Perspective and SPPI

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I finished up my latest book for John Wiley & Sons earlier this year, and it'll be in the stores in the autumn. The book focuses on classic technical setups, and in doing it, I was astonished at how many multi-thousand percent gainers I was able to find. MMM, for instance, is a great example (the chart below just shows a portion of its multi-decade run):


What struck me most of all is how each of these massive moves begins very innocently, and it's impossible to imagine how much higher a stock can possibly go once it's launched off its base (and, yes, this is Tim, bear of bears writing this). Here's where MMM started its astonishing ascent:


I am reminded of this lesson as I look again at SPPI, my favorite current long position. Is this the next MMM? I doubt it. But I really like the span of the base, which stretches nearly a decade! It's worth a look. Here's a close-up of the recent breakout: