I looked at all new highs from Monday and sorted them in TC2000 by how much they are up from a year ago. $CVNA caught my eye. It retested its GLB and is now trading 3.2 times its price of a year ago. Note the green dot signal after the retest. Nicolas Darvas pointed out that stocks that have doubled are likely to double again. Below is daily chart.
The monthly chart shows that CVNA is almost a 10 bagger since its IPO in 2017. Note its first GLB in early 2018.
I have restarted the GLB table, check it out on this blog daily.
During the internet bull market of the 90s I sold Yahoo around $400 per share (pre -split) because my internal voice said making money was too easy. I had seen the stock go up $50 in one week when I was holding a large position. I tell my students that whenever my voice cautions me that way, I sell. (It rarely happens!) It happened a few days ago, however, when I had a small position in INMD. I watched it rising fast and then on Monday morning, 11/18, INMD was trading up almost $9 from Friday’s close. It was also trading outside of its upper daily 15.2 Bollinger Band on very heavy volume and had gone vertical. My voice went off and I sold around $57. I had a 40%+ gain in just 9 days. I was lucky. INMD closed Friday at $41.55. When I make money too fast, I sell. As they say,: Bulls make money, Bears make money and Pigs get slaughtered. (Wy did I buy this stock? The consummate trader, Mark Minervini, @Marmminervini, had tweeted about INMD.The stock was a strong recent IPO and at all-time highs. I merely bought some on November 6, with the intention to sell it if it traded lower than the prior day’s low. I get great trade-able ideas by following the tweets of a couple of very smart traders: @markminervini and @TMLTrader, whom I met at Mark’s annual invaluable trader workshop.
The GMI is at 4 (of 6) and many of the very short term indicators in the GMI2 are negative. This is a reduced trading week and probably not the time for me to add or increase positions.