Thanks. Don't do much on twitter etc. Prefer to find my own picks, then I have no one to blame but myself.
Trade Like O'Neil Disciple / Virtue of Selfish Investing
- Thread starter brfish
- Start date
@NextBigTrade is worth a follow.
The only one I was following with MonsterStocks.
But I am not on Twitter anymore.
Social Networks are a waste of time.
Studying past trades and leaders,
Doing some analysis is more rewarding.
Process leads to success,
Not browsing the web.
%%
Good helpful reads;
but i don't subscibe to to mr Morales ,Dr Christian Karcher service . But I bought thier Short Selling Book new / so they get a royalty.
I got more out of their books [all 3 of them, +multiple more books ]than any TECL signal as that link mentions.
ANOTHER ONE of thier books on single stocks was fairly negative on short selling + they did no ETFs. But IBD founder was old school, he put much more in his books than his website;
with best bang for bucks.
I clipped some of his swing trade articles from his newspaper but never paid for his premium services.
He would never have put up an option chart or gold ETF chart to trade or invest.......................................
Dr Chris Katchers Market timing service has been Short the Nasdaq since May.You can tell when they're going to shout for a follow through day,
Most of the time it's just the break of a resistance,
When it happens on higher volume. FTD !!!
There is nothing predictive about it.
But the fact that all bull market start with a FTD.
We have witnessed plenty of them fail in this bear market.
Not even sure they caught the top ...
In my opinion they ain't market wizards.
They might actually be the worst O'Neil disciple.
Had fun with them on twitter,
Got blocked. Nothing to see here.
Even a pleb like me coulda done better than that.
His performance results could be highly manipulated to hindsights. Only live calls and tracking would solve that, but you do not know this when you are at this website. And any backtest results over 2 decades means nothing as it can be only optimized on past data (as data snooping bias). I would trust him more if there are forums or third party reviews of his trades with performance results shown based on his trades from third parties. Otherwise it only likes like a snake oil seller and nothing else. Anyone who is that good does not need to sell anything, just compound on his own gains and get incredible rich. There is no reason to do the whole marketing thing to sell something with good performance if you can do more than just trading it. And last, why does he have no hedge fund or CTA service to trade with more money then ??? That would make more sense to scale on his profits than selling his signals or anylike that. Does not make sense at all.
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You hang out on ET but eschew fintwit?
There are most certainly some worthy follows on twitter, and not for their picks so much as what they share about their process. However, you will find that as an O'Neil-type trader, your picks will often match those of the many other Darvas/O'Neil types on twitter. That is not a bad thing, in my opinion.
The "Follow through day" is a valuable concept when applied as O'Neil described in his book, at least the early editions (I cannot vouch for the later editions but I doubt he would have made any substantive change to his original characterization of FTD's). I was a long-time subscriber to the paper when it was a paper. Sometime after O'Neil stepped down from the day-to-day operations of the paper, IBD became lax as to what they would qualify (as opposed to quantify) as a follow through day. It became apparent that when the market outlook box on the front page read "Market in Confirmed Uptrend" sold far more papers and thus far more advertising revenue than when the Big Picture read "Market in Correction." I no longer subscribe, but I presume that the now digital paper is still more prone to calling out follow through days that it weas back when O'Neil was running the front page himself.
You really picked three good ones there. I'd add Gerald Loeb's The Battle for Investment Survival. Loeb was Darvas's O'Neil, Weinstein, and Darvas.
The one concept that I personally took away from Trading with the O'Neil Disciples first book is that of the pocket pivot. This is simply spotting price and volume tracks of institutional buying within a base, allowing an O'Neil or Darvas-like trader a more favorable entry into a stock than waiting for the next base breakout to an all-time high. It is sort of like spotting a follow through day for an individual stock while inside a base.
We all, from little guys to giants, build on the work of those who came before. Without Livermore and Wyckoff there'd may have been no Loeb. Without Loeb, Darvas may not have had the courage to start buying breakouts to all-time highs. O'Neil's CANSLIM is clearly an expansion of Darvas's "Techno-Fundamentalist" theory. Weinstein, Minervini, The O'Neil Disciples, all have valuable teachings to share, and all are branches of the tree rooted by Livermore and Wyckoff.
In my opinion, if one wants to become a profitable stock market operator, one could do so simply following Darvas alone. However, if my own child were to come to me and ask what he should study to become successful, I'd give him Darvas's How I Made $2,000,000 in the Stock Market, Loeb's The Battle for Investment Survival, O'Neil's How to Make Money in Stocks, Lefevre's Reminiscences of a Stock Operator, and Richard Wyckoff's Stock Market Technique Number One.
I'd tell him to get a job, save up $5000, and open a margin account with TDA or E*Trade, and not read anything about the stock market except to read and re-read those five books until he doubled his $5000 through stock trades alone. Then I'd tell him to start adding 10% of his wages to his investment account and make it his goal to double that $10,000. And once he was at $20,000, to make it his goal to double that $20,000. And that he should keep doing that for the rest of his life.
I find ET much easier to navigate.
Much easier to figure out who is who.
You can ignore annoying posters.
Great post Rams Fan. Thanks.
Darvos used a horizontal consolidation, a Study found it to be the most reliable.
Minervini uses an ascending triangle consolidation same Study found it to be next reliable.
O'Neil used a cup n handle, basically a horizontal consolidation in the end.
All prefer rising trends then consolidation and breakout.
Minervini uses an ascending triangle consolidation same Study found it to be next reliable.
O'Neil used a cup n handle, basically a horizontal consolidation in the end.
All prefer rising trends then consolidation and breakout.
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I was reading in the preface of the Disciples book Short Selling with the O'Neil Disciples, that Chris Katcher was the ghost writer of How to make money selling Stocks short by William O'Neil.
The fact it is in print and hasn't been retracted makes me believe it.
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