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Learning from a Market Wizard: Swinging Stocks in the Style of Mark Minervini


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Learning from a Market Wizard: Swinging Stocks in the Style of Mark Minervini

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  #101 (permalink)
 deaddog 
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razle View Post
With this criteria, I would like to know if you have a fixed % that you generally risk per trade?

Up to 1% of my capital.

Risk = difference between my entry and my stop.

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
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  #102 (permalink)
onetake
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I quickly checked out Kristjian Qullamaggie yesterday. Gonna have to dig into his videos way more. Looks like there's a ton of great stuff on his website too.

I know the breakout systems of (Qullamaggie/Weinstein/Minvervini) say to buy when stocks break out of ATH's but was curious how you would play the PBL chart. Technically the ATH is $62.90 but it seems to me that the top of most of the range was $55.50ish and I'd be more inclined to treat that huge candle at the beginning of the trading range as an outlier.

I mean, at the end of the day one can trade however the hell one wants, LOL, just curious of how others interpret this


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  #103 (permalink)
 mtzimmer1 
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@onetake Kristjan does NOT wait till ATH's or even 52 wk highs to buy. Neither does Minervini. They both regularly take trades on stocks that are just beginning to come up the right side of the base. Minervini calls it a 'cheat' while Kris just calls it a breakout from a tight range. Same principles apply. 55.50ish was the buy point for both MM and KK I think.

PBL wasn't on my radar - looks like it's not listed on US exchanges?

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  #104 (permalink)
 deaddog 
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mtzimmer1 View Post
@onetake Kristjan does NOT wait till ATH's or even 52 wk highs to buy. Neither does Minervini. They both regularly take trades on stocks that are just beginning to come up the right side of the base. Minervini calls it a 'cheat' while Kris just calls it a breakout from a tight range. Same principles apply. 55.50ish was the buy point for both MM and KK I think.

PBL wasn't on my radar - looks like it's not listed on US exchanges?

As near as I can tell the spike on the 24th was caused by a fund releasing a positive report on twitter.
Most of the spike took place in the first 10 minutes.

What it does tell me is that there is supply higher up.

It has had a 7 week consolidation and volume has been diminishing.

The break today might be what Minervini considered a pivot pocket.

Other than ATH it checks most the boxes.

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
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  #105 (permalink)
 mtzimmer1 
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Buyable stocks I observed today and added to the list to watch over the coming days:

OZON
ALGN
SEAS
GSM

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  #106 (permalink)
 deaddog 
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mtzimmer1 View Post
Buyable stocks I observed today and added to the list to watch over the coming days:

OZON
ALGN
SEAS
GSM

Do you look at any fundamentals?

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
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  #107 (permalink)
 Schnook 
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mtzimmer1 View Post
Haha. Thatís the opposite of what @Schnook does. He said he doesnít buy stocks when the market is up because most stocks drift higher when the market is up. When the market is down and an individual stock is up itís showing relative strength.

Thatís what is funny about this game - two traders can do OPPOSITE things and both can logically justify their choice!

-Zimmer

Interestingly, though, a few of the other items on @deaddog's checklist match my own. One that stands out in particular is that the breakout bar must be a large, full-bodied candle with high volume. This, actually, is also a form of relative strength; it indicates strong buying interest - at least relative to prior bars, if not also the broad market.

But I don't limit myself to buying new highs. I'm perfectly comfortable buying long base breakouts as well.

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  #108 (permalink)
 mtzimmer1 
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deaddog View Post
Do you look at any fundamentals?



No. My assumption is that there is a reason a stock is showing relative strength. Stock prices donít move based on what I think, they move based on what the collective masses think. These changes in collective opinion manifest as price movement.

I know all of the OíNeil studies show that the biggest winners had high EPS growth prior to making their move, but I havenít been able to replicate those findings with recent data. Seems that most of the biggest movers from 2020 were pre-earnings.

Fundamentals bore me to death and I havenít seen compelling evidence that incorporating them into my approach would actually improve my results. I am interested in thinking about catalysts related to legislative changes, global supply chain, consumer sentiment, etc but that isnít necessarily Ďfundamentalí given that a copper miner with a horrible balance sheet can still see their stock price rise tremendously if there is a big increase in demand or decrease in supply for copper. Always willing to have my mind changed so Iím all ears for your opinion!

I know you were long BHC... what is exciting about their fundamentals? Earning and sales growth both look nonexistent.

Also, how did SEAS look yesterday - meets most if not all your criteria no?

-Zimmer

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