From July 11th – Aug 11th we have had a total of 7 stocks break out from our daily Stock WatchList Morning Update.
That report is emailed out each market morning before the open. It contains my watch list of high-ranked, fundamentally sound stocks that are setting up in bullish technical bases of consolidation, and which looked poised to breakout.
For each stock in that watch list, I set specific “trading criteria”, including a TRIGGER PRICE. If a stock breaks out above its TRIGGER PRICE, I issue a BreakOut Alert to all subscribers via email. Stocks which trigger BreakOut Alerts are considered BUYs, and then are moved into the PORTFOLIO where each is monitored for SELL signals.
SEE: DAY 1 | DAY 2 | DAY 3 | DAY 4 | DAY 5 | DAY 6
DAY 7: ESTABLISH WHAT TYPE OF TRADER YOU ARE
What are you in it for?
How much time do you want or have to put into it?
What is your risk tolerance?
Here are some links to help you –
What Type Of Trader Are You?
– Lisa Smith
You known that the stock market provides an opportunity to make money, but you aren’t quite sure how investors known when to buy and sell. Or maybe you’ve heard some terms like “noise trader” or “arbitrage trader” and you want to known more about them. Either way, an exploration of a few of the many types of trading strategies will provide some insight into the terminology and strategies used by various investors as they seek to build wealth by investing in the stock market. Understanding these strategies can help you find one that best matches your personality.
What Kind of Trader Are You?
– Kathleen Brooks and Brian Dolan
The kind of trader you are will affect — or should affect — your trading strategy. It helps to known your trader type so you can trade effectively and in a way that feels right for you. To determine your trader type, take the following quiz.
Tharp Trader Test – What type of trader are you?
– Dr. Van K Tharp, armed with a Ph.D. in psychology and several losing experiences in the market, realized that perhaps the poor results that he’d been getting in the markets had more to do with him than the markets themselves. So in 1982 the quest began for how he could become a better trader. He conducted in-depth research to determine the qualities that great traders and investors had, and his research uncovered ten distinct areas that were important to investment/trading success.
UPDATE: Every BreakOut We Have Had From the Stock WatchList Morning Update – 7/11 to 8/11
Below are the 7 stocks which broke out from my Technical SetUps WatchList, which is included in the Stock WatchList Morning Update, from 7/11 – 8/11.
If you bought any of these, or just want to learn more about how my investing system works, please do yourself a favor and take a few minutes to continue to read this concise yet informative and even educational report.
|
SYMBOL
|
LAST
|
ADDED TO
WATCH LIST |
BREAKOUT
DATE |
BREAKOUT
PRICE |
CURRENT %
PROFIT/LOSS |
|---|---|---|---|---|---|
| YNDX | $22.48 | 08-03-16 | 08-11-16 | $ 23.31 | -3.56% |
| CDK | $57.66 | 08-01-16 | 08-03-16 | $ 58.27 | -1.05% |
| PCTY | $42.72 | 08-03-16 | 08-03-16 | $ 45.99 | -7.11% |
| CDW | $44.87 | 08-01-16 | 08-03-16 | $ 43.22 | +3.82% |
| BMCH | $20.11 | 07-20-16 | 07-25-16 | $ 20.09 | -0.10% |
| IEX | $93.87 | 07-20-16 | 07-20-16 | $ 87.28 | +7.55% |
| EBIX | $56.57 | 06-14-16 | 07-11-16 | $ 50.03 | +13.07% |
*prices and %P/L as of Friday’s (8/19) close.
Below is a detailed update of the seventh and final breakout we had between July 11th – Aug 11th which occurred on Aug 11th.
SEE: DAY 1 | DAY 2 | DAY 3 | DAY 4 | DAY 5 | DAY 6
Also included in these daily study lessons is a brief summary lesson from my 7-Day Comprehensive Study Course.
Today, I provided some links to help you discover what type of trader you are. (above)
Of course, I go into much more detail in my 7-Day Comprehensive Study Course here.
#7 Yandex N.V. (YNDX – Nasdaq)
Yandex N.V. operates an Internet search engine in Russia and internationally.
This stock was added to our Technical SetUps WatchList on 8/3 as I found it had solid ranks, good fundamentals and was building a base of consolidation near new price highs while trading above its 50-day moving average.
As I have continuously stated – I consider this “technically ideal” as there is no resistance in the way of further possible gains, while in the event of a pullback there is sound support (50 DMA) just below the BUY PRICE.
|
SYMBOL
|
CLOSE |
ADDED TO
WATCH LIST |
BREAKOUT
DATE |
BREAKOUT
PRICE |
|---|---|---|---|---|
| YNDX | $22.48 | 08-03-16 | 08-11-16 | $ 23.31 |
| 1st SUPPORT |
2nd SUPPORT |
MAX LOSS GUIDE |
EARNINGS | CURRENT % GAIN/LOSS |
|---|---|---|---|---|
| 50 DMA | $20.83 | $21.44 | 7/28/16 | -3.56% |
Charts courtesy of StockCharts.com
On last Thursday afternoon (8/11) shares traded above their TRIGGER PRICE of $23.30 with volume conviction of +71% above average. This bullish action always confirms a BUY signal.
Those who have taken my 7-Day Comprehensive Study Course known that once a stock confirms a BUY signal and is added to your portfolio, the next thing you do is update the “trading criteria”. This includes adding a 1st SUPPORT, 2nd SUPPORT, and a MAX LOSS GUIDE.
The day after a breakout I ideally want to see a strong follow-through day, however YNDX traded in a rather tight range with light volume.
Early on Monday morning this latest breakout looked poised to trade higher as it was sitting with a decent gain pre-market. However the opening gains were short-lived.
Since, the stock has been drifting lower on below average volume. Not really a concern, just not the action we were hoping to see after a decent breakout.
From here, obviously any above average volume declines (-p%/+v%) would be the first concern.
As I had previously noted – “There may be some support at the highs of the base near $23, however I am going to put our 1st SUPPORT at the 50-day moving average, which is currently at $21.64.”
Below there, we have the lows of the base near $20.83. The MAX LOSS GUIDE is always -8% below the BUY PRICE (BP x 0.92).
The stock’s ranks remain solid, and we may see a test of the 50-day moving average before this stock gets going.
We’ll just have to take it day-by-day.
Need help in building a watch list ?
Remember, that is where it all starts, with a watch list.
Then take the first step and start receiving my morning watch list of high-ranked, fundamentally sound leaders which are setting up in bullish technical bases ?
Learn more here –> Stock WatchList Morning Update
If anyone needs any additional information, please let me known, as I would be glad to assist you.
Have Any Questions or Concerns ?
If you would like to schedule a phone appointment with me to answer any questions, address any concerns, or discuss the services I offer for self-directed investors, you can do so by using my appointment setter program here.
I talk to investors and traders on a regular basis, and I am always glad to help.
____________________________________________________
James F. Taulman – For more than 8 years James served as Editor-in-Chief of an independently licensed website that offered stock reports and services based on the CAN SLIM® investment system. He developed a knack for being able to quickly and accurately analyze high-ranked stocks based on this winning investment strategy. Over the years, Mr. Taulman has enjoyed assisting individuals from professional money managers to private investors with their needs in relation to implementing this investment approach on a daily basis in the current marketplace.
Each Sunday you could hear him deliver his weekly market report as part of the “Your Money Matters” radio program on ABC and CBS radio networks.
James now runs two websites and a portfolio service where he features select stocks which match up very favorably with the guidelines of the winning investing system.
At his long-standing SundayStockReport.com website, he produces a weekly newsletter that includes his High Ranked Leaders Watch List, and ongoing portfolio style coverage on breakouts from that concise list.
His newer site, BuyingBreakOuts.com is where he offers a stock watch list each market morning, emailed out as a Stock WatchList Morning Update. This report contains his hand selected stocks which looked the most poised to break out. There are also real-time “BreakOuts Alerts!” of stocks from that list which trade above his Trigger Price. These are sent via email to those who sign up for this free service.
Most recently James introduced – James Taulman’s Personal Portfolio Service where he gives more specific BUY, HOLD or SELL calls on suitable high-ranked market leaders. These selections have solid fundamentals along with bullish technical chart patterns. He also presents stocks for shorting and gives, SHORT and COVER alerts on those as well. He designed this service to take only what he sees as the most sound stock selections from all of the services which he currently offers. This new service is basically how he uses the information which he has available to him, to trade a personal brokerage account.