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Long term and intermediate term buy setups were again predominant, and about 40% of those met short-term trigger criteria. There were three times as many buy setups as sells. Only 3 of the sell side setups triggered short-term sell signals.
Setups are not guarantees. They may move in the direction of the setup or they may not. Therefore the next screening layer looks for short-term trigger signals from within the stocks that have met the setup criteria.
On that basis, the results this week are as follows:
During the week ended Friday, August 22, out of 1744 stocks meeting institutional price and volume criteria:
Setups:
326 met major or intermediate trend buy setup criteria, of which 151 triggered short-term weekly signals. Daily signals on Thursday and Friday were all but nonexistent.
105 met major or intermediate trend sell setup criteria, of which just 3 triggered short-term weekly signals.
Tactics
For actionable trades, I focus on any of those charts from the intermediate and long-term setups that have triggered short-term signals over the past week. I also review the existing issues on the list for whether to close, hold, or add or adjust stops. Here are the results of my final review for this week.
Trade Selections and Adjustments
- No new picks
- No closed picks
- 6 prior picks will remain open this week
- No stops
Performance Recap
Picks open as of the August 22 close, showed an average gain of 2.9% with an average holding period of 3 weeks. 5 of the 6 had gains. The sixth still set up well. Table below.
Table of picks and charts in subscriber report.