Long BROS @39.47 (oversold)
Updated
Just went long bc I missed it at the close yesterday. Oversold and will hold each lot until overbought and profitable, adding lots as long as it's oversold.
Record over the last 12 months for indicator and exit strategy on BROS:
40-0
Avg gain = 5.8%
Median gain = 4.2%
Range = +0.1% to 18.2%
Cumulative 12M gain on equal dollar amount trades: 232%
A weird one to trade. 12 of the wins gained less than 1% and 11 were over 10%. Last 7 trades were all +10% or more. This one can have very long losing streaks, though. Held as many as 17 lots at once before closing bc of a long downtrend. It's a great reminder to use position sizes that keep you from running out of capital before the stock runs out of downward momentum.
This one gives trading opportunities really often, too. 40 in 12 months is a LOT, though that's partly bc of two really long losing streaks. Will update any adds or closing of positions.
Record over the last 12 months for indicator and exit strategy on BROS:
40-0
Avg gain = 5.8%
Median gain = 4.2%
Range = +0.1% to 18.2%
Cumulative 12M gain on equal dollar amount trades: 232%
A weird one to trade. 12 of the wins gained less than 1% and 11 were over 10%. Last 7 trades were all +10% or more. This one can have very long losing streaks, though. Held as many as 17 lots at once before closing bc of a long downtrend. It's a great reminder to use position sizes that keep you from running out of capital before the stock runs out of downward momentum.
This one gives trading opportunities really often, too. 40 in 12 months is a LOT, though that's partly bc of two really long losing streaks. Will update any adds or closing of positions.
Note
Forgot to update this yesterday. Was oversold again at the close so I added a lot at 38.66Note
Added 1 lot at the close @36.96Note
Added 1 lot at the close (oversold) @ 36.13Note
Added another lot at the close at 30.21 because it's back in oversold territory.Note
Still oversold. Added again at 29.49 at the close.Note
Added another lot at 29.10 at the close - still oversold.Note
Sold the 3 most recent lots at the close, since BROS is now overbought short-term.
Closing price was 32.64 for gains of 8.0%, 10.7% and 12.2%, respectively.
Trade active
Added another lot at 30.3154 at the close - oversold again.Trade active
Hit short term overbought today so I closed the most recent Aug 29 lot at 32.35 before the close. 6.7% gain in 6 trading days. Trade active
BROS hit oversold just before the market closed so I couldn't get an order in before the close with all the other things I was closing or opening. Had to reach just a little to get one lot at 34.01 after hours (.05 above the close). Still holding 5 lots at the following prices:
39.47 38.66 36.96 36.13 34.01
Trade active
Still oversold so another lot was added at the close at 32.70
Lots held:
39.47 38.66 36.96 36.13 34.01 32.70
Trade active
Forgot to update this on Friday. Added another lot at the close at 32.46 - still oversold.
Lots held:
39.47 38.66 36.96 36.13 34.01 32.70 32.46
Trade active
Added another lot at the close at 32.03
Lots held:
39.47 38.66 36.96 36.13 34.01 32.70 32.46 32.03
Note
Sold the 4 most recent lots (lots 5-8) at 34.24 today because it's short-term overbought now.
The gains on those lots were:
Lot 5: +0.7%
Lot 6: +4.7%
Lot 7: +5.5%
Lot 8: +6.9%
Still holding lots priced at 39.47, 38.66, 36.96, 36.13
Trade active
Added 1 lot at the close at 33.07 - oversold again.
Holding lots priced at 39.47, 38.66, 36.96, 36.13, 33.07
Note
11/6/24 - 3:40 EST -- Just for the record, so nobody accuses me of shenanigans if the stock tanks after hours after it posts earnings, I will be selling my most recent lot at the close assuming it holds these levels - it's overbought and profitable. I'll update price and gains when I do. Fingers crossed that the earnings are good and the rest of the remaining lots pop after hours. If they do and other lots become profitable, I'll sell them then. Stay tuned if you're following this idea.Note
Sold the most recent lot a couple of minutes before the close at 35.12
+6.2% gain in 5 trading days. It was overbought.
Still holding the following lots: 39.47, 38.66, 36.96, 36.13
If earnings are good, I decided to wait until tomorrow to sell and not do it after hours.
Trade closed: target reached
OK I changed my mind. Up 17+% after hours was too much to pass up - I'm out of my entire position at 41.04. The gains per remaining lots are as follows:
+4.0% in 82 trading days
+6.2% in 77 trading days
+11.0% in 73 trading days
+13.6% in 65 trading days
I'll post a summary of the entire series of trades momentarily.
Note
Trade summary for my records
Wins - 13 Losses - 0
Avg. gain per lot traded = +7.4%
Avg. holding period per lot = 28.5 days
Avg. gain per lot per day held = +.26%
Annualized return per lot = .26% x 252 trading days = 65.5%
What was an excruciating wait on this turned out to be a VERY good series of trades thanks to the earnings beat today. This trading system is now 53-0 on
BROS in the last 16 months. Its average gain is 6.4% per lot traded over those 53 trades. I'll be back for another sip at the cup of BROS soon.
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