Good question, I think so. I mean, CANSLIM makes sense to me. But I think more weight goes to the charts. Price pays
Help me read a chart
- Thread starter KGTrader4
- Start date
Does O'Niell Method trade mostly momentum/growth stocks?%%
Good question/ KG trend traderthose are some of the best books to help make a profit.
[1] A base is just a pause in an uptrend, or downtrend\his 50 dma + 200 day moving average helped me much much MORE than any base pattern....................................................
[2] Actually its a perfect place to buy , buy new 52 week hi/that how he made his fortune, + = fund managing NYSE seat, pro data sales practical profit helping books .
[3] You are not a ''dummy'' \simply learning.
MAIN thing you are MISSING on that chart is a 200dma, most all his[IBD founder] have 200dma + all his best charts have a 200dma.
[3-777] Pull up a IBD latest chart [investors.com] NTAP=86 EPS+ below 200dma sell signal. EVEN if the mini bulls in NTAP make money, some stuff is trending better above 200dma .
IBF founder notes ''200dma = ''late sell signal ''+ in that case bases dont mean much@ all below 200dma to buy it + its now an 86 eps.
That chart looks like 1999 or 2022in SPXS,SPXU, SDS.
yes it seems that way, part of canslim is earnings growth YOY and Quarter over quarter
Murray might be a good guy to bounce ideas off of, he's been an O'Niell/IBD guy since Noah was in diapers.
Have you done many https://www.dogpile.com searches using O'Niell along with other words like investing, trading, sector, setups, entries, exits, ... you know, like that kind of stuff. It can add a lot to the book stuff.
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THAT was the original system.
CAN SLIM+ charts always had a max stop loss of 7-8%; the EPS + such fundamentals were just a wise screen.
Dont worry if some of its unclear\ i never really spotted a cup with handle , all these years/
except in his book LOL Back to the charts +200day moving average.....................
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Good points.
CAN SLIM is still great \i use it for ETFs. IBD founder, back when he was still running the Company said ''i dont know why people use ETFs/ i can make more money with stocks''
i DO I CAN AVERAGE LESS LOSSES WITH etfs, SO MOST LIKELY MAKE MORE oVer TIME.
FOR sure its a thrill + good money when you catch a hot stock trend or inverse bear ETF.........................................................................................................................
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Mostly true\even though those 3x bullish = 3x bearish can + have gapped up + down huge. Monthly moves 50% month / peak to valley/SPXS
Other thing to keep in mind it is not the just the lows of the "base" that defines it, it is mostly, imo, the peaks that define the bases. I.e. you can find a lot of patterns that look identical to the basing bars but are not as significant because the peaks are not as well defined. This should help eliminate a lot of noise in your scans.