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I have 22 consecutive profitable trades of 15% or better. How is this possible? Every day there are hundreds of stocks setting new highs, no matter what happens in the overall market. Many of these stocks are still at very reasonable valuations. Afraid of buying stocks at their highs? Think of it this way: a new high is really a future floor for companies with solid financial underpinnings. Quantitative momentum modeling makes it easy to identify stocks that can continue this upward momentum trend. Why does this happen? It's really very simple..ask me about what investors and cows have in common. I am $$$ MR. MARKET $$$. I AM HUGE!!! Bring me your finest meats and cheeses. You can join in on the fun. Register for free and you'll be able to post messages on this forum and also receive emails when $$$ MR. MARKET $$$ makes his own trades. ($$$MR. MARKET$$$ is a proprietary investor and does not provide individual financial advice. The stocks mentioned on this forum do not represent individual buy or sell recommendations and should not be viewed as such. Individual investors should consider speaking with a professional investment adviser before making any investment decisions.)
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  1. #171
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    Jun 2009
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    I had a nice short trade today on TLRY. Ever since I got in on TLRYís monster drop from $300 (I put a strangle on it at the time), this stock on been on my perpetual watch list, and I have traded it multiple times, both long and short. Today I shorted it in a rare (for me) counter-trend trade (The futures were moving sideways when I initiated the trade and headed up as the day progressed). I just liked the setup and the risk/reward, so I took a shot.

    Annotated 5 minute chart for TLRY:
    https://www.dropbox.com/s/sybu6fc83e...%20PM.jpg?dl=0

  2. #172
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    Jun 2009
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    I entered a very risky short hold position today on TLRY at $95.80. Itís risky because itís a cannabis stock, and these can heat up in a flurry. Still, I felt the risk/reward was good, and I found that both the chart and the company fundamentals warranted it. Iím hoping it will become a monster short and drop to the $50ís or $40ís, but I would be happy if it just took out the October dip and dropped to the low 80ís. If it reaches that level, I use a liberal trailing stop to try and ride it to even lower levels. I have day traded this stock both short and long over the last couple of months, and I had a option strangle on it when it sky rocketed to $300 back in September. So I got bold today, and made a play for the longer term. Now, letís sit back and watch it gap up to $150.

    Annotated daily chart for TLRY.
    https://www.dropbox.com/s/0c58272ulo...%20PM.jpg?dl=0

  3. #173
    Join Date
    Apr 2013
    Location
    Florida
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    159

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    My brother has someone daytrading the Cannabis stocks for him. He is disciplined and uses technical entries. They have been daytrading CRON to my knowledge without any success for the past week. I'm tempted to go in to my local hydro store and ask their opinion on the marijuana stocks.

  4. #174
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    Jun 2009
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    There is some money to be made trading Cannabis stocks, no doubt. Trying to trade them on fundamentals alone, however, is extremely difficult. There are a ton of companies vying to get a foothold in the market, and it is difficult to know which ones are going to emerge. If you are interested in Cannabis stocks, check out ďPhoenix7ís Stock SizzlersĒ thread. Phoenix7 is much more knowledgeable about these stocks than I am. I am mostly a day trader, and I trade a variety of different stocks based on technical (and fundamental) scans.

  5. #175
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    Jun 2009
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    Got lucky on TLRY, and itís time to start trail stopping. Currently at an 18% gain. Trades like this donít come along that often, especially since this was against the (micro) market trend. Itís always tricky to trail stop, especially if you think the stock still has room to run and you donít want to exit too soon. On the flip side I already have a lot of profit in this one, and I donít want to give back too much. I looked at the daily chart for a technical stop, but it was pretty much a straight drop. So I went to the hourly chart for a pivot or base, but the nearest base was at $90. Thatís too far away since it is currently trading around $78. Iím therefore just going to use a straight $2 trail stop.

  6. #176
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    Jun 2009
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    Oh well, I jinxed myself by posting. I trail stopped out at $77.69. I wanted to see it go to $50, but I had a plan and I stuck with it. Besides, I can always re-enter on a bounce if I remain convinced itís heading to $50. I still had a 21.7% gain in just three days, so I am grateful. I hope by posting my thinking on this trade, it helped some of you.

  7. #177
    Join Date
    Oct 2003
    Location
    Hamilton MA
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    1,887

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    I've been watching it all morning on the CNBC ticker because of your trade as it headed South. Good call, too bad about the stop.

  8. #178
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    Jun 2009
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    Quote Originally Posted by Louetta View Post
    I've been watching it all morning on the CNBC ticker because of your trade as it headed South. Good call, too bad about the stop.
    That was quite a drop, huh? I have no complaints, though. It was a good trade for me, and if I donít stay disciplined about my stops, I might ignore one on another trade that goes against me. I will study this chart, however, to try and learn how to better handle a run away pattern in which the chart doesnít give you any clear pivots or bases to use for trailing stops. The fixed dollar amount trailing stop I used was completely arbitrary.

    You want to see a really bad drop? Take a gander at YRIV. They spiked up very quickly back in late May and early June and just gave it all back in six days. Hindenburg Research put out a very negative report on them, basically calling them a scam operation. In the report they said the company was more or less worth nothing, and by the looks of it, it may indeed be headed for zero. Of course, Hindenburg precipitated the fall with their report, but if you read it, they seemed to have done their homework, even using field investigators on the ground in China to confirm certain details. I have to admit, I often have doubts about trading Chinese stocks because I donít believe their financial reporting is as carefully monitored or regulated as US companies. I mean what exactly can the SEC do if they lie on their financials? Send them a harsh postcard?

    Non-annotated Daily Chart for YRIV:
    https://www.dropbox.com/s/9x075rfq8a...%20PM.jpg?dl=0

  9. #179
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    Jun 2009
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    Here an interesting trade today from NKTR. I have included both annotated daily and 5 minute charts. Thereís a lot of interesting stuff going on in the daily, which I have noted in the chart. The 5 minute chart shows how I played it. Since there were no clean bases for the most part, I used pivot lows as stops.

    Annotated Daily chart for NKTR:
    https://www.dropbox.com/s/0jehl16d86...%20PM.jpg?dl=0

    Annotated 5 Minute chart for NKTR:
    https://www.dropbox.com/s/z62asn9fqf...%20PM.jpg?dl=0

  10. #180
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    Jun 2009
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    I told you that I was seeing a lot of little basing patterns. I came across several more today and thought I would share one (CBS). I have included an annotated chart. I havenít traded this one yet, and I might not even if it breaks out to the upside because itís not technically in a bullish state unlike NKTR was previously. If the markets were rockiní to the upside and it broke out to the upside, I probably would take a shot, but if it were another day like we have been having this week with mostly sideways movement or if the markets were falling, I would probably just leave it alone. Just wanted to share this because it was such a clean pattern. Too bad itís in such a bearish state.

    Annotated daily chart for CBS:
    https://www.dropbox.com/s/zdbfuiuwdo...%20PM.jpg?dl=0

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