Free Trend Following Trade Ideas for August 2017 (Part 4):
Can you believe it? Labour day weekend is right around the corner. But before we get there, August has a few more trading days we need to get through. So you’ve come to the right place. Just keep reading to see my trend following trade ideas for the last week of August 2017
Now before we get into this fresh batch of trend following stock picks, let’s quickly review the action from the past week.
Quick Stock Market Analysis for August 2017:
Overall, I think the week was a modest win for bulls. With Jackson Hole in full swing, there were broad-based gains throughout the market. And as I mentioned last week, it was a relief to see an uptick in the NYSE Advance-Decline index.
So even though we saw a bit of a fade off Friday’s strong open, I’d say it was a slight win for bulls.
Here’s the updated chart of the S&P-500 SPY ETF so you can see for yourself:
Interestingly, the US dollar continues to weaken, particularly against the Euro. This might further tip the scales in favour of the bulls. So…
I’ll be curious to see if the market can keep bouncing next week; or, will bears be waiting around the corner come Monday morning?
“Either way, the last week of summer is shaping up to be a good one!”
As for me…
I sold my BZUN position after the volatile earnings results. I also got back into SHOP.TO, and started a new position in EQIX (more on that later!). So with earnings out of the way, I’m curious to see if these names can start trending up again.
On the other side of the ledger…
And while I don’t think this is the last we’ll see of this stock, I did have a great win (+50% before dividends). Here’s what that looked like:
Talk about stairs up, elevator down, right?
Sometimes, I get a pang of emotional attachment when selling stocks that I’ve owned for a long time. But it’s important I bite my lip and stick to the system instead of blindly hoping they’ll go up again.
“And it never feels bad to bank a good profit!”
But once again, this sale means I have fresh cash to put to work. So let me show you what stock picks I’m looking at this weekend.
Free Trend Following Trade Ideas for August 2017 – Part 4:
Even though the days are starting to get shorter again, the sun hasn’t yet set on this bull market. And if you’re willing to do some digging, there are still plenty of attractive breakouts under the surface. So let me show you some of the ones I’m watching.
The first idea, which I’ve mentioned a few times on Stocktwits, is Tableau Software. Shares of DATA have been acting well coming out of a potentially huge bottom.
I don’t currently own any DATA, but am looking at pulling the trigger if it can get going again next week. Here’s how I’d play it:
The next stock on my potential buy-list is an old favourite, Amphenol Corp. As you’ll see below, shares of APH remain in what appears to be a very well-defined multi-year uptrend.
This is exactly why I’m interested in buying more. And here’s where I’d raise my stop-loss to, if adding to my position:
I know it can be hard to buy stocks that have gone up so much. But for now, it seems APH has momentum and there isn’t an immediate end in sight.
On the other hand, sometimes I get emails from guys asking for stock picks that aren’t SO extended. And I really do get where you’re coming from.
One relevant idea I want to share with you is the pharma company Bristol Myers Squibb. Shares of BMY have been consolidating for some time, but have recently hit a 50-day high.
Take a look at the chart to see for yourself:
Even though BMY has yet to prove an uptrend, I do like that it finished the week on a strong note. And if the broader bounce in the healthcare sector can continue this trade might just have legs!
Another stock that has my eye is Aflac.
As you can see, this insurance company has been trending higher for most of 2017. And it looks like it might make another high after consolidating for a few weeks.
The next stock pick I have is one I actually came across on StockTwits. And thanks to user WalktoTheCabin for pointing it out.
As I mentioned earlier, I actually started a position in this one Friday morning. But the weekly closing high is just more confirmation that this idea is still actionable.
The other stock I bought this week was Shopify. I was impressed with the strength, although I might have pulled the trigger prematurely:
Regularly readers will remember I previously traded Shopify stock earlier this year (and last). Now…
Usually, I like to wait for a new 20 or 50 day high before getting back into a stock I previously sold.
So I might have jumped the gun on this one. But hey, while I do my best to stick to my trading system, I’m not perfect.
And of course I always have a stop loss in place so my risk is limited.
Now in case you’re curious for even more stock ideas, let me show you behind the scenes and reveal the other stocks currently in my trend following portfolio.
FinViz Watch List of My Trend Following Portfolio:
To make it easier for you, I’ve added the charts of all my current trend following stocks into a FinViz watch list.
Hopefully that gives you a better eye into my stock picking approach, and what the results can look like over time. Of course, if you want to go a step further and learn how I actually find these stocks… well… just keep reading!
Learn How to Quickly Scan and Trade Breakout Stock Picks:
If you want to learn more about how I find these kind of stock picks, I encourage you to check out my Breakout Stock Blueprint! What’s that, you ask?
Well… it’s an 80-page+ PDF… packed with everything I know about finding, buying and trading breakout stock picks.
This blueprint shares the EXACT step-by-step process I use to find and trade stock picks each week (just like the ones above). So…
If you want to see how to find high-potential-momentum stock picks, learn how to let your winners run and be confident about locking in profits, then this blueprint is for you.