So it's the all time high or the most recent high? I'm confused about that. o you wait for Goog to go back to $151 and AMZN to go back to $188, or do you use the most recent highs of $144?
Interesting as I've never heard of it before. I will try to apply it on few stocks I've and will post it how it goes so that everyone gets the benefit.
I know you don’t subscribe to it, but as far as Darvas basing buy decisions on historical highs (same as Dr. Wish’s GLB), I apparently don’t have the patience, and don’t see the point.
Overhead supply should not be a factor years after the ATH. Maybe a few isolated individuals would hold onto a beaten down position for an extensive period, only to sell when it reaches break-even, but institutions? If they’re planning to stay in business or be profitable, I think not.
Anyway, I do have a question regarding not strictly Green Line Breakouts, but breakouts in general.
Concerning the “above average” volume, what period should be used? TC2000 has a “Volume Buzz” function based on a 100bar MA, but that seems excessively long considering how volatile things can be short-term. The platform I use for trades (Fidelity ActiveTraderPro) has columns for 10-day and 90-day averages, and they can differ by wide margins.
Hey Ron. I also think that price action over 2 years ago is far less relevant.
With regards to above average. Volume buzz works well as an indicator. 20 day/50 day lookback should be enough to see if a stock is moving on extraordinary volume
Hi Richard - The Green Line Breakout strategy is very interesting. Thank you for explaining it so carefully and effectively. I noticed that when I got lucky with TLSA it was smack in the middle of an effective GLB breakout, per your chart.
Honestly, I'm not sure why this seems to resonate with me but I think it's because it seems to offer a helpful way to employ a further top down stock screening process. I use Weinstein stage analysis on the weekly chart primarily.
I may be able to use GLB on the monthly chart first and then when I find an effective GLB I can drop down to the weekly and use Weinstein as per usual. I could be flat wrong but it seems like this approach might be helpful. Regardless, thanks for the great explainer.
Excellent writeup. Thank you.
Thanks Jeff!
Richard always has great content.
Thanks David!!
So it's the all time high or the most recent high? I'm confused about that. o you wait for Goog to go back to $151 and AMZN to go back to $188, or do you use the most recent highs of $144?
Thanks Richard
Interesting as I've never heard of it before. I will try to apply it on few stocks I've and will post it how it goes so that everyone gets the benefit.
Thanks Richard.
I know you don’t subscribe to it, but as far as Darvas basing buy decisions on historical highs (same as Dr. Wish’s GLB), I apparently don’t have the patience, and don’t see the point.
Overhead supply should not be a factor years after the ATH. Maybe a few isolated individuals would hold onto a beaten down position for an extensive period, only to sell when it reaches break-even, but institutions? If they’re planning to stay in business or be profitable, I think not.
Anyway, I do have a question regarding not strictly Green Line Breakouts, but breakouts in general.
Concerning the “above average” volume, what period should be used? TC2000 has a “Volume Buzz” function based on a 100bar MA, but that seems excessively long considering how volatile things can be short-term. The platform I use for trades (Fidelity ActiveTraderPro) has columns for 10-day and 90-day averages, and they can differ by wide margins.
Thanks for any (more) insight.
Hey Ron. I also think that price action over 2 years ago is far less relevant.
With regards to above average. Volume buzz works well as an indicator. 20 day/50 day lookback should be enough to see if a stock is moving on extraordinary volume
Is there a way for screening for GLB on TC2K?
Hi Richard - The Green Line Breakout strategy is very interesting. Thank you for explaining it so carefully and effectively. I noticed that when I got lucky with TLSA it was smack in the middle of an effective GLB breakout, per your chart.
Honestly, I'm not sure why this seems to resonate with me but I think it's because it seems to offer a helpful way to employ a further top down stock screening process. I use Weinstein stage analysis on the weekly chart primarily.
I may be able to use GLB on the monthly chart first and then when I find an effective GLB I can drop down to the weekly and use Weinstein as per usual. I could be flat wrong but it seems like this approach might be helpful. Regardless, thanks for the great explainer.
Hi Richard , thanks. Do you have a scanner to find these setups?