Dr. Wish

Blog Post: Day 49 of $QQQ short term up-trend; 6 of 24 growth stocks came up in the black dot set-up discussed yesterday and were in residential construction: $DHI, $KBH, $LEN, $PHM, $MHO, $CCS, see list of all 24 growth stocks that had this set-up

@ 11:04 pm
GMI6/6
GMI-25/9
T210865%

The fact that so many stocks in the same industry had oversold bounces (OSB) after a recent yearly high suggests to me big buying interest. LEN is one typical example. Note the recent climb above its green line top (GLB). The 24 growth stocks that had this black dot set-up on Monday are listed below.

 

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

@ 8:29 pm
GMI5/6
GMI-25/9
T210862%

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.