GRVY case study in power, How I traded it.

One stock that has surfaced on the momo screens is GRVY.   This is one that I did catch, although not as much of the moves, as perhaps I should have caught.   I can honestly say,  I bought this very well.  I caught big moves out of the range breakouts, but I sold after 20 - 30% gains in a few days times.


Here's how I traded it and why.

First, GRVY burst into Stage 2 with a 177% move in 2 weeks times.  This got my attention but I never chase the first move.

The ranges during that introductory move are wide and do not present good opportunity for trades

So I  put it on a watch list and wait ... and wait.  The power, will eventually will return when everyone stops watching.

Finally on Jan 13  GRVY, breakouts out of a narrow range. I felt the range over the past few weeks would provide some support and a place to get out even though volume had dried up.   Only 10K shares had traded when I took a 500 share position at 11.18

I knew this stock had potential given its previous move but would it be a pop and drop I did not know. So I sold the next day at $13.40.  Great trade, but obviously I left a lot on the table as  GRVY would run to 22.  I'm not that upset.  Profit is profit and for every stock like this that runs 100%,  9 will fade back harder.   So book some profits and perhaps trail some.

ROUND 2

Although I exited, I kept a close watch.   Oddly enough GRVY did not give back the gains  even after 100% gains.  I could see it building a Flag and the trading range tightening up  and when it broke to the upside, I re-entered:

 It takes a lot of growth as a trader to be able to buy a stock over 100% higher from the point where you previously bought it and this was a trade I wouldn't have done a few years ago. So I'm pleased that I was able to pull the trigger without hesitation.

Again, I sold too early.  But over $5.50 in 3 days...  I'm not too upset.  I'll just keep watching for the next base to form and .