Very Important Blog Post explaining GLBs: Day 15 of $QQQ short term up-trend; 123 US new highs and 2 lows, 43 at ATHs; $PGR is an example of a successful GLB, see its monthly and daily charts and a list of 16 other stocks with a recent GLB.

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The leading successful stocks bought by such greats as Nicolas Darvas, William O’Neil and others are those that go on to a series of all-time highs. These traders tended to buy when a stock hit an ATH, consolidated, and then broke out to a new ATH. That is the idea behind my green line breakout (GLB) setup. I draw a green line on a monthly chart at the price bar during which an ATH was reached that was not exceeded for at least 3 months (bars).

Look at this monthly chart of PHR. In April, PHR reached an ATH= 149.87  that was not surpassed for at least 3 months. That is where I drew the green line and set an alert in TC2000 to tell me when/if it ever trades above that green line. The daily chart below shows that PGR had a GLB on October 13 on unusually heavy volume, a good confirmatory sign. PHR never closed back below its green line (which would be a failed GLB)  and closed Friday at 163.72, up +9.2% from the green line. PGR has an IBD/MS Composite rating=96. I always check out IBD/MS fundamental ratings before buying. I want to buy advancing stocks that have great fundamentals.

Buying GLBs can be very profitable during market up-trends, but most people think it is better to buy stocks at lows–WRONG!!! I buy high and sell higher. We want to hitch a ride on the way to the moon. Other stocks I have noticed that recently have had a GLB are: CMG, MSFT, DUOL, MPTI, QLYS, HLT, CAH, CRH, WING, RACE, V, COR, AIR, ITT, L, CNM. Check them out. Why bottom fish or buy  stocks way down from their  ATHs when there are so many rockets taking off to ATHs and to the moon. It takes a rocket scientist! Once I buy a GLB, I sell immediately if it closes back below the green line. If I miss the day of the GLB, I will buy it afterwards if it exhibits another of my entry setups. I only buy stocks trading above their last green line tops!

 

The GMI= 6 (of 6) and Green. Time for me to be invested long.

 

Blog Post; Day 48 of $QQQ short term up-trend; My favorite set-up, oversold bounce (black dot) after a recent yearly high, see charts of $OPRA, $BELFB and list of other stocks

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I have been refining my black dot oversold indicator by requiring a prior recent yearly high. I am looking for a stock that has been strong enough to reach a high  and then becomes oversold and starts to move up. The beauty of such a set-up is that I can place my stop loss below the low of the bounce day. If the bounce fails I am sold out with a small loss.  OPRA kept showing up on my all-time high scans and then had the OSB, designated by the black dots. OPRA has an IBD composite rating=99, RS=97 and ACC/DIS=A+. Earnings are expected to rise +96% this year. It is involved with AI and has already advanced 6x its year’s low price. I missed this bounce and do not own it. It is above its last green line top.

BELFB triggered this set-up on Friday and I bought a little. Let’s see of it holds on Monday. Note it is also above its last green lie top.

Other growth stocks meeting this set-up on Friday appear below. They are sorted by the last column, which is close/minimum price last 250 days. BELFB is 3.3x its low.

 

The GIM remains Green.

 

Blog Post: Day 37 of $QQQ short term up-trend; see list of 10 doublers that reached an ATH on Wednesday, and the daily charts of $BLDR and $PHM show my new OSB indicator

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These stocks from my IBD/MS watchlist all at least doubled their lows the past year. See list sorted by last column, close/low price past 250 days. Note the predominance of construction stocks.

This daily chart shows my new oversold bounce (OSB) indictor, designated by a black dot. Note also the green line break-out (GLB) last April.

And PHM, black dot and GLB!