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Here is a trade I blew last year coming out of the June Follow Through Day. Such a great chance to make some money and I just let it slip through my fingers.
Good talking with you tonight. This is the post I cannot see the pocket pivot nor the 4 week square box. Care to share the wisdom?
So the green arrow was my buy point on 6/11. The stock had moved sideways for 4 and 1/2 weeks prior to my buy point and only corrected a maximum of 6% during that 4 week period. The left side of the box is made up of the two up days straight up on May 2 and May 3. The right side of the box is the straight down day on 6/4. Those sides give it a "box" like quality.
Note that the RS line made two new highs during the square box. One on 5/24 and one on 6/1.
I call 6/10 a "Pocket Pivot Launch" as a distinction of the volume. Not sure if Dr. Kacher would call it a pocket pivot, because 6/10 was at new highs. I like the term because it encourages me to compare how the high volume of the launch stacks up against the volume of the recent days.
Hope to see you in Sausalito.
I am not sure why a CAN SLIM person would give this post only one star. There was obviously a 4 week sideways consolidation right before my buy point. The consolidation was less than 15% deep with plenty of Relative Strength.
Just as it is described on page 128 of How To Make Money in Stocks.
The buy point was right as the stock was coming out of the 4 week sideways consolidaiton with plenty of volume. Then the market confirmed the buy with a 14% gain over the next four weeks.
The sell point was "Largest Daily Run-Up" after a four month uptrend as described in sell rule one on page 263 of HTMMIS.
A textbook gain was available to anyone who had practiced CAN SLIM and followed the rules.
Not I see it, took a few minutes to focus on the chart, but now I understand. Because it was a daily chart, i needed to recalibrate on the 4 week period. Thanks again.
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