ABT got some bad news today when a Missouri judge ruled there would be a retrlal regarding a court case involving ABT's baby formula, and the stock, which was already down 3 days in a row, got thumped. While I don't dismiss long term risk from that news, I'm not in this for the long haul. I will likely be long gone before anything happens with that retrial.
What matters to me is this:
-ABT is one of the top 3% stocks for my system, historically. That rating is based on trade performance, the length of its trading history, and several other factors related to safety and trade performance that I use.
-It is down 4 out of 5 days, and that in itself has some historical precedent as a long trade setup for short-term trades, though I must admit - it hasn't worked all that well for me lately.
-it's in the middle of its 6M high/low range. Not ideal, but not bad either.
-it is still solidly in an uptrend going back to 2024.
-I'm not convinced the market jitters are over and it ideally is less risky than some more typically volatile stocks.
-historical performance (combined actual and backtested) for ABT with my trading system:
1819-0 W/L prior to today
+2.08% average gain per lot traded
18 trading day average hold per lot
Avg. return = .116%/day (2.7x better per day returns than the stock market, historically)
So for all those reasons, I went long before the close at 126.75. Per my usual strategy, I'll add to my position at the close on any day it still rates as a “buy” and I will use FPC (first profitable close) to exit any lot on the day it closes at any profit.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
What matters to me is this:
-ABT is one of the top 3% stocks for my system, historically. That rating is based on trade performance, the length of its trading history, and several other factors related to safety and trade performance that I use.
-It is down 4 out of 5 days, and that in itself has some historical precedent as a long trade setup for short-term trades, though I must admit - it hasn't worked all that well for me lately.
-it's in the middle of its 6M high/low range. Not ideal, but not bad either.
-it is still solidly in an uptrend going back to 2024.
-I'm not convinced the market jitters are over and it ideally is less risky than some more typically volatile stocks.
-historical performance (combined actual and backtested) for ABT with my trading system:
1819-0 W/L prior to today
+2.08% average gain per lot traded
18 trading day average hold per lot
Avg. return = .116%/day (2.7x better per day returns than the stock market, historically)
So for all those reasons, I went long before the close at 126.75. Per my usual strategy, I'll add to my position at the close on any day it still rates as a “buy” and I will use FPC (first profitable close) to exit any lot on the day it closes at any profit.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
Trade closed: target reached
Position closed at 127.65 for a +0.71% gain in one trading day.Note
Trade result for my recordsWins 1
Losses 0
Avg gain per lot = +0.71%
Avg hold period = 1 day
Gain per lot per day = +0.71%
Annualized RoR = .71% x 252 = +179%
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.