TSLA is on the list. Expecting a pullback early next year to $220-$230 range. Target from there is $315-$340

Running list

OXY - Energy - O&G
SMCI - Tech - Hardware
AMD - Tech - Semiconductor
CRM - Tech - Software
CXM - Tech - Software
TLT - 20+ Year Treasury ETF
NOV - Energy - Equipment and Technology
TSLA - Consumer Discretionary - EV

Pull up the LUV chart on intraday candles. Look at the beautiful bull flag it's formed. I'm thinking $30 January calls with gap fill targets at ~$35 and ~$37. If Theta decay scares you then grab Feb.

joekm3 said:

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Most of my account is under management. I used $20k in a Fidelity account to learn the trade the past 6 months. I had mixed results, but the main thing I learned was that I was too impatient or at least not diligent enough to get back in at an upturn. I missed major gains by setting my loss limits at 4% loss. For example, I was in CRWD at about $160 over the summer. I stopped out and then missed the upturn. CRWD is now at $257. I plan to be more diligent this year and am following your 24 in 24. I plan to up my account to $50k. Again, this is my training. Any advice you have would be greatly appreciated. I tried OA1's service but am not ready to commit to most of the day playing the swings.

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Don't EVER let yourself get FOMO after being stopped out. Stops are your way of managing your own risk. For as many that ran after a stop, there were likely others you would have been caught with your pants down had you not had them like so many traders in 2022.

I would recommend researching trailing stops. Paper trade with them until you get a feel. It's a way to manage risk without having to check in constantly.

But the real critical education comes with knowing support and resistance levels. It takes time in the market to get a real feel.

I personally don't like heavy risk when buying shares. I like setups where the reward is 30%+ with the risk at 10% or less. And I really prefer 5% risk, but it's much harder to tick levels off lows that give such low risk. So sometimes you have to let a stock build up off a low and show signs of a breakout.

Pull up the LUV chart on hourly candles. The low from today breaking is my get out zone. I don't care what happens after that, doesn't matter. The triangle bull flag setup breaks and in my mind, upside becomes lower probability. So if I'm buying shares, I buy at the open with stop set at $28.85. That's extremely low risk. But my targets are $35-$37. That's high reward compared to the risk. I'm thinking about doing options, but someone just learning might just play it with shares. And if the market opens below that stop level, you don't buy. Simple as that. Live to fight another day. There will ALWAYS be more plays.

Lastly, this is important. Not every stock is a play. When I find a setup I like, I always zoom out to longer timeframes to see what the longer term trend is. That will kill off some ideas as the longer term chart might be in a downtrend, so even short term bullishness could reverse quickly and blow up. I do look at fundamentals (though they are the least important outside of earnings plays). If markets only moved on fundamentals most stocks would go sideways between financial disclosure events. But the vast majority of stocks, even ones that end up being wildly successful, don't fit what I'm looking for. Or the risk is just too high for the level of reward.

Check out SBOW. First look at 5 min candles. That looks like a nice stup that could burst higher. But let's zoom out to daily candles. Yikes. The threat of the downtrend re-engaging is not fun for risk management. So I create an alert to go off if it makes a new low and I ignore it until then. Maybe I miss a bull run. But I'm saving my money for plays that have higher probability setups.

Thanks for popping over. Miss you around these parts but hope you're doing well!

Schwab had a message saying they're having technical issues.

joekm3 said:

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Most of my account is under management. I used $20k in a Fidelity account to learn the trade the past 6 months. I had mixed results, but the main thing I learned was that I was too impatient or at least not diligent enough to get back in at an upturn. I missed major gains by setting my loss limits at 4% loss. For example, I was in CRWD at about $160 over the summer. I stopped out and then missed the upturn. CRWD is now at $257. I plan to be more diligent this year and am following your 24 in 24. I plan to up my account to $50k. Again, this is my training. Any advice you have would be greatly appreciated. I tried OA1's service but am not ready to commit to most of the day playing the swings.

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Don't forget you can use STOP orders for Buys as well. If you place a Trailing Stop at 5% below and you sell out, place a trailing buy at 2-3% above and get the upside swing.

The hardest part about trying to form a list of stocks that will do well in 2024 is that almost nothing is at a place where I'm comfortable entering with limited risk.