You should have bought it!!! Sorry, I did not see your post.
IREN appears to be a hot meme stock because it is in bitcoin mining, which means it might have valuable energy contracts needed by AI datacenters. Expected to have high growth this year. The green circle on the chart is where IBD placed “ants”, which denote 13 of 15 days being up and high volume of accumulation (which means more than a meme stock). Ants can mean a near term top, which happened, but longer term price increases because so many institutions were accumulating. Last two days had big moves, not sure why, but both were bad market days, so it bucked the trend. At this point, you have to handle it like a high-flyer, smaller position to mitigate risk and a logical stop loss. I don’t think I could buy this because I can’t spend enough time watching it closely.
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Here is another mistake I should learn from, but I keep on doing it. The market, or my over cautiousness make me start small and fail to commit more before the stock moves too high
For $FTI, I bought 1/4 position on the strong breakout. A breakout with that much volume must get at least 1/2 position. I think the fact that it was on the Video the night before made me think some of that might be IBD members. Today, I was not around in the morning and did not put on a buy-stop. So, after lunch I buy a 1/8th position and put on a limit for a lower price. The stock never got close to my limit. I was out in the afternoon and did not add manually. Now the stock is near the top of the buy area. I should put a limit on to buy Monday if it dips a bit. The two days of high volume price increase give this strength credence.
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Thanks for the response. I’m sorry for posting on this thread. I thought it was the one that you two were on all the time and didn’t notice that are on the newer thread. I did buy some and thanks again…doc
No, this is the right thread for “IBD Trading”, the other threads like “Market Health” or “Trade School” are subject specific.
Andy has not posted in a while.
$FTI is doing ok
$IREN is very strong. Just today was another opportunity to buy as it jumped above recent consolidation. Stop would be low of the consolidation, though that is not even the 21dma line, which is 28% away and can’t be used as a legit stop!
Those to big days did turn out to need a rest and could have scared traders out on the following days, which seemed to go just below the lows of those two bars. Congrats. If you get some big meme jumps, move your stops up. Webby always says “If it can go up 15% in a day, it can go down 20% in a day”
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Cup Handle Example:
I was lucky enough to see $BTSG on breakout day and grab a half position. I was dumb enough not to have a buy-stop add on in place and on day two had to settle for a small add at the top of the buy zone. This is one of my ongoing mistakes in position trading.
But this is a beautiful base, with some key supports. The base fell until it found support at the 200dma. It then started the right side with a continuous run up that included a move above the 50dma. If I had been watching this for some strange reason, I probably would not have bought early down there as it was so far away from the highs.
It ran straight up until it got near old highs. That last day looked very strong with 3.8% gain and a close at the highs of the day. When Ed Carson is doing the IBD videos he will say that he would not buy there because it has run so far without a rest. He would prefer to wait for a handle. In this case we got it. It was a great handle too. It slowly inched down on low volume as weak holders left after almost “breaking even”. The first up day in the handle was an upside reversal off the 21dma. This also broke the downtrend line. If you are watching then, you have to take the early buy. I was not. A few days later, it gapped up into the buy zone on strong volume. I did well by taking that 1/2 position, but like I said, my follow through was poor. It is strong enough that I should add more if it come in a bit.
Also, look at those great growth numbers at the bottom of the chart. Top notch.
$BLD is setting up now on a HUGE cup with handle. This is dependent on the housing market and is no doubt ready to breakout because we know the Fed will cut at least 25bps. In this case, I have a buy-stop in for when it enters the buy zone. The risk is that it might fade, but my loss should be small. Any kind of positive news on rates could really make it jump. The EPS and Sales growth rates at the bottom of the chart are terrible, but we expect that from housing and are willing to look to the future when buying a breakout here.
I also have a buy-stop on TEL. IBD noted it had huge buying from growth funds in August. This one has weak growth numbers, but very strong growth ratings (top left). It had a very long flattish base and then a breakout that ran up into its earnings. Clearly earnings were great and it gapped up and formed a bit of a flagpole. It is also an IBD stage 2 flat base and looks like an official Darvas Box. Call it what you will, the setup looks great.
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@physician $IREN is killing it, congrats. Now is the time to think about not losing it all. Make sure you have a strategy for locking in some gains. Sometimes you want to take a little off by selling into strength. You can also start having trailing stop losses with a %loss max or by picking technical sell points and moving up as the price goes up.
Sometimes Webby talks about setting the stop at the low from a couple days ago after big moves like this. It had that nice consolidation around $30 then jump, consolidated and then jumped again today.
Some might put a stop in at 29.93 (just to be around the “round” number of 95 cents). $31.47 is the low of that last red day. You don’t have to stop/sell all at once either.
Powell could disappoint and hot stocks sell bad. Or the market could sell on the news to take profits. The last two weeks in September seem to be risky.
Just have a plan before things might get emotional
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Thanks so much. I appreciate it…doc
$APP is a monster. It jumped up on HUGE volume Friday. Wish I owned more, but I cannot buy it like this. Need a mini-base , like a flag. Very strong IBD ratings. Massive growth on sales and EPS. The kind of stock that could easily double again.
$CLA super strong IBD ratings. Great EPS growth and pretty strong Sales growth. This is a perfect setup. My buy stop is above that flag you see. When it breaks past there, it could rocket.
$GVA is road construction, so it has good tailwinds, but would not become a meme stock loved by all. Very strong IBD ratings. I would put a buy stop above that $112.16 level. It would be a diversity from tech stocks and meme stocks if one were too heavy in those.
All 3 have “Very bullish” rankings by Chaikin power guage.
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$HOOD up 4x from April lows, but giving a chance with this very high volume move above recent “shelf”. Somebody was buy big Friday and that could provide a tailwind. IBD rankings very strong and we have had triple digit EPS growth and very strong sales growth in last 3 quarters. Stop loss could be below Wednesday’s low.
$MSFT is a long-term leader that has found support at 50dma. It appears to have formed a bottom so a strategy might be to start building a position as it builds the right side of the base. It is in a Stage 1 flat base that is only 11% deep. Very good IBD ratings. EPS and Sales growth is only ok, less that 25% a Q. Friday was a high volume move above the 50dma. If the daily low stays above the 50dma, it would show good strength. Taking a starting position here would be done with a stop loss below the 50dma.
$PJT is an old MF rec that I trade around, so I am a bit biased on this one. Its IBD ratings are strong with the exception of EPS growth. Quarterly sales and EPS growth is a bit erratic. This is not going to shoot up 30%. It has a long cup with handle base and the handle is long enough to be a flat base on its own. It tried to breakout Thursday and could not do it. Friday it was down only 0.3%, BUT, volume was 70% higher than average. I will but a buy-stop 1% above the pivot point. Given all the opportunities, I can’t really recommend this for others. The swing vote for me is the “Very Bullish” rating from Chaikin.
(all 3 ranked Very Bullish)
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$CRWD this is a serial compounder and cyber security will be a top need for ages to come. AI just makes it easier to hack and attack. Things are not perfect for CRWD. Sales and EPS have been erratic for a while and IBD ratings are not great. This is another of my old MF recs that I trade around, but it is not in a position to make a 30% move over the short term. But, I am willing to trade it on a good breakout. Thursday it had a big move up on strong volume. I think there was some news out or the CEO was discussing the future. Friday was large volume with no real price movement, thus a stalling day. I think some people were happy to sell into strenght and “break even” from the high point of the beginning of this base. I will set a buy stop or two above the pivot. If they hit but on weak volume, I can sell.
$DASH gets a lot of love from the “youngsters” and could, at any time, make a big run. IBD ratings are pretty good. It is forming a base and had support at the 50dma, but it is a late-stage (stage 5) base and less likely to go big. It has just started making profits and analysts are expecting big growth over next two years. Not presenting a good buy point, so would use buy stops at the pivot of $278.15 or a little higher.
$DAVE has been a “hot” stock for a while and has gone 3x from April lows. Has had some wild rides. Has had stellar EPS and Sales growth and if that keeps up, a double would be “easy”. Most IBD ratings are strong, but Accumulation?distribution is D+, which is not good. But Chaikin has this and the other two as “bullish”. S starter position could have been had on Friday’s very strong move above a small shelf. A buy stop could be placed at $249.90. I personally would not buy it right here since I missed Friday. A confirmation of strength with a strong move above $249.90 would give me more confidence and a logical stop loss. Tuesday, it bounce off the 21dma, which led to the last 3 up days. That is always an event to consider trading.
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$JBL - is riding the AI-datacenter super-cycle (like CLS) buts its EPS and Sales are just ok, except last report resulted in a high volume gap up and this recent run. Investors must think this can be continued. IBD rankings decent, expecially for EPS and Composite. It is in a stage 3 base (a bit late), but the depth was only 15%, so nice and tight. The Thursday move above the 50dma on volume was an early buy. Friday was high volume, but a small up move. I think an early buy at this price and buy-stops on a breakout is the way I will go.
$MNGI - is in the digital ad biz. Good EPS growth on single digit sales growth. IBD rankings are pretty decent. In a stage 1 base which broke out a couple weeks ago on vol 54% above average, but then it faded all the way to the 50dma, where is bounced around for a bit. Friday was a high volume move off the 50dma and back into the buy zone, a very strong buy signal if you got in early or as it broke out. I don’t know what I would do here, it could certainly become a hot stock if I don’t buy. It is only 3% into buy zone, so I hope it goes down 1% on very light volume so I can feel good about taking a position.
$ORCL - had a big gap up recently on earnings and forward guidance for tons of AI datacenter build outs. I did take profits at that point, but it was premature. It is now doing what one would desire after a big gap up, settling down, letting us find a buying opportunity. Webby reviewed it on the Friday video and said Friday was a buying opportunity for swing traders. It was a high volume up move and Webby says he would put stop loss at Friday lows or even Thursday lows.
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$OUST provides best in class LIDAR for drones and autonomous vehicles. Last 4 Q of EPS and Sales a have been strong, mostly above 25% growth. This could easily become a crazy meme stock if it is not already. It found solid support at the 50dma and was able to buy it when it moved above the 21dma on Wed, then again when it moved above the $32.60 high on Thurday. Friday was a small downside reversal, but this will be erased from concern if we breakout above the high of $36.25, where I will have a buy stop. This is one I feel could go up 30% in a week. It has real earnings and a “cool future”.
$PLTR - has had multiple quarters of great growth, yet is still one of the most overvalued stocks in the market. But nobody cares because they could be the next NVDA. But NVDA had plenty of big declines in its long run, which means plenty of opportunities to pick it up at a better value. I have been accumulating since put in a bottom and started staying above the 50dma. I will put in a buy stop at $190 for a proper base breakout, but if the market turns, this could go down fast and I will be ready with stop loss orders. This is so loved, that I predict it will breakout above $190, go up 20%, then have a nice big correction. But predictions are just for fun, buy-stops and stop losses are for trading.
$ACHR - a meme stock for sure. It competes with JOBY for the “EVTOL” market (flying cars). I like JOBY better at the moment, but like the Nuke stocks and Quantum, they will move as a group if one starts taking off, no pun intended. Friday was the start of the big move (if it happens). It had been struggling to move above the 200dma, but finally did it Friday, stopping just below the 50dma. A perfect setup for a buy-stop above the 50dma with hopes for a stupid big move (see INOQ). JOBY was up 13% with a big move above 50dma on Friday. ACHR is a money loser, but that is not important in a market like this. It will be important if the market can’t hold the 21dma however, that will be a sell.
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$SOUN - AI voice recognition for autos and drive-throughs. They have to compete with auto incumbant Cerence, so that is a tough roe to hoe. They have some restaurant drive-through customer, but I heard Taco Bell abandoned the AI drive-through. I don’t know if it was by Soundhound. NVDA owns part of the company, which gave it cred a while back, but I believe the investment was so Soun would have money to buy NVDA chips. Sneaky. It is a money loser, but nobody cares at the moment. If next week is good for the market, this could run. I could see putting a buy stop at recent high of $17.08, hoping for a big run after a breakout. Sales have been growing at a high rate.
$AFRM - Approaching a recent high of $90.20, where a buy stop could catch a nice breakout. This is another memey favorite of the “youngsters” and can easily move quickly. This is a real company with strong sales growth and positive earnings that are expected to grow fast. This is the type of factors that can make a stock double in a short period. AFRM had a big, high-vol gap up after recent earnings and this is a “settling pattern” while it digests those gains. An expectation is that a move above the high I mentioned would lead to a move above the $100 high of the gap up day. Breaking above nice round numbers also has a positive effect on buy psyche.
$JOBY - another flying car company. Received permission to test in Saudia Arabia. Still losing money of course. Very strong move above 50dma Friday, and needed to be bought then. Maybe a pause on Monday would be a place to make a small bet, but is it 6% above the 50dma. Not bad for a stock that makes such big moves. Keep an eye on this for a better setup.
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$SERV - could me a hot meme stock as it does “robotics”. But it is data warehouse robots, so boring. But the chart shows some meme excitement every now and then. Still a money loser with erratic sales growth. Broke out of a stage one base on Friday. Up 8.8% on high volume, but then faded. Finished at 4% of range, a little closer on ATR range, but that is iffy. If it breaks above the high of Friday, it could go. I would put a buy-stop at Friday high or maybe one for when it reenters that blue buy zone.
Rated “Very Bearish” by Chaikin
$ETHE - Webby talked about this in the Friday video, likes it better than IBIT at the moment and it has Tom Lee pushing it (and his company BMNR). Webby went in heavy at the good move on 9/12, but he was wrong and sold. He is looking for a move above that. He did not say so, but a strong bounce off the 21dma could be a buy trigger too. Stop loss could be below the 21dma.
$HNGE - recent IPO that provides online, AI-base physical therapy to patients in homes, saves insurance companies good money. Had a big gap up after first puble earnings report and we have been consolidating below that high for weeks. Tried to breakout at $60 and failed, so that is the place to put a buy-stop in case it works next time. It has had some profitable quarters and sales growth is strong.
$TTAN - Recent IPO that helps small service businesses run their company (think plumbers). Showing good sales and EPS growth over last 4 quarters. It reported strong earnings a couple weeks ago and gapped up. It could not get above the $120 area then and started selling down. Not a biggie for a big gap up. Thursday was a strong bounce off the 50dma, but Friday was a VERY high volume down day where it closed at lows. That is a bad sign. I would not want to buy at that low. But a strong move above $120 would be a buy and I might put a buy-stop there.
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I’m more of a lurker here, but on two of the names mentioned:
$APP was recently added to the S&P 500 effective Monday, September 22, so any funds tracking the index would need to hold it which has led to recent volume.
$CRWD just raised its 2027 guide for ARR (and by extension revenue) at its customer conference. That’s what led to the big one-day jump last week.
So both of them have external catalysts in addition to whatever support or momentum the charts might suggest. Thanks for the commentary here. It’s always interesting.
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@stocknovice good to see you, I recall you from Saul’s board. I have not been there in a while. Is Saul still the main driver? I recall he was pulling out most money into a stable account for his family.
Pete
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Hey Pete -
Thanks for the note. The spirit of Saul’s is still there, but some new names are doing much of the posting. Old names like Bear, GauchoRico, muji, or myself still post occasionally, but the monthly recaps are being driven by others.
Saul has mostly closed his investing accounts at this point. At this point and his age (I’ll just say that we all should hope to live as long and as well), he has certainly earned the right to go out on his own terms.
Again, thanks to everyone for the info here. I enjoy following along.
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Oops, I forgot $NBIS. I have a buy-stop at $100.55 (To let it get a little above $100 before I buy). Losing money, but sales growing fast (rents out its ai-datacenters). Gapped up on a huge deal announcement with MSFT - vol was +557% that day. This has been a meme stock and could go stupid again. Good vol last 3 days.
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$CLS triggered my buy stop and faded. My buy stop was a little flawed as it was not at the highest point in the “shelf/Flag”. Since it failed, I should take the 0.4% loss and set the buy-stop more appropriately.
$CLS competitor $JBL also triggered my two buy-stops while breaking into a proper IBD buy zone.
$NBIS triggered today before the NVDA-OpenAI announcement then went up a little more afterwards.
$SHOP had a proper base breakout, so I had some buy-stops that hit. IBD rankings very strong, but breakout volume was weak. This is a trade around my core position but one I hope to hold longer than a high vol stock like $NBIS
Update: I decided to sell $CLS on flawed buy-stop and failed breakout. Set new buy-stop at the highest point on the shelf.
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Also bought $EME today. Verry strong move yesterday and good vol move today. Very Strong IBD ratings. Very Bullish Chaikin rating. This is a 1/4 position early buy with two 1/4 position buy-stops in the buy zone.
Probably got a little boost from NVDA - OpenAI agreement today. That will take a lot of energy. VST nudged above a consolidation shelf as well.
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