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A Wyckoff Student Notebook

Discussion in 'Trade Journals' started by Onepoint272, Apr 27, 2016.

  1. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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    Years ago I used to subscribe to Investors Business Daily, the daily paper, and then later I did the on-line version for a while. It was started by William J. O'Neil, a guy who made a fortune back in the 60s buying innovative companies, like the company that invented the birth control pill and Playtex, etc. I think he may have coined the Cup and Handle formation and uses the CANSLIM method of selecting stocks. Every letter stands for something:

    Current quarterly EPS
    Annual Earnings Increases over 5 years
    New Products
    Scarce Supply of Stock and Strong Demand
    Leading Stock
    Institutional sponsorship
    Market Direction

    The IBD rates stocks based on the above. The IBD 50 are the top rated stocks based on CANSLIM. With so many stocks to search, I figure its a good starting place to find goods stocks ready to move. Once you've had a stock take a 50% hit overnight you learn not to buy, or at least not to buy too much of, the mediocre stocks and stick to quality. The IBD 50 stocks tend not to surprise to the downside and cause you to say bad words.
     
  2. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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    The holdings of the FFTY (ETF that buys the IBD50) is updated on the previous page. The ones I like are ADBE, FIVE, LGND, SEDG, BZUN and DQ. Some of those charts are on the previous page. DQ is on the DQ thread. Here is one that is not on the IBD50 but its set up and ready or near-ready to go.

    upload_2018-5-20_23-46-22.png

    upload_2018-5-20_23-48-26.png
     
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  3. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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    @Jrich turned us onto WWE but I never got on board. Dang. All that news noise like when McMahon sold out made no difference at all to the CM's campaign.

    upload_2018-5-21_0-18-17.png
     
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  4. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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    I added BABA to my shopping list too. Its cause from the base count got used up, but now it has either re-accumulated or distributed. Not seeing a sign of weakness yet in this upper trading range I'm assuming re-accumulation.

    $2-box by 3-box-reversal Point & Figure:
    upload_2018-5-21_8-25-41.png
     
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  5. Jrich

    Jrich Well-Known Member

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    Ahh... Gotcha

    Im all for anything that narrows the search down.... Ive come to beleive thats why the Wyckoff method isn't as popupar or wide spread as others.... Because intails more than just entering parameters into a screener.. All research has to be done manually.. Its almost like work.. And people typically avoid work if at all possible (despite what any socialist will tell you)
     
  6. Jrich

    Jrich Well-Known Member

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    Happy to say i made some money off that one:cool:

    Less than happy to say i left twice as much on the table:oops:
     
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  7. Rock Sexton

    Rock Sexton Meat Popsicle

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    What's your guys' hot take on KSS?

    Sporting a very similar consolidation setup to AMD right now.
     
  8. Jrich

    Jrich Well-Known Member

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    I don't even remember drawing this chart (KSS), but there it is

    Looks like i had a target between $144 and $149 from the base range..... And this stepping stone consolidation is 17 columns wide, giving it a target around $109..... Maybe not ready to continue the mark up yet, but maybe worth watching!

    Screenshot_2018-05-21-14-32-12.png
     
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  9. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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    It has a 3.36% annual dividend yield.

    Maxwell Kohl founded traditional grocery stores in SE Wisconsin beginning in 1927 and in 1946 founded a supermarket and then the department store in 1962. Sold out to British Tobacco in 1972 but Allen and Herb Kohl continued to manage the company until 1976 when Herb became a US Senator. The company went public in 1992.

    On a monthly looks like it is gunning for $80 where if the dividend doesn't increase, the yield will shrink to 2.75%.

    upload_2018-5-22_0-26-12.png
     
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  10. Rock Sexton

    Rock Sexton Meat Popsicle

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    Wow - they shook a lot of people out on KSS the other day (5/22). It was down nearly 5% on massive 21 million sell volume the day after my post - yet closed the week positive.

    Still got my eyes on entry for it, as well as AMD <------- which refuses to give me a pull back to buy into. Seriously, it's been positive 8 straight weeks.
     
  11. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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    I know, I beat myself with a baseball bat every time I look at it....it looks hellbent for that 13.85 swing point.
     
    #191 Onepoint272, May 25, 2018
    Last edited: May 25, 2018
  12. Jrich

    Jrich Well-Known Member

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    Telecom showing some weakness... And 2 juicy looking trades are teasing me... I talked about going short S a while back, but never pulled the trigger.. woulda coulda shoulda, down 40% since then..... Maybe not too late for the party though.... TMUS showing similar action as S was... Looking for a test of that high volume node around $62, and if no follow through, then it may be ripe for the pickin, with a stop just above the supply line around $65

    if I pull it off, itll be my first actual short... ive bought puts before, but never actually shorted anything..... bout time I got my badge

    TMUS JUN 4 C.png S JUN 4.png
     
    #192 Jrich, Jun 5, 2018
    Last edited: Jun 5, 2018
  13. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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    I love shorting to a fault. I love to see that red waterfall and the blood running in the streets...the smell of terror on wave upon wave of panic selling. Its a wonderful thing. The downside is that you have to be more diligent and that sucks up your time.
     
  14. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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    The ES printed a breakout today (Monday June 4th) from the minor trading range that developed over the past 3 weeks. The break was on the lowest volume of the year. Even though it came into this 3-week-old TR from strength, it would've been nice to see some demand even though it isn't necessary. I went ahead and took a long position in the SPY anyway.

    ES Daily as of Tuesday evening:
    upload_2018-6-5_2-59-32.png

    The $15-box by 3-box-reversal P&F shows it may have more work to do before breaking out of the larger range:
    upload_2018-6-5_2-49-42.png
     
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  15. Rock Sexton

    Rock Sexton Meat Popsicle

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    Took profits off the table today for KSS.

    In @ 65.81 for 175 shares, out at 74.68. I do appreciate the PnF insight, always helps to contrast it with my own style.
     
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  16. Rock Sexton

    Rock Sexton Meat Popsicle

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    The mark up in AMD continues as it hit 15.66 just a minute ago.

    Man I hate missing out, but I thought for sure we'd get a dip. This is the 9th straight week that it's fully green.
     
  17. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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    Even a hockey stick has an end to its handle. Today closed high end with volume commensurate with its price range, but nevertheless it looks climatic.
     
  18. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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    So my FIVE had a good week so far and then after hours on the ER it shot up to as high as $96.25. I was tempted to take my 31% off the table but we'll see what tomorrow brings. My point and figure objective for the re-accumulation range is $118. The base-count objective is $185.

    upload_2018-6-6_21-29-19.png
     
    #198 Onepoint272, Jun 6, 2018
    Last edited: Jun 6, 2018
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  19. Onepoint272

    Onepoint272 2019 Stockaholics Contest Winner

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  20. Rock Sexton

    Rock Sexton Meat Popsicle

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    Any opinions on VRX?
     

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