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5th Feb '19 by Jack Corsellis

72 comments 6174 reads

Hi Guys,

I've been a Stocko sub for over 3 years now and trade for a living. Stocko has been a significant part to my success and I use it as my starting place for due diligence.

I decided to start a free website to help others via stock alerts, showing my watch-list and other market content - such as annotated graphs and market commentary. www.jackcorsellis.com

I mainly focus on breakout trading using principles from Mark Minervini and stocks under accumulation (Wyckoff Method).

It is more focused for 'swing traders' looking for ideas now as opposed to deep fundamental analysis on individual companies like Paul and Graham do in their small-cap reports.

Best,
Jack

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About the Author

Jack Corsellis

Premium Member

https://www.youtube.com/jackcorsellis https://www.jackcorsellis.com

72 comments

Jack Corsellis

14th Feb '19

Thanks heregoes18, much appreciated. Watkin Jones (LON:WJG) is setting up well, I'll cover it on tonight's episode. Few of the volume bars are making me a little nervous but the overall price action is good. Next possible resistance area around the 250 mark. What made you enter the trade when you did? Did you enter after the 225 resistance area was broken?
Best,
Jack

Rusty2

14th Feb '19

Hi Jack, I see you are holding Renewables Infrastructure (LON:TRIG), when would you be selling?

Jack Corsellis

14th Feb '19

Hi Heribe,
I'm trading this applying Wyckoff Analysis. I got in around the 115 level on a slight pullback after the 4th breakout attempt (I'm hoping that was the final breakout attempt!). Stocks been under some pressure last few days. If it goes below the 114 level I'll most likely exit and wait for another setup opportunity / find better things to invest in.

Rusty2

14th Feb '19

OK thanks, I will look into Wyckoff Analysis.

Any thoughts on SDL (LON:SDL) ?

Jack Corsellis

14th Feb '19

SDL (LON:SDL) is a nice spot. Could be interesting with the overhead supply from previous highs. Although, there's been enough time to transfer the shares from weak hands to the strong hands. Great for a case study, I'll cover it in tonight's video Herbie.

Rusty2

14th Feb '19

OK thanks Jack I will look out for it.

mmarkkj777

14th Feb '19

Hi heregoes18 (and Jack)

I also hold Watkin Jones (LON:WJG), bought a quarter position end of Jan to test the water. Would be interested in your views on it on your UTUBE channel Jack.

Also, I'm still bullish on T Clarke (LON:CTO). I've already sold half after a big rise ealy in Feb, but wish I hadn't. It still looks very strong!

Jack Corsellis

14th Feb '19

Hi Mark,
Sure thing, I'll cover it tonight.
I think it was Jesse Livermore who said to not sell a stock if it was still acting right (very hard to implement in practice though). Just looked at T Clarke (LON:CTO) and it's acting right from the breakout point, other than today perhaps. At least you only sold half!

mmarkkj777

14th Feb '19

Cheers, Jack. I'll have a look later.

Jesse Livermore used to periodically go completely to cash (and I believe go to the bank and count it!), to give him perspective and not to lose sight of the fact it was real money he was trading (easy to forget). Even easier these days when its all electronic with no share certificates, even!.

These masters don't always practice what they preach. JL was a fantastic trader and an inspiration to many other great traders to follow, but he did go bankrupt at least once (maybe twice).

It makes you wonder how, as he made millions (when thousands were a lot). Just goes to show (as per your other thread) traders are often their own worst enemies!!

Jack Corsellis

14th Feb '19

Hi Mark,
I think he did go bankrupt a few times at least! I think he also made $100 million on one day in 1929, which is outrageous!

Rusty2

14th Feb '19

Hi Jack, I watched your youtube tonight. I was a bit puzzled by your comments about volume on SDL (LON:SDL) and £D4T4. I don't think SDL (LON:SDL) is that illiquid, the spread is very tight, only 34bps, ok I have not bought a large amount. Does it not matter about the share price, SDL (LON:SDL) is nearly 3x the share price of £D4T4, so if the volume is nearly the same, the amount of money trader on SDL is much higher. I'm considering D4T4 as well, I would consider that less liquid as the spread is around 250bps, normal trading amount is about the same as SDL.

mmarkkj777

14th Feb '19

Hi Jack,

Yes that's whats strange! If he had put even 20% of that to one side in cash,bonds, or even a safety deposit box, he would never have gone bankrupt again. Traders can be their own worst enemy.

We have to realise that its not the end of the world when we have a bad month and we cant walk on water just because we have had a good month. More importantly, we need to make sure we always have the means to carry on (via risk management, minimum cash levels, or whatever).

heregoes18

14th Feb '19

Hi Jack and mmarkkj777.

I'm still very much in the learning stage and trying to find a style that suits as such. I'm looking to blend the TA side of things with what I think are good fundamentals Watkin Jones (LON:WJG) ticked pretty much all the boxes, so I decided to get in after the 225 area. Just seen tonight's video, thanks for covering. Interesting comments on the liquidity (does not bother me too much given the amounts I'm dealing with).

Jack Corsellis

15th Feb '19

Hi Herbie,
By illiquid I meant (using £SLD as an exmaple) is that the average 3 month volume of shares traded per day is circa 94,000. It comes down to the size of your positions. I do not know your average trading size, but let's say someone wanted to take a £20,000 position at the current share price of £5.80. You'd be buying c 4% of the daily volume of shares traded. If you needed to get out in a hurry, I think you'd get hit hard trying to unload that / I don't think it's worth the risk. I'd rather trade a more liquid stock that is easier to move in and out of due to position sizes. That's just my preference. However, being in a less liquid stock can help if you hold a position and others are trying to pile in afterwards...

Rusty2

15th Feb '19

Yes I understand that but for D4T4 is will be the same or worse? Av. daily vol. is around 97,000 but share price is only around 200p. so to buy £20k is 10,000 shares, that was my point, so about 10% of daily av. vol. The spread on D4T4 is 330bps today. So yes SDL (LON:SDL) is fairly illiquid but D4T4 is even more so. I don't buy £20k in these type of companies, so at the amounts I buy it is usually not a problem. WIde spreads are a much bigger concern.

Rusty2

20th Feb '19

Hi Jack, Just been looking at CSCO which I can't see on your watchlist but I may have missed it, looks as though it could break out, just gone over 52 week high, maybe worth a look?

One suggestion would it be possible to show your watch list in alphabetical order? It would make a lot easy to check for stocks.

Jack Corsellis

21st Feb '19

CSCO looks very interesting. I've added it to the watchlist and will do some work. Initial thoughts is do you think it's in distribution? I'll make the watchlist more user friendly. I've created a page on the website just for the watchlist that I'll update daily (Watchlist Link). Thanks for sharing.

I'm writing a blog post on the current US market, specifically looking at the SPY ETF and comparing the price / volume to 2008/09, 2011/12 & 2015/16. Things look interesting. I'll see if I can post it on Stocko too, but I struggle to upload images on here.

Rusty2

22nd Feb '19

TTD up 17% on stellar 4Q results today.

Rusty2

12th Mar '19

Hi Jack, I've been looking at a few US shares, one that came up was Foot Locker FL, new high but has fallen back about 5%, I don't think you have covered it before.

A few other comments:

Trade Desk TTD, slight pullback but now new high again, worth watching.

Tech Data TECD, bounced off a large pullback.

Shopify SHOP, broken out, slight pullback now up again, probably missed the boat here.

Zebra ZBRA, broken out, slight pullback now up again. Similar chart to SHOP.

Cisco CSCO, not doing much not sure whether to hold or sell.

Jack Corsellis

12th Mar '19

Hi Herbie,

FL I'll cover in tonight's video. It's an interesting one and I'm watching to see if it holds at a key support level.

I'm liking £CMG £TTD £NVTA £ENSG £GOOG £TNDM too...

The ones you mention are on my watchlist and viewing them closely.

Cheers,
JC

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Jack Corsellis

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