One of the trading strategies that Adam talks about the most is the "52-week Friday rule.” In case you missed Adam talking about this powerful strategy, you can re-visit the video by clicking here. Today we received an email from MarketClub member Glen C. who shared with us how this rule paid off for him:
"I am still very new to trading and I decided Friday 10 Sep to check out the High 52 Week Friday rule. When I did the smart scan RMCP jumped at me, and I studied the chart and saw a spike starting at 2:46 @ .98 and closing at 4:00 @ 1.27. I was curious as to the reason for the spike and did news research that showed a very large Federal contract had been awarded RMCP for medical supplies and software. Figuring that this was late breaking news, and that the tide would continue on Monday I purchased 1000 shares @ 1.29. The kickoff this Monday morning was @1.30 and I watched it go all the way to 1.69 and fluctuate during the day. Figuring that the 1.69 was a decent profit, I set my stop there and sure enough it was met at 2:42 when it went to the day's high of 1.71. My profit for this one trade was over $380. So my recommendation is that if you see a spike on a 52 Week High on Friday, and you can determine the reason, you may be surfing the wave on Monday. Thank you Market Club for such great tools as smart scan and the High 52 Week Friday Rule."
The MarketClub Team