If you've been following me for any length of time, you know what a trader-crush I have on TSCO. The success I've had with it over time has been about as good as any stock I trade.
This is a sad chart, when you look at it. There's really nothing here that screams buy right now. But the chart doesn't tell the whole story. While I'm not using my typical algo for this trade, I still have data on my side, and for me, that is what matters.
This situation has occurred 210 times in the history of TSCO and has paid off every single time. The results are even better, historically, than with the algo I usually use. The average gain is 2.14% in an average of 6.2 days. That's .34% per day held, or 86% annualized, and nearly 8x the average daily return of the market. But that's not the best part. Almost 80% of trades closed in 1 week or less, 92% in 3 weeks or less, and over 50% closed in one day.
I entered long at today's closing price of 49.67. The entry situation doesn't usually stick around for multiple days, but should it do so, I'll add to the position. While in this case, I usually close the trade on the close of the first bar the trade becomes profitable, if the gain is less than 0.1%, I will extend the trade.
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.
This is a sad chart, when you look at it. There's really nothing here that screams buy right now. But the chart doesn't tell the whole story. While I'm not using my typical algo for this trade, I still have data on my side, and for me, that is what matters.
This situation has occurred 210 times in the history of TSCO and has paid off every single time. The results are even better, historically, than with the algo I usually use. The average gain is 2.14% in an average of 6.2 days. That's .34% per day held, or 86% annualized, and nearly 8x the average daily return of the market. But that's not the best part. Almost 80% of trades closed in 1 week or less, 92% in 3 weeks or less, and over 50% closed in one day.
I entered long at today's closing price of 49.67. The entry situation doesn't usually stick around for multiple days, but should it do so, I'll add to the position. While in this case, I usually close the trade on the close of the first bar the trade becomes profitable, if the gain is less than 0.1%, I will extend the trade.
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.
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.
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.