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Strategies & Market Trends : Trader J's Inner Circle
BABA 127.06+2.8%9:36 AM EST

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To: Trader J who wrote (53937)10/12/2021 12:42:48 PM
From: E_K_S  Read Replies (1) of 54029
 
If I'm building a position in high P/E stock with a growth story such as ABNB, LCID, FUBO, etc. I usually keep the entire position below 1% - 1.5% of my total portfolio.
I will start out at 0.25% - 0.5% portfolio position especially if I am wanting to build the position to a 1% size and/or to follow and understand management and/or if they have no earnings but is a growth story and/or just a very high PE stock.

Most of my time is looking for new stocks I want to own if/when we get our large correction (5%-15% maybe more). I set up a watch list and will initiate GTC orders at a beginning price that meets my valuation criteria. For example just put in a GTC order in for OSK (they also manufacture JLG brand). Forward PE 11 small 1.3% div but could see growth in an infrastructure bill. Still I only like this 18% below the current price.

I put in a small order at 10% below the current price and then scale higher every 5% lower. I look at support levels using SMA(200) weekly and try to BUY at/below that price. If after following the company I may raise my price if I see more growth potential and/or new products or services.
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