Buy rules on ready list
Hi Marty,
I'm a new subscriber, so sorry if this has already been addressed.
Thank you for subscribing to this service!🙏 I hope you find it adds value to your trading.
With regards to your ready list and buy price points, are you looking at intraday/pre-after market prices or closing prices to initiate a position?
I believe it is best to buy when a stock is at a pivot point no matter the time of the market. if Palantir is trading at $20.00 and the buy point is $20.24 that is good enough for me to enter the stock not matter the time.
Given how correlated stocks usually are, say the market is moving lower, but an individual name has moved up to your buy point, do you wait to place your trade?
I like to buy the stock at the pivot point. But, if the market is in a downturn I may buy a smaller position. If it is in an uptrend (like now) I will be more aggressive with a larger position.
If you have any other personal buy rules, can you please share?
I like to buy liquid  stocks near their pivot point. It does not need to be to the exact penny though.
Also, if you initiate shorts from time to time, what are your short criteria? ie (% above 10dma, % above 21dma, etc, downtrending market). YES!  It must be a downtrending market. I like to short weak stocks as they are rejected at moving averages. It is just the opposite of buying. stock as it pulls back to moving average.
Thanks for your time in advance!
Thank you once again for joining the service!
Marty
David