No setup gets me more excited than buying a fresh new all-time high.
There are no bagholders looking to unload their losing position to breakeven. Every investor or trader holding a long position is making money. And every trader holding a short position is losing money and the only way they correct that sad state of affairs is to buy stock to stop their losses.
In other words, blue skies above.
This doesn’t guarantee success on a long trade here, of course. But these are the types of trades that commonly lead to my biggest gains.
Here’s a weekly chart of semiconductor name Analog Devices $ADI: [Read more…]