2019-01-10
This trade idea came to my last year and I had been watching this for a few weeks. This was in Investors Business Daily Stocks on the Move Up in price on 2018-11-18 and I decided to put it on my watch list. It was then featured in IBD Weekly Stock Spotlight VOL 35 NO 38. I was looking for a good time to enter a position.
When screening stocks I'm focusing on stocks in the $20-40 range, because I buy in round lots in order to be able to sell a call against it - Covered Calls
I have been cautious with the current market conditions, but I am still testing the waters. I'm building up my portfolio slowly and I felt this was a good time to enter
I bought on 01/04 and I am at Trading Day 5 with a Time Stop of 7 days. If I buy a stock and it is not making me money by 7 days - it a sell.
I am setting my targets based on the charts instead of a hard percentage. This is a modification to my Trading Plan
I got filled at $16.66
-5% stop = $15.68
10% Target = $17.50
IBD Rankings 01/10/19
Composite Rating: 97
EPS Rating: 89
RS Rating: 95
Group RS Rating: B+
SMR Rating: N/A
Acc/Dis Rating: B+
ROE: 0%
Debt: 0%
Outstanding Shares: 62.6m
EPS Due Date: 2/11/19
Dr Alexander has a triple screen for viewing charts and Trading for a Living is why I use the following charts
2019-01-27
I closed out the position Friday, because the momentum had been drying up and I wanted to lock in the first gains for this year. I got filled at $17.94
