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During the week ended Friday, January 2, out of 1899 stocks meeting institutional price and volume criteria, the screens produced the following results :
Cumulative lists of longer-term setups:
257 resting big gainers, up from 241 2 weeks ago, and
334 sleeping dogs, up from 324 last week.
142 breakout charts last 7 months- no change from 2 weeks ago
111 breakdown charts last 7 months – also unchanged
Weekly screens of cycle positions.
98 met strict major or intermediate trend buy setup criteria down from 265. 92 triggered short term.
48 met strict major or intermediate trend sell setup criteria, down from 300. 10 triggered short term.
Tactics
For actionable trades, I visually review charts that triggered short term signals from the prescreened structural candidates. I chose 6 buys and 2 shorts to add to the list 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
- 8 new picks, 6 Buy, and 2 Short. See table below.
- 1 existing buy pick was stopped last week. It whipsawed and the chart is still solid. So I re added it to the list
- 6 earlier picks remain open, 1 buy, 5 short. I have added stops to 3 of them. See table.
Including new picks this week begins with 7 buys and 7 shorts.