9:51 AM – First bought this stock on 8/12 and sold it the next day for a small profit. That proved to be a smart call as shares quickly faded back to their 10 DMA. On 8/18, the gains on rising volume and what looked like a push above the 10 DMA looked promising, prompting me to again start a position.

Since then, however, the 10 DMA has acted more as resistance, and with the line now starting to roll over, also a possible downtrend may be developing. I’m choosing to reduce margin and market exposure here, locking in what amounts to a very small net gain on the trade, while also working to preserve my solid portfolio performance of +48% over the past six months.

CLICK/TAP CHART TO ZOOM
Chart services courtesy of stockcharts.com. Annotations by James Taulman.

 

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James had served as Editor-in-Chief of the first independently licensed website to offer stock reports and services based on the CAN SLIM® investment system.

Since the late 1990s, he has been analyzing growth stocks and providing investor-focused research rooted in time-tested technical strategies. Over the years, James developed a strong ability to quickly and accurately identify high-ranked trading candidates using this proven approach.

He has worked with a wide range of investors — from professional money managers to individual traders — helping them apply this disciplined system in real-world markets.

James has delivered weekly market commentary as part of the “Your Money Matters” radio program, broadcast on both ABC and CBS radio networks, and for a time was a daily guest on the Investor’s Edge radio program.

Today, he is the developer and founder of U L T R A — a robust yet easy-to-use trading system built to identify and manage high-probability stock trades based on strict technical rules and real-time alerts.