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Long term and intermediate term buy setups were again predominant, but there were no appealing short-term signals by late last week.
Setups are not guarantees. They are valid only when short-term signals follow. 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 29, out of 1696 stocks meeting institutional price and volume criteria:
Setups:
361 met major or intermediate trend buy setup criteria, of which 143 triggered short-term weekly buy signals. Daily signals all happened early in the week.
88 met major or intermediate trend sell setup criteria, of which, incredibly, only 1 triggered short-term weekly sell 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. On the buy side, none triggered after Monday. Of those, none still set up well on Friday. Therefore, I found nothing that I liked on either the buy or sell side this 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 29 close, showed an average gain of 4.8%, up from 2.9% the previous week, with an average holding period of 24 calendar days. 4 of the 6 had gains. Table below.
Table of picks and charts in subscriber report.