Below we will present one version of “harvesting” profits as a stock rallies. We consider this a conservative plan. A more aggressive plan might be the process popularized by Richard Dennis in his “Turtle Traders” program. In his process, once Dennis caught a trend upwards, he used price corrections back to a support level, to buy more shares thus increasing cost and the size of the share position.
Harvesting Profits with pre-set goals in Stage Analysis
The LOTM approach below is similar to a farmer selectively harvesting a “crop” as the “crop” reaches different degrees of maturity. In our approach we plant the seeds during the over-sold or base building stage (Stage one chart analysis), watching the seed maturing and bearing fruit (stage two chart analysis) and harvesting that fruit in a planned and systematic way (late stage two stage three and early stage four Continue reading
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