Originally posted on Capitalstool’s Stool Pigeons Wire, where I do a lot of thinking out loud with a few friends. It’s a means of helping me to process and retain information for posterity.
Yesterday I posted the raw output of the daily technical screen I run of some 8700 listed NYSE and Nasdaq stonks. I pre filter for a minimum price of 6 bucks and minimum average volume of a million shares per day over the past 4 weeks. The I apply technical filters looking for short term cycle buy and sell signals near key longer period cycle support ranges. There were 34 results yesterday, all but one on the long side.
28 of those ended with a gain from the opening price. Of course one of the losers was the short. The average gain, including the losers, was 2.2%.
| Screen output March 11 | Column1 | Column2 | Column3 |
| Open | Last | % Ch | |
| ABBV.K | 108.13 | 107.87 | -0.1% |
| ACN | 260 | 266.37 | 3.6% |
| APPS.O | 80.99 | 86.98 | 14.6% |
| EA.O | 132.46 | 131.34 | 0.9% |
| ENPH.O | 158.49 | 165.34 | 8.5% |
| EW | 83.64 | 82.97 | 0.0% |
| FNF | 40.56 | 41 | 1.2% |
| GLNG.O | 11.01 | 10.99 | 0.4% |
| HYLB.K | 49.74 | 49.77 | 0.3% |
| IEA.O | 15.24 | 16.52 | 10.9% |
| ILF | 27.91 | 28.31 | 3.2% |
| INVH.K | 29.4 | 29.71 | 1.4% |
| KOSS.O | 26.99 | 25.22 | -16.7% |
| KTOS.O | 26 | 26.95 | 5.5% |
| LQD | 130.29 | 130.21 | 0.1% |
| MPW | 21.58 | 21.22 | -1.3% |
| MTG | 13 | 13.05 | 0.7% |
| NOC | 299.39 | 299.41 | -0.2% |
| O | 61.68 | 61.82 | 0.7% |
| OPCH.O | 19.59 | 20.72 | 5.8% |
| OTRK.O | 30.5 | 35.18 | 17.3% |
| PRTS.O (short) | 15.35 | 15.85 | -5.9% |
| QYLD.O | 22.54 | 22.72 | 2.3% |
| SFL | 8.31 | 8.3 | 0.1% |
| SILJ.K | 15.05 | 15.25 | 2.1% |
| SPY | 392.23 | 393.53 | 1.0% |
| SWBI.O | 18.96 | 18.95 | 1.0% |
| TPIC.O | 51.46 | 51.24 | 2.4% |
| VSTO.K | 32.57 | 33.1 | 3.5% |
| VT | 97.29 | 97.82 | 1.3% |
| WEN.O | 20.46 | 20.27 | -1.0% |
| WPRT.O | 9.5 | 9.53 | 2.9% |
| XLNX.O | 122.02 | 126.09 | 6.2% |
| XLRE.K | 37.92 | 38.37 | 1.5% |
| 2.2% |
Again, this is the raw data that I work with each day. The screens take about 5 minutes to run. Then I eyeball each chart. I’m looking for a couple that look like good candidates for a swing trade of 1-3 weeks. Here’s a sample chart from today’s spitout. It happens to be ABT. I choose it only because of alphabetical order. This choice has zero significance, other than as an illustration.
As a buy, I’d rate this setup as “just ok.” This is a decent entry point because you can set a stop around 115 and have very limited risk. The rebound potential is good, but there are overhead supply issues and time issues that suggest that it’s too early, or that the rebound will be flattish. So, unless I had unlimited trading capital, I’d say, “Meh. Next!”
One of my rules is to avoid biotechs and healthcare stocks in general. I hate them. They’re subjec to nasty, nasty news surprises that result in shit like this. This stock was a buy yesterday, and was the biggest winner in the list, but only because it is rebounding from a crash two weeks ago. Not my cup of tea. This is OTRK. I was curious about what it was, so I read the profile. An online medical platform to treat behavioral issues. What a scam.
But then, everything is a scam today. Can you believe this NFT shit? I mean, WTF is that! Some asshole paid another asshole 69 million bucks for a digital “artwork” NFT yesterday. 69 million!!! WTF!
NFT means Non Fungible Token. I thought a token was something you used to ride the subway. I’m old.
Anyway, I thought I’d post the raw screen data again. I remind you, these are not recommendations. Just illustrating how I go about my work. I’ll pick a few of these to trade for my own account today. And if they’re still well set up, I’ll add them to my weekend chart picks list that I publish in the Liquidity Trader – Technical Trader reports each week. You can try those reports for 3 months risk free if you have never subscribed before. Here’s the latest, posted last Sunday.
Time for a Stock Market Six Month Cycle Low
Today’s screen output has 66 signals. There are a few more sell signals than over the past week, when there were almost none. Today there were 10, but two were bearish ETFs, so 58 of the 66 signals were still bullish. Not good odds for bears. I will look at the shorts, and see if any are worth a shot, but I’ll still tilt toward the long side.
| Screen Output March 12, 2021 | ||||||
| Symbol | Buy | Sell | 500 | 200 | 125 | 50 |
| VFF.O | 1 | 0 | 0 | 0 | 0 | 1 |
| TWOU.O | 1 | 0 | 0 | 1 | 1 | 0 |
| ABT | 1 | 0 | 0 | 0 | 0 | 1 |
| ALT.O | 1 | 0 | 0 | 1 | 0 | 0 |
| APTV.K | 1 | 0 | 0 | 0 | 0 | 1 |
| TEAM.O | 1 | 0 | 0 | 0 | 0 | 1 |
| ATHM.K | 1 | 0 | 0 | 1 | 0 | 0 |
| AZUL.K | 1 | 0 | 0 | 0 | 1 | 0 |
| BDX | 1 | 0 | 0 | 1 | 1 | 0 |
| BIIB.O | 1 | 0 | 0 | 1 | 0 | 0 |
| CHGG.K | 1 | 0 | 0 | 0 | 1 | 0 |
| CLNE.O | 1 | 0 | 0 | 0 | 0 | 1 |
| SID | 1 | 0 | 0 | 0 | 0 | 1 |
| CCI | 1 | 0 | 1 | 0 | 0 | 0 |
| SILJ.K | 1 | 0 | 0 | 0 | 1 | 0 |
| EXAS.O | 1 | 0 | 0 | 0 | 1 | 0 |
| FSM | 1 | 0 | 0 | 1 | 0 | 0 |
| GNMK.O | 1 | 0 | 0 | 0 | 0 | 1 |
| HTBX.O | 1 | 0 | 0 | 0 | 0 | 1 |
| HL | 1 | 0 | 0 | 0 | 0 | 1 |
| HOLX.O | 1 | 0 | 0 | 1 | 1 | 0 |
| INFN.O | 1 | 0 | 0 | 0 | 1 | 0 |
| INTU.O | 1 | 0 | 0 | 0 | 0 | 1 |
| IXUS.O | 1 | 0 | 0 | 0 | 0 | 1 |
| HYG | 1 | 0 | 0 | 0 | 1 | 0 |
| ACWI.O | 1 | 0 | 0 | 0 | 0 | 1 |
| ACWX.O | 1 | 0 | 0 | 0 | 0 | 1 |
| EWT | 1 | 0 | 0 | 0 | 0 | 1 |
| LITE.O | 1 | 0 | 0 | 1 | 0 | 0 |
| MGNI.O | 1 | 0 | 0 | 0 | 0 | 1 |
| MAXR.K | 1 | 0 | 0 | 0 | 0 | 1 |
| MSTR.O | 1 | 0 | 0 | 0 | 0 | 1 |
| MOMO.O | 1 | 0 | 0 | 1 | 0 | 0 |
| EDU | 1 | 0 | 0 | 1 | 0 | 1 |
| OKTA.O | 1 | 0 | 0 | 1 | 0 | 0 |
| ON.O | 1 | 0 | 0 | 0 | 0 | 1 |
| OSTK.O | 1 | 0 | 0 | 0 | 1 | 0 |
| PRPL.O | 1 | 0 | 0 | 0 | 1 | 0 |
| RNG | 1 | 0 | 0 | 0 | 1 | 0 |
| SINO.O | 1 | 0 | 0 | 0 | 0 | 1 |
| SQM | 1 | 0 | 0 | 0 | 0 | 1 |
| SJNK.K | 1 | 0 | 0 | 0 | 0 | 1 |
| STNE.O | 1 | 0 | 0 | 0 | 1 | 0 |
| STOR.K | 1 | 0 | 0 | 0 | 0 | 1 |
| TAL | 1 | 0 | 0 | 1 | 1 | 1 |
| TRMB.O | 1 | 0 | 0 | 0 | 0 | 1 |
| VALE.K | 1 | 0 | 0 | 0 | 0 | 1 |
| VEU | 1 | 0 | 0 | 0 | 0 | 1 |
| VXUS.O | 1 | 0 | 0 | 0 | 0 | 1 |
| VCYT.O | 1 | 0 | 0 | 0 | 1 | 0 |
| VRT | 1 | 0 | 0 | 0 | 0 | 1 |
| VG.O | 1 | 0 | 0 | 0 | 1 | 0 |
| XPO | 1 | 0 | 0 | 0 | 0 | 1 |
| ASHR.K | 1 | 0 | 0 | 0 | 1 | 0 |
| YUM | 1 | 0 | 0 | 0 | 1 | 0 |
| ZEN | 1 | 0 | 0 | 0 | 1 | 0 |
| ALSN.K | 0 | 1 | 1 | 0 | 1 | 0 |
| BLL | 0 | 1 | 0 | 1 | 0 | 0 |
| CELH.O | 0 | 1 | 0 | 0 | 0 | 1 |
| KO | 0 | 1 | 0 | 0 | 1 | 0 |
| SOXS.K | 0 | 1 | 0 | 0 | 0 | 1 |
| TECS.K | 0 | 1 | 0 | 0 | 0 | 1 |
| FIS | 0 | 1 | 0 | 1 | 0 | 0 |
| GILD.O | 0 | 1 | 0 | 1 | 0 | 0 |
| HSBC.K | 0 | 1 | 1 | 0 | 0 | 0 |
| PRTY.K | 0 | 1 | 0 | 0 | 0 | 1 |
Yesterday was a very, very good day for me. I get no joy from gathering profits on the long side. But it’s a business. There’s no joy in being a permabear, either, and being wrong all the time. A few people can do it. I can’t. The trend is your only friend. I like to get it right.
Lee
