RE: Watchlist - Investor method
(2013-03-29, 11:53 AM)isatrader Wrote:(2013-03-29, 10:47 AM)Lplate Wrote: PS I see now it is listed as a trader b/o on 4 March http://stageanalysis.net/forum/showthrea...F13#pid101. . .
I've attached a daily chart of Best Buy and the point and figure equivalent that the 4th March signal was produced from. This shows the three double top breakouts since the beginning of the year, and as you can see, it wasn't until the third breakout on 4th March that the 30 week MA turned higher making it suitable for the investor method, and so the early breakouts would have only been suitable for the most aggressive traders, as the 30 week MA was still declining and there was nearby resistance to get through also.
Isatrader, thanks for clarifying that 4 March was not a trader b/o but an investor b/o. To clarify for anyone reading, it seems my mistake is in not seeing the slope of the MA correctly, and indeed on a bigger chart it is clearer that the investor b/o occurred as isatrader said, at around $18.50 in early March, not as I said at around $21 in late March. http://scharts.co/106ivCe
The original stop from early March would have been, I guess, below the spike down, around $15, and most people would by now have moved it up to at least $17.
My trade suggestion really suggest me being brave enough to have a stop at around $19.