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Long term and intermediate term buy setups were again predominant, while sell side setups increased, but nothing was attractive enough to add to the list
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 Monday, September 8, out of 1672 stocks meeting institutional price and volume criteria
Setups:
358 met major or intermediate trend buy setup criteria, little changed from the 361 that were carrying the market the previous week. Of those, 75 triggered short-term weekly buy signals, down from 143, the prior week.
190 met major or intermediate trend sell setup criteria, up from 88 last week. Of those, only 5 triggered short-term weekly sell signals. But there were 136 total short-term sell signals. The majority weren’t in ideal longer term sell setups.
Tactics
For actionable trades, I focus on any of those charts from the intermediate and long-term setups, and previous breakouts or breakdowns, that have triggered short-term signals over the past week. On the buy side, there was one real company and one junk story stock that had a good chart. Not the kind you would want to marry, but fun for a fling. I would manage risk by keeping my position size small.
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
- 2 new picks, both longs
- No closed picks
- 5 prior picks will remain open this week
- 1 pick to be closed
- No stops
Performance Recap
Picks open as of the September 8 close, showed an average gain of 13.5%, up from 4.8% the previous week, with an average holding period of 31 calendar days. 5 of the 6 had gains. Current performance has been the best in months. Past performance does not indicate future results.
Table of picks and charts in subscriber report.