thewizard

Avid reader, Mech. engineer, Spiritual, trader/speculator. Follow for upcoming weekly trade alerts for swing and position trading.

[thewizard @thewizard_ravi]

@monsterstocks1 Another way of looking at it, in pic. I do look at moving avgs but, seldom trade based on them unless they correspond to something in my methods.

[thewizard @thewizard_ravi]

@traderfon @markminervini I recommend Finviz for visual scan, the ultimate free screener and Tradingview is good for charting as you said. And finding patterns yourself, that's exactly you want to do, it keeps your skills current and your watchlist small. Unless you are trading large account, no need ofMS

[thewizard @thewizard_ravi]

@traderfon @markminervini I am not Mark, but, IBD digital subscription is pretty good for someone who is not very familiar with market and it's ways. And if you know your chart patterns, Market smith will add nothing to that. I have used these myself. Hope you'll find it useful.

[thewizard @thewizard_ravi]

@monsterstocks1 William O' Neils classic "How to make money in stocks" provides enough insight into his methods, if one can re-read it several times, and then spend time with charts daily, watching them move, and above all place trades with enough money to make you uncomfortable, you can learn.

[thewizard @thewizard_ravi]

@markminervini “The average man doesn’t wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn’t even wish to have to think.”
J. Livermore

[Mark Minervini @markminervini]

Some interesting (and disturbing) facts reported by Grant's Interest Rate Observer @GrantsPub
Cathie Wood’s Ark Investment Management has earned more than $300 million in fees on its flagship exchange traded fund [ticker: ARKK] since its inception nine years ago, while wiping out almost $10 billion of investors’ cash in the same period.
Ark has earned more than 70% of its $310 million fees since the fund’s valuation plummeted by nearly three quarters from its high in February 2021, according to FactSet data.
They call this 👇 a "managed" ETF.
Zero respect for risk!

[Mark Minervini @markminervini]

Many ask me if this bear market is more difficult or somehow different in some way to the bear markets I have lived through and traded during my 40-year career. The answer is absolutely not! This bear market is very typical and a necessary part of the boom bust cycle. And I can assure you that a bull market filled with wonderful opportunities in individual stocks will emerge from its ashes.

[thewizard @thewizard_ravi]

@TmarketL you mean rising wedge, take a look at TRGP.

[thewizard @thewizard_ravi]

@jordanfogel imagine if you started by losing 1 Million.

[thewizard @thewizard_ravi]

@WifeyAlpha MCd you better correct it, bros, you are not addressing 101 other genders.

[thewizard @thewizard_ravi]

@monsterstocks1 speaking of market health, I think it is pretty sick.

[thewizard @thewizard_ravi]

"The speculator can choose to only bet when the odds are in his favour. That is important positional advantage."
--Larry Hite

[thewizard @thewizard_ravi]

One of the key takeaway from the market wizards,
"You must believe in yourself, you must act independent of the crowd, if you are to succeed at this game."

[John Boik @monsterstocks1]

My favorite Foreword of any market book. From Wyckoff ‘Wall Street Ventures and Adventures…’ 1930

[thewizard @thewizard_ravi]

@monsterstocks1 This is a typical picture of a rising stock, uptrend, moving avgs in uptrend, base count, volume characteristics. If you were able to get in around second base start looking for 18month line and fourth stage base and sell most of your position already.

[thewizard @thewizard_ravi]

@Kolya1940 @monsterstocks1 There are over 100 examples, in 'How to make money in stocks' 4th ed. in case you haven't already read.

[thewizard @thewizard_ravi]

@priceinaction very nicely rephrased
“However many holy words you read, however many you speak, what good will they do you if you do not act on upon them?”
― Buddha

[thewizard @thewizard_ravi]

@monsterstocks1 every time I re-read 'How to make money in stocks' I am surprised by his intelligence and thoroughness of his homework.

[John Boik @monsterstocks1]

Best ever? Definitely in the discussion.

[thewizard @thewizard_ravi]

Want to improve your trading game, try something as simple as "Buy rising stocks, sell falling stocks". It took me a long time to practically understand this.