TTMI - Another Pocket Pivot Entry

One day after I bought INTA on a pocket pivot, I bought TTMI on a similar looking breakout. This was not in violation of my one new position a week trading rule because I was able to move my stop on ONON to offset the risk of the new position.

I’m trying to focus more on the strongest stocks in leading sectors, and TTMI is in the electronics contract manufacturing business, so it fits the bill.

Since its 29% earnings reaction in October, it’s been basing with just a 10% pullback. It did try to break out once in December on a gap, but it wasn’t ready and quickly pulled back into the base.

A hollow candlestick chart for SRRK
Click the image to view full size

This is its second attempt at breaking out, and this time it’s a much more constructive breakout with support at the 21ema coupled with well above average volume on the breakout.

I’m a little disappointed it didn’t follow through the next day, but it did stay inside the previous days candle with low volume, so all hope is not lost.

Stopped Out On The Deep Seek Saga

I was very fortunate not have a lot of exposure when the Deep Seek news took out NVDA and a lot of the stocks that are related to the AI industry on Jan 27th.

TTMI is in a related industry and was down nearly 8% on the day, but I was lucky and didn’t experience any slippage below my stop. So while getting stopped out is unfortunate, it wasn’t a catastrophe.

Want an alert when I update my watchlist and detail my latest buys? Get on my email list and I'll keep you up to date.

* indicates required

Intuit Mailchimp