This might be one you want to watch. It sells two self defense launchers(GUNS) that are non-lethal. Guiding for 193% revenue growth next quarter. $BYRN Just became positive earnings last quarter on a Gaap basis.
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That is an interesting jump, looks like an earnings preannouncement…
Watch to see if the stock makes a test of the 21-day exponential moving average. For active traders, a bullish bounce off the 21-day line could provide a secondary entry.
Byrna Technologies Announces Record Preliminary Q3 2024 (globenewswire.com)
Very small company with a market cap of $341 mil (after the big jump).
Looks like it is getting contracts with Mexico and Uruguay.
If it consolidates this big move then moves into the buy zone on volume, it would be interesting. The market cap is a worry for me.
Watch list:
CAVA, COST, SN, MMM, NFLX, AXON, URI, APP, SFM, FRPT, LLY, RYAN, TTD
True buy into on a small position which keeps risk down.
These are what I think are the top stocks in the market.
TMDX, SMCI,NVDA, Hood, Meli, Fix, App, Pltr, Aspn, Bitb, Wing, Cava, Adma, Agx, Byrn. I have all of these on my watchlist.
Here are the charts for my partial sales of TDG, AEM, GVA
I did not sell 50% of TDG like I posted, I sold 1/3 of my shares and only had a 2/3 position, so now I am at a half position.
$AEM is still looking strong, great IBD rankings. Still above buy zone. RS is 95, but price fell below 21dma and still below it, but touched it today.
$GVA is also still looking good. Great IBD rankings, RS 95. It did find support at 21dma so it hurt to sell 50%, but I can buy it back. Problem is, the market will probably scare me off from buying back.
$TDG
This was a relatively new buy of a stock I used to own from a previous breakout. You can see where I sold that lot back in Feb. Looking at the chart, it seems dumb. It did not even go below the 21dma. It is impossible to hold a long-term giant winner when you sell that easily.
This time, it did fall below the 21dma on the day I sold it. Today is just creeped back up above that.
I did not have any weak holdings left to sell and I feel very good that I spread out partial sells over some strong stocks, two of which had profits to lock it. I hope to keep doing that more in the future.
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Exactly Pete so you have to decide just how you are going to invest. I want to find the best of the best and hold them as long as they ride above the 50 day. Still fleshing it all out but right now we are getting whipsawed. I named what stocks that I think are leaders but that is not to say any of them are buys at this time.
Bought App coming out of a flat base on volume of 139%. Put on 1/3rd position with stop at 5%.
Also picked up 1/3rd position in Fix coming over the 21EMA. Low conviction due to low volume but strong company and early buy in. Stop at 5%
Nice buy, IBD had an article on it so I was wondering if that pumped it up. I am thinking 5% might be a little tight for a stock that just made a 12% move, but that says your expectation is “this big move is a huge sign of strength and it should keep going up and have good support on down days, therefore 5% is enough of a loss to break my expectation”.
MELI looking good.
I rebought some NVDA, added to ONON, added to CAVA. Bought 1/3 position in MOD, which I owned long ago and sold before its huge run. In same IBD group as FIX but FIX has better IBD rankings.
CARR in same group, it jumped above the buy zone, I had sold at bottom of buy zone.
Today was a nice upside reversal, which gave me the incentive to buy.
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Pete I think this market is treacherous and I was even considering not buying, the size of my position is because of the market, the stop is due to if the stock doesn’t want to go up then I do not want to be in it. The weakest part of my investing is my selling and I want to let the great companies run after I get a nice growth in them. But at the beginning they are only going to get 5% drop. I do not want any double digit losers anymore.
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Andy, LLY is on swing trade (per an article). It has had support at the 50dma and today bounce up nice and even moved above 21dma. If you want a safe trade, the stop below the 50dma would be about 2.2% loss. This could easily turn into the long term holding you are looking for. I might try that myself.
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I looked at that today Pete and it looks really good.
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$BYRN popped over it’s buy point on really strong volume. Unfortunately I missed it but watching to see if it comes in.
I did the LLY swing trade today. Stop loss just below 50dma.
Nibbled on a few MF holdings.
$VIK is interesting. It is not in an IBD buy position, but coming off a double bottom low with 1000% volume above average for this time of day.
Too bad about $BYRN, something is going on.
$FIX doing well, I will add to my new $MOD today.
$AEM jumped on gold prices, but now I can’t bring myself to buy it back.
$NVDA is now above 50dma. Jensen Huang was just at White House with other AI CEOs. I am sure he told them how important AI is to the world and hopefully they will not screw it up.
$MELI broke above that little shelf area on strong vol
$GE bouncing off 50dma on +9% vol. IBD would probably say it is an “early entry”
Naz above 50dma. If that holds for the weekly close, IBD may raise exposure to 60-80%.
$CAT in stage 1 cup with handle and breaking the downtrend line of the handle. Would call that an early entry. The IBD rankings are not great, so I would not buy (also, I have some long-term outside of IBD and am happy watching it breakout without adding more.)
About the same for $AXON, I have tons so will not be making an IBD buy as it breaks above recent highs. Great IBD rankings.
Still keeping an eye on $RYAN, looking good, needs to break that down trend on good volume if you are looking for an early buy.
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I was able to get into Byrn at $16.11. While not ideal it is still under the 5 percent that IBD recommends. I also picked up some more NVDA today and have a full position now. I am at 50 percent in the market now.
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$AEM had a nice move on gold price pop, IBD Leaderboard upped it to a full position. I did not repurchase my recent sales, but probably would have if I had known about Leaderboard’s action
I bought $MOD last 2 days, now at a 50% position
Been buying $NVDA recently and added today as it broke over 50dma. Andy has a full position, but I have just been picking at it with a little caution and am at 1/3 position. Andy it probably more right on this one, but it still has a breakout to get through and I can add after the Fed and/or that.
Been adding to $CAVA. Bought back in after the 8/5 decline turned into the 8/13 FTD and CAVA was breaking out of a cup-like base. Then it had a big gap up on earnings and I drew a checkmark like pattern in the magenta lines you see. This was my hope for a post gap consolidation and then a run up. So I have been adding on that pattern as it happened. Up to almost 2/3 position. Definitely hot for this stock and will complete position or more on a good breakout.
$ONON was one I held onto while raising cash in the recent dip, it looked strong and gave me confidence. Never closed below 21dma. Now it is at new highs. I added the other day, but am only at 5/6 position and can’t add now. Maybe in the future. I still keep failing to get a lot of full positions, and need to work on that.
As noted before, I sold partial position in holding during the decline (after I had fully sold weak or low profit positions). IBD talks about this and I am very happy I finally used that approach. That kept me partially in AEM, GVA and TDG. I don’t think GVA closed below 21dma and is moving back up now. That is strong and I should buy it back. TDG was mostly early buys and I could buy back on strength or a good breakout.
I am 57% invested and IBD is at 60-80%, so since I am listening to them on the way down (raising cash), I should listen now and buy a little more even though the Fed might give us an opportunity off a “disappointing” 25 bps cut.
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Stopped out of $Byrn today, App up almost 20 percent in 2 days moved stop up to $99 dollars right under the 100 dollar mark.
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$Hood popped out of a stage 1 cup and handle on low volume. Bought 1/3rd position and put stop 5% under buy price.
$Hims I have been watching. It passed my trendline, came above the 21ema and now has moved above the 150sma. I bought a 1/3rd position and put a stop 5 percent below the buy point. Volume was not as much as I would like but ok.
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A short video on risk vs reward if anyone is interested.
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