Trading in November and Big $ in Legal Drugs.
Wow. It was a great week of November trading. November is one of the best trading months of the year and this year has been more reflective of the norm.
This was after ROKU flew 35% from the first explosive bottoming entry point the prior Monday. So it took the stock just 5 trading days to surge 35% from the technical entry point. This is usually where the biggest winners top out within the first wave higher.
This year we saw CGC early in the year top out around 40% within the first wave higher.
Ironically, CGC broke out of another explosive bottoming pattern last week. However, this time it was well below a declining 200 day moving average. It went about 15% before pulling back sharply.
This sharp pullback is pretty typical for stocks when they are trying to break a long-term downtrend so we usually avoid them if they are below a declining 200 ma. They also tend to have a lower win rate.
The Most Bullish Pattern Often Found in November
We traded MDCO for around a 25% profit within 24 hours last week. Those with the high tight flag course were able to find this ahead of the technical entry point where we jumped in.
MDCO is another great example of multiple bullish chart patterns on the same stock. This time it was a real nice double bottom within the flag portion of a high tight flag. Similar to what ROKU did early in the year when it was discussed in the Daily Alert just before the breakout.
Like ROKU, MDCO had good volume when it reached the technical entry point. Only about 1 in 5 on our alert watch list will have the strong volume when they reach our target entry point.
Here’s a video review of MDCO and others along with another big winner we nabbed on PAYC before an 18% move in one of the best long-term trends in the market.
We wanted to mention also that we just updated our course videos on the video training site!
The videos now have higher quality video and audio on multiple devices.
Also, we are keeping the special on all 3 courses through cyber Monday so you can take advantage of the most bullish chart patterns we trade like the ones that came up on TGT, ROKU and MDCO over the past couple weeks.
It takes some patience to wait for an ideal trading opportunity but it can be well worth it in a bull market.