaks out and from what period?
I look for stocks that are making new highs on higher volume and if they appear to have broken out of a range I get involved. I like them to have been in a range for at least 6 months but I am flexible on this.
I also keep a list of stocks I come across which are forming ranges.
Sounds a bit like what I do - I like to use this to find 52 wk breakouts - http://tools.morningstar.co.uk/t92wz0sj7c/stock/HighLowPrices/default.aspx
Preferably on small caps/fledgling stocks. Then hopefully buy and leave to run.
I've gone long ZZZ... in profit now, not sure it will do much more thoug.
Long GEMD
Long eBay
I don't want to influence your trade. But in general, one thing I've learned about trading breakouts in stocks is that the most successful breakouts are backed by a significant increase in volume on the breakout day, week, and month. So with Weinstein's method we look for at least 3x the average daily volume on the breakout day, with strong relative performance versus the market and a close near the high of the day. Then it must also have at least 2x the average weekly volume as well by the end of the week to help confirm the breakout.
Making sure the stock has this will greatly decrease the chance of a false breakout and it will have even more chance of success if the monthly chart also has an increase in volume of at least 2x times it's average volume.
So if there's no significant volume increase on the breakout as described, move on, as you only have limited capital and you need to consider the opportunity cost of each trade.
Long eBay