I bought 500 shares of DXPE at $$47.40. This is a breakout-pullback play. My initial target is the recent high at $52.50, and a stop will be placed at $44.90.
I bought 300 shares of STLD at $47.70. It looks like a high, tight flag is forming off of the recent breakout.
While all three involve different variations of breakout setups (breakout with high and tight flag, breakout-pullback and pure breakout), a common theme is that they have all been trending higher and under heavy accumulation.
4 comments:
Hi
I am reading your blog regularly and trying to learn as much as possible from your trading. Can you please explain little bit more about your entry on the pullback? In general I understand the tactics but I do not understand how you time the entry precisely. For example in your last pullback trade DXPE why you enter today and not, for example, yesterday or day before? I am more interested in general than in that particular trade.
And just from curiosity: since you start the new blog I estimate that you are around 70-90% up in your portfolio? Is my estimation correct?
To be honest, I'm not that precise in my entries. If I'm swing trading for a $3-5 gain, I am not going to quibble over 50 cents.
I could very well have entered DXPE on Friday, I was jut focused on other sectors that day. Technically, the stock hasn't changed since Friday.
I hope to have my trading results posted in the coming weeks, with detailed stats. It's been a good year, knock on wood . . .
the years not even close to over
thanks for your contribution . . .
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