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Liquidity Trader proprietary cycle screens returned 1087 charts that met ideal major trend buy setup criteria last week. That’s out of 1555 that met minimum price and volume criteria. The initial screen is weekly so the weighting of the 4 days prior to what happened Friday probably gives a misleading impression. That’s one of the reason I make my final trade picks only from the daily screens on the closing prices on the day before the report.
Drilling down, there were 206 stocks that met intermediate buy side criteria (down from 268 the prior week) and 194 that hit short term buy triggers over the course of the week.
Hard to believe that only 64 charts met ideal major sell criteria on the week. That means that they rose to long term resistance and were rebuffed. Most stocks had met that criteria in preceding weeks, which is why the number is so low. 52 had ideal intermediate term sell setups. 79 hit short term sell triggers.
Looking at just Friday’s data among the major and intermediate buy setups, there were 71 ideal major trend buy setups out of the 1555 stocks that met minimum institutional price and volume criteria. There were 111 ideal intermediate buy setups. Of those two groups, just 42 triggered short term buy signals. These are the charts that I visually reviewed for final selection.
On the sell side there were 13 ideal major trend sell setups. Again, the low number is due to many stocks forming these setups in prior days and weeks. There were 59 ideal intermediate term sell setups. Of those two groups, 59 stocks triggered short term sell signals, which included all of the intermediate setups. These were the charts that I visually reviewed for final selection.
On visual review I liked 2 of the buys and 9 of the shorts as shown on the table in the subscriber report.
One existing pick hit its stop price during the week. I had selected 4 picks to be covered at last week’s open. Including last week’s closed picks and open picks still on the list as of Friday’s close, the list showed an average gain of 3.0% on an average holding period of 12 calendar days versus 11.7% with an average holding period of 18 calendar days the previous week. Closed picks in February to date have had an average gain of 5.1% with an average holding period of 17 calendar days.
New picks have started off with a recoil, but that’s not unusual. I’m pulling the plug on several but I want to give others a couple of weeks before pulling the weeds. Given the market volatility, I’ve added protective stops to several. The risk with a market that closed like Friday’s is that the stops will be gapped, and then filled, so you can use mental stops if you are of that mind. Either way, there’s risk, as you know.
I have designated 5 buys to be closed as of Monday’s opening prices. Net of those, this week the list starts with 19 open and new picks of which 2 are longs and 17 are shorts.
I am letting the new picks and 2 existing picks ride without stops. I am adding or adjusting stops on remaining picks as shown on the table below. Subscribers can see the complete table of picks and results in the subscriber report.
🔗 Subscribers, download the full report here to access this week’s detailed analysis and chart picks.
Non-subscribers, 📩 Subscribe Now and start receiving actionable insights instantly.
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Lee Adler
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