MY JOURNAL FOR THURSDAY – May 26, 2022
NEWS, BREAKOUTS, MOMENTUM PLAYS & BOTTOMS
Nothing But Trend Following | Systematic Investor 193 | feat. Jerry Parker
Trend Following legend Jerry Parker joins the show today, where they answer questions regarding the effectiveness and risks of Richard Dennis’ “Pyramiding” methodology, how single stocks have performed differently than the indices recently, how to most optimally apply breakout systems, how to react to a drastic fall in a market like we saw in LUNA and the difference between performance of short and long trades in non-volatility targeted systems, how to avoid harmful research pursuits and popular ideas that just don’t work, different ways that ownership of a CTA passes on to a new owner, designing systems that gives you a high degree of consistency and much more.
Welcome to Osprey Strategic
Nearly a Decade of Experience in the Financial Markets
Greg Schnell, CMT, MFTA, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and recent winner of the CSTA’s Technical Analyst of the Year. He is an active member of both the CMT Association and the International Federation of Technical Analysts.
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BREAKOUTS, MOMENTUM PLAYS, & BOTTOMS
AKT/A.TO – Akita Drilling Ltd.
Akita Drilling is attempting to push higher from a bull flag continuation pattern.
CHE/UN.TO – Chemtrade Logistics Income Fund
The Chemtrade Logistics setup that has been highlighted many times in the past is now breaking out to a 52-week high.
EIF.TO – Exchange Income
Exchange Income appears to be setting up below new multi-year highs. Watch for a breakout.
ENB.TO – Enbridge, Inc.
Enbridge is pushing to a new 52-week high from a multi-week consolidation / continuation pattern.
GEI.TO – Gibson Energy Inc.
The Gibson Energy setup that was recently highlighted in the journal is now breaking out to a new 52-week high.
TCW.TO – Trican Well Service Ltd.
Trican Well Service appears to be set up below horizontal resistance of a continuation pattern while the PPO momentum indicator threatens to perform a bullish cross. Watch for a breakout.
MOMENTUM ALERT SIGNALS
PAST ARTICLES
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The main focus of the SetYourStop Slack workspace is the momentum scanner that was developed to trace abnormal volatility in the Canadian equity market.
Our proprietary momentum scan system searches for abnormal volatility which flags the urgency of buyers. It was designed to signal the potential of momentum coming into an underlying name or sector. The charts issued are to be used as indicators only, not a trigger to buy or sell.– Disclaimer
Once a chart is received, systematic rules are to be used, implemented by the individual (SetYourStop nor ospreystrategic.org holds No Responsibility for one’s actions as the charts given on SetYourStop and ospreystrategic.org are to be used as indicators only and not a trigger to buy or sell) to define and manage risk. Stop-loss orders are an important tool to negate any false signal. The goal is to let winners run while using trailing stop-loss orders to preserve gains.
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