I would like to buy Netflix Inc, Shopify Inc, Square, Apple Inc and Amazon.com Inc, however, I hate chasing performance.
I don’t mind a momentum play when there is nearby support but to chase performance with no real close visible support is difficult and dangerous. The flip side is price may never come back in to current support levels to get long.
Check out the charts…
Netflix Inc (NFLX) daily
Shopify Inc (SHOP) daily
Square (SQ) daily
Apple Inc (AAPL) daily
Amazon.com Inc (AMZN) daily
You can see they all broke out after clearing resistance which is now support. There were obvious buy signals with each of these names. They are now way above support and still ripping higher.
You are probably asking why I didn’t recommend them recently. I’m asking myself the same question.
The honest answer is that I missed them due to fear, wanting a better price, fear and wanting a better price.
I’m sorry, I’m still human. Most of the time I’m pretty immune to the “fear” part because I know my methodology works, however, it’s hard to totally shake off the fear of losing. That’s why I have my rules…because I’m human. And because I’m human I sometimes break my own rules.
Note to self…just follow your rules because you have proven that they work well. Don’t be a human.
OK…duly noted. I hate losing money. It’s hard not to be a human.
I have been at this game for about 35 years. I have learned so much mostly because I love the challenge. I have also learned that I need to keep learning. It’s a never ending story.
For now, I’m going to wait for a pullback in these names and try to be patient. This is difficult too.
I may change my mind. I’m not sure.
Continue to hold all open recommendations. They mostly look like NFLX, SHOP, SQ, AAPL and AMZN; just ripping higher.
It’s hard to catch all the shooting stars. But we’re still trying.
Trade Smart,
Don