11 Comments

Excellent writeup. Thank you.

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Thanks Jeff!

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Richard always has great content.

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Thanks David!!

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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

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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.

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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.

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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

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Is there a way for screening for GLB on TC2K?

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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.

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Hi Richard , thanks. Do you have a scanner to find these setups?

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