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There were so many buy signals and bullish setups this week, that I arbitrarily stopped adding selections to the list at 10 picks. That’s enough risk for one week.
The list currently has an average gain 5.4% on an average holding period of 26 calendar days, including open picks and those closed out last week. Remaining open picks have an average gain of 19.5%, which is misleading because only 3 picks are open, and one has an outsized profit. Details below.
During the week ended Friday, February 6, out of 1899 stocks meeting institutional price and volume criteria, the screens produced the following results :
Cumulative lists of longer-term setups:
- 350 resting big gainers, up from 330 last week
- 378 sleeping dogs, up from 364 last week.
- 151 breakout charts last 9 months- unchanged from 151 last week
- 112 breakdown charts last 9 months – up from 111
Weekly screens of cycle positions.
- 184 met strict major or intermediate trend buy setup criteria, up from 103. Of all bullish longer term setups, 146 charts triggered short term buy signals, up from 15 last week.
- 57 met strict major or intermediate trend sell setup criteria, down from 74. Of all bearish longer term setups, 27 charts triggered short term sell signals, down from 33 last week.
Tactics
For actionable trades, I visually review charts that triggered short term signals from the prescreened structural candidates. 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
- 10 new picks, all buys. I arbitrarily stopped at that point, about halfway through the candidate list. See table .
- 7 existing picks were closed last week. 1 more will be closed based on Monday’s opening price
- 2 earlier picks will remain open, 1 buy, 1 short
Table in subscriber report. Non subscribers, click here for access.