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So SWI is clearly outside the 5% window and it did not hit 20% from the pivot point in less than 3 weeks. CAN SLIM 101 says that if the consolidation of these past 3 weeks closed right on top of eachother, today might be a breakout from 3 weeks tight. They didn't, so it isn't. So today's heavier than average buying is not an HTMMIS trade.
1. The Cup was 2nd stage and less than 20% deep.
2. Sales have accelerated.
3. SWI was one of the first leaders of this 51/2 month rally
4. The run up from the low on 1/19 was 30% in less than 3 weeks
5. 2/7 was the heaviest volume in over a year and all the trade since has been higher in price than that heavy volume. So the market has accepted the higher price over the past three weeks.
6. Today is a high volume launch off of the 20 day line,
7. There have been 2 or 3 days volume dry up on 2/28; 3/15; 3/20
8. If successful, this launch would be only the 2nd leg since the recent breakout. So those can move 10% in a week or two without much trouble.
9. What's the caveat? It is not a trade described in the book. Do the other factors over ride the caveat? The market will give you the answer over the next 4 or 5 days.
10. By paying very close attention to the 3-4 day on balance accumulation vs distribution I can get comfortable with an entry like this launching in high volume off the 20 day line.
would it qualify as a pocket pivot if the vol gets up there?
Steve, since 3/6 is really a support day closing in the upper half of the range, in my book, today definitely qualifies as a pocket pivot.
Probably a good pt in add to our positions
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