Unless you are in a cloister or on a desert island, most of us have recently been contacted in one way or another by the recent Rob Booker promotion. The latest is about a discovery by an East Tennesee farmer named Jeffrey Turnmile who has generated, in the latest 12 month period, a return in excess of 4000 percent. I have nothing but respect for Rob Booker, who in the past has promoted many such “discovered” traders with outstanding results. Mr. Turnmile has found what they call; Echo Trades.

The reverse engineering of this amazing ‘discovery’ looks very similar to what I have been talking about for the last 10 plus years been discussing in this blog. Identify the trend, then jump in.

The main difference is that Mr. Turnmile, after discovering the trend, waits for a pullback.

He proposes buying trend continuations in an uptrend, wait for a pullback, and at the continuation of the basic trend, trade the continuation.

The continuation becomes the ‘echo trade’.

That’s all folks. Easy Peasy.

An example of what can be accomplished with this basic Echo Trade strategy is the following chart of EPD, Enterprise Products Partners.

One of the scanning services generated this security. Strong buy with analysts price target greater than 20% with a dividend yield greater than 2.5 %.

The weekly chart of EPD shows an uptrend beginning at the end of November 2020.

 

The above, daily chart of EPD. The  Green vertical lines showing BUY. The blue vertical lines showing a CLOSE long position.

Continuing this practice in this security should result in nice continuing profits.

A portfolio of similar securities could possibly replicate Mr. Turnmile’s results.

Please contact me at 516-902-7402 with any questions.