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$ISRG - Buy Alert @ $639.40

BotTrigger Trade Alert: $ISRG bought @ $639.40. Loose stop on this one as it may retest the $616 lows for a double bottom formation before moving higher, which is typical after stocks have corrected this deeply. That is the extreme case of a double bottom. Another bottoming formation is to simply print a higher low. For example, ISRG may pullback to the FRZ (fibonacci retracement zone) from 38.2% - 61.8% as this is the most common zone for pullbacks to occur from the pivot lows. So the first entry if you decide to wait would be around the 38.2% retracement value which is around $633 - $626 which is the 61.2% retracement value. The $616 lows would be a 100% retracement value. We are holding this as a core play @ 3% allocation. Will add if we get our pullback.

Some of the greatest pearls shared by Jesse Livermore:

“Money is made by sitting, not trading.”

“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money everyday, as though they were working for regular wages.”

“Buy right, sit tight.”

“Nobody can catch all the fluctuations.”

“There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. Not many can always have adequate reasons for buying and selling stocks daily – or sufficient knowledge to make his play an intelligent play.”

“It takes time to make money.”

“Don’t give me timing, give me time.”

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