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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, October 3, out of 1899 stocks meeting institutional price and volume criteria:
Setups:
239 met major or intermediate trend buy setup criteria. Of these setups, 127 triggered short-term weekly buy signals, up from 53 the prior week.
67 met major or intermediate trend sell setup criteria. Of those, none triggered short-term weekly sell signals. However, there were 81 short term sell signals, that were not in ideal longer term 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. New picks are shown on the table.
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
- 0 new picks
- 2 Picks stopped out, 1 to be sold
- 9 prior picks will remain open this week
- 1 with Limit Sell
- 6 with stops
Performance Recap
Picks open as of the October close, or closed last week, showed an average gain of 11.6%, up from 7.5% the previous week, with an average holding period of 30 calendar days, up from 24, the previous week. Past performance does not indicate future results.
Table of picks and charts in subscriber report.