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Learning from a Market Wizard: Swinging Stocks in the Style of Mark Minervini
No breakout setups recently so I've been all cash but OZON. I have spent a lot of time researching one very specific setups and finding historical examples from the past few decades in nearly 500 stocks at this point. This study is almost concluded and I look forward to sharing my findings here soon!
In other news I'm beginning to see some recent breakouts holding higher and my watchlist began to widen out with the scanning I did tonight. Hopeful that we may see a decent run here if stocks can continue to break out and continue. My game plan for tomorrow is to take very small positions on some of my favorite setups and aim to keep portfolio exposure under 25% until I see more constructive price action post-breakout.
As I mentioned yesterday. Seems some breakouts have begun to hold higher. Lots of setups today but I focused on my favorites: TLRY, APHA, and ON. Both TLRY and APHA are weed stocks with similar setups: narrowing range w/ a gap up out of range. ON is a semiconductor with a clean VCP chart pattern. Semis have been hot recently and it seems like one of the niches that makes sense to have some exposure in currently. Took somewhere around 1/2 size positions in all of these names as a way to test the water before jumping back in.
2020-3-31 TLRY
2021-03-31-ON
Unfortunately TLRY was stopped out. APHA barely hung on as of the close and I don't have high hopes for tomorrow unless we start with a gap up.
Keeping up with this journal is something I just haven't been inspired to do recently. Fell out of the habit with the slow market conditions and now trying to get back on the horse.
Yesterday I bought: TKAT, MCD, GMBL, and added to SEAS
Today I bought: ZIM, EL, and APPS
Current Positions (sorted by priority in portfolio):
SEAS
APPS
ZIM
BOX
TKAT
GMBL
OZON
EL
ON
MCD
I am currently 90% invested with a beta well over 1. I don't have enough conviction yet to go onto margin so anything that I buy tomorrow must excite me more than one of my existing positions.
I just stumbled over your journal. Thanks for taking the time and effort to post your trades.
I also trade break-outs and use 52 week high to find trading ideas. I follow the methodology of O'Neil, Darvas, Weinstein and Wyckoff. I haven't read Minervini. Although there is a YouTuber, Jack Corsellis, that mentions his VCP method.
I'll be following your progress. Good trading!!
"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
Thank you! Good to know there are a few people out there that may actually enjoy or get value from reading this journal. I'll try to put more effort in as I do believe it will be beneficial for myself and hopefully others as well.
Do you have any open positions currently? I've seen a ton of failed breakouts in the past few weeks and just starting to get some traction in my portfolio over the past few days.
Frustrating day for me. Some stops hit this morning was a loud and clear "foot off the gas" signal from my portfolio. I listened and watched quite a few great setups pass: $BLNK, $GRWG, $PLL, and $ETSY. The one I did take, $MU, seems to have been a fakeout. It can be annoying but thinking risk first is essential for longevity.
2021-04-08-MU
Barely took out the highs before reversing... oh well!
The close today was very promising with lots of stocks appearing to have successful breakouts today. I was stopped on BOX and TKAT, and sold 1/3 of my SEAS position on the close below the 10 day. Currently ~80% invested and interested in continuing to add exposure if tomorrow is a characteristic follow-through day. If not wait to see if stops hold.
Thanks @deaddog for gently prodding me to put more effort into these daily posts.
