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Long term and intermediate term buy setups were again predominant.
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, September 12, out of 1672 stocks meeting institutional price and volume criteria.
Setups:
298 met major or intermediate trend buy setup criteria. Of these setups, 145 triggered short-term weekly buy signals, nearly unchanged from 143, the prior week.
157 met major or intermediate trend sell setup criteria. Of those, only 5 triggered short-term weekly sell signals.
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. I chose 2 new buys and 1 short. These are shown on the table below.
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
- 3 new picks, 2 longs and 1 short
- 1 closed pick
- 7 prior picks will remain open this week
- No stops
Performance Recap
Picks open as of the September 12 close, showed an average gain of 12.4%, down from 13.5% the previous week, with an average holding period of 28 calendar days. 7 of the 8 had gains.
Table of picks and charts in subscriber report.