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Hey Abe....Utilizing your intraday chart approach on 15 min and hourly charts, it was clear to me that prior to the breakout (which failed) and the earnings miss inst buyers were building positions which lead to a successful breakout. It aided me in evaluating whether to sell off the pocket pivot buy as it was approaching my mental stop. Btm line is allowed me to weather the emotional storm of selling off in a reversal and letting the chart action tell me what the inst buyer were doing which lead to a successful breakout and profitable trade.
Here is the challenge I have now, it is my weakest gainer in my portfolio and will need to shed it in the future to pyramid up the stronger stocks (when the mkt correction provides the buy in opportunity). The chart action remains strong and no sell rules apply. My thoughts on timing the sell are : 1) Mkt DD hits 3, or 2) Sell Rule Applies, or 3) Inst buying pattern fades. I guess I am trying to decide on when to pull the trigger here w/o selling it off too soon?
It looks like more accumulation through today. You are seeing the pyramiding exactly the way I see it. Yesterday's close with heavish volume was little lower than the volume on Monday. Certainly not overwhelming. Today's volume shows up higher and heavier, so I agree no reason to sell yet. I'd reassess this right near today's close.