RE: UK Stocks - Watchlist and Discussion
(2016-10-20, 11:27 PM)isatrader Wrote: Yep, imo it's at the investor Stage 2A entry point today, and so I'm considering buying it tomorrow personally if it still looks right, although I might hold on until later in the day to see if it confirms and meets the weekly chart criteria, but as the close today was good, I will see how I feel about it in the morning. As am out for parts of the day at work without access to my account, so can only trade it on the open or at lunch time.Might get in myself. Unfortunately I don't have the option of makings trades during the day. And I absolutely don't want to try and do it from my mobile. So I have to put in orders in the evening or before work.
Quote:The only thing that's putting me off is the volume, as the other criteria look good. Will sleep on it.Volume is something I have to work on myself. Not noticing spikes, but the finer details like their size relative to recent performance.
Perhaps I ought to rework my screener to pick primarily on volume and then chuck out anything where the price is not breaking out.
Quote:P.S. On your note about selling on the rally if the volume doesn't confirm. It's not something I like to do personally unless it immediately fails the next week, as light volume alone in UK stocks isn't enough of an indicator as UK volumes don't tend to have the same patterns as the US stocks. As volume tends to be much lower and spreads much higher except in certain areas of the market.
Interesting point. I've had many positions where I was certain that I've got dead ducks but I have been awaiting a fall to a much lower stop loss. OTOH I've noticed after a breakout sometimes a week or so is needed for a stock to pullback a little before a climb back above the breakout. Minervi mentions this in his book. So being too hasty to sell would not work with these.
I've been following US stocks more closely more recently, simply as that is where the better performance has been.