As some of you may remember from back in early December, this is not my first idea for $FI. At the time, I hyped it up as a top performer for me, only to make a measly 0.27% on the trade in one day (which is still about 6x the avg daily return of the market). I was disappointed in the return, but VERY happy the next day when the CEO left and it dropped 6% (yellow oval on the chart). FPC saved my butt on that one, and I promise never to bad mouth a gain on FI again. I actually traded it again the day of the announcement and made 1.6% in a day that time.
My case then, as it is now, is that FI has been a stellar performer for how I trade. It is top 3% of all large caps I trade and has returned about 5x the daily return of SPY over the course of now 950 trades. Its record in those trades is 950-0-1 with the one being yesterday - a signal from my algo I did not trade because it hit within 1 min of the close when the stock dropped almost .25% in a minute. Sometimes luck favors you, as it opened higher today but fell back to me late in the day so I got it even cheaper today. The average return on trades in FI is +1.89% and the average holding period is 9 trading days, but the majority of trades have closed in 1 trading day.
In addition to its historical performance, it is at about the midpoint of its 6 month range, still in a strong multi-year uptrend despite the recent correction, and has support in the vicinity from the January low and from the medium term trend line. All reasons for me to take this trade, even during a correction.
So I'm in with an initial lot at 211.19. SInce I got a bunch of new followers today, I'm gonna briefly explain how I do this. I will tactically dollar cost average (equal dollar amounts) on any day FI is still rated by my algorithm as a buy. I sell any lot on the first day it is profitable at the close. Once all lots are closed, the trade is finished. I will update all trades I make here on the same day I make them (or at least almost always the same day - I'm not perfect).
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.
My case then, as it is now, is that FI has been a stellar performer for how I trade. It is top 3% of all large caps I trade and has returned about 5x the daily return of SPY over the course of now 950 trades. Its record in those trades is 950-0-1 with the one being yesterday - a signal from my algo I did not trade because it hit within 1 min of the close when the stock dropped almost .25% in a minute. Sometimes luck favors you, as it opened higher today but fell back to me late in the day so I got it even cheaper today. The average return on trades in FI is +1.89% and the average holding period is 9 trading days, but the majority of trades have closed in 1 trading day.
In addition to its historical performance, it is at about the midpoint of its 6 month range, still in a strong multi-year uptrend despite the recent correction, and has support in the vicinity from the January low and from the medium term trend line. All reasons for me to take this trade, even during a correction.
So I'm in with an initial lot at 211.19. SInce I got a bunch of new followers today, I'm gonna briefly explain how I do this. I will tactically dollar cost average (equal dollar amounts) on any day FI is still rated by my algorithm as a buy. I sell any lot on the first day it is profitable at the close. Once all lots are closed, the trade is finished. I will update all trades I make here on the same day I make them (or at least almost always the same day - I'm not perfect).
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.
Note
Added another lot right before the close today at 209.22.Lots held:
Lot 1 - 211.33
Lot 2 - 209.22
Trade closed: target reached
Sold both lots of FI 1 minute before the close for 214.73. As matthias and I were discussing the other day, more people should know about this stock. Just go to a 12M chart and look at what this stock has done. You're gonna wish you were in it 20 years ago when you do.Lot 1 - 211.33 --> 214.73 = +1.61% in 2 trading days
Lot 2 - 209.22 --> 214.73 = +2.63% in 1 trading day
Note
Trade summary for my recordsAvg gain per lot = +2.12%
Avg holding period = 1.5 days
Avg gain per lot per day held = 1.41%
Annualized Rate of Return = 1.41% x 252 trading days = +356%
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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.