I typically add new stocks into my portfolio, when the overall portfolio value reaches a certain threshold (see here). Before that happens I accumulate the holdings I now hold based on their price action. At today’s high levels I am mostly waiting gor prices to drop. When the stock reverses for either a small or large correction, that is my time.
Today some of my holdings and stocks of my immediate interest did exactly an action which sparked my attention. They reversed significantly. However, it is not a buy signal. I want to see what they will do next. Will they continue falling? If so I enter my conditional order (or contingency order) as I tried to describe here). If they rebound and continue up, I will do nothing and stay calm aside waiting. The current prices are too high for buying and if they should continue higher, I want to buy at least at smaller correction.
The stocks which sparked big bright today were:
Ferrellgas was hit big today and I am seriously thinking to open an order for this stock or a new put selling option order.
We will see tomorrow.