Keep your nose to the grinding wheel | stockbee

2/08/2012

Keep your nose to the grinding wheel


It is a good bull market so keep looking for non extended breakouts.

Look for breakouts with 10 to 20 day consolidation prior to breakout.

Look for breakout that are not up 3 days in a row.

Look for breakout happening after a volatility squeeze.

Look for narrow range bars (several the better) prior to breakout

Look for breakout on high volume.

Look for breakout on high relative volume

Look to protect profit aggressively on extended setup.

Look for a setup to put bigger capital. Such setup should have very good setup and catalyst and preferable earnings behind them (b/o post earnings)

Look for pullback buy on recent earnings EP. Lot are setting up on this . Use EP month scan for this.

All the setups you will find using STIB, Dollar breakout, STLD, EP.

To anticipate b/o look at top 300 stocks by momentum using either TI 65 or MDT

Post b/o moves are smaller currently, so adjust your profit expectations accordingly.

Organize, organize, organize and set a process.

Shut out the noise....

You will have lots of opportunities.

Most important thing is not to follow someone else picks but to develop your own well thought out method and execute it. There are thousands of sites/ newsletters/blogs that will offer you picks based on proprietary/secrets methods. If you go that route you will not last long as a trader.

Develop your own methods, develop your own scans, develop your own process flow , develop your own risk strategy, develop your own individual style, develop your own edge. This is the right time to do that. 

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