2/16/21 Every week I run technical stock screens covering all NYSE and NASD stocks trading above $6 and averaging more than 1 million shares a day. This typically results in between 15 and 50 charts to review visually. I’m looking for low risk, high reward price structures, which I’m not smart enough to program into the screening process. But it’s ok. I like to look at charts. 😊
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List performance degraded last week, with the average gain dropping to +2.5% on an average holding period of 12 days. That includes open picks and those that triggered stops during the week. Remaining picks are shaky. I have tightened stops.
New for this week, I’ve added 5 shorts and no longs to the list.
This table summarizes recent list performance.
| Week Ended | Gain/Loss | Average Days Held |
| 5/1/21 | +2.5% | 12 |
| 4/24/21 | +3.5% | 13 |
| 4/17/21 | +6.0% | 15 |
| 4/9/21 | +3.3% | 11 |
| 4/2/2021 | +1.2% | 4 |
| 3/26/21 | -1.6% | 6 |
| 3/19/21 | +1.4% | 9 |
| 3/12/21 | +4.7% | 10 |
| 3/05/21 | +1.2% | 10 |
This assumes cash trades, no margin, no options. After last week’s planned stop-outs, 5 longs remain on the list.
Here’s the list performance by symbol last week along with updated closeouts, and adjusted stop levels (table in report- subscribers only). Click here to subscribe, 90 days risk free for first time.
The list was 100% long, which turned out to be problematic. However, for months, sell side picks have not worked, so I’ve been reluctant to add any over the course of the most recent upswing. That changes this week, with 5 shorts to be added to the list.
The current screen from charts as of the close on April 30, had 57 total signals with 9 buy signals against 46 sell signals. That’s the second highest sell side edge in the past two weeks, but not enough to indicate intermediate term downside impetus. That could come Monday. Or not.
The symbols in bold I’ll add to the chart pick list as of Monday’s open. There are 5, all shorts (available to subscribers only). Click here to subscribe, 90 days risk free for first time subscribers.
| Symbol | Buy | Sell | 500 | 200 | 125 | 50 | |
| AZN.O | 1 | 0 | 0 | 1 | 1 | 0 | |
| BSV | 1 | 0 | 0 | 0 | 0 | 1 | |
| CAG | 1 | 0 | 0 | 0 | 0 | 1 | |
| CDNS.O | 1 | 0 | 0 | 0 | 0 | 1 | |
| CNI | 1 | 0 | 0 | 1 | 1 | 0 | |
| OMF | 1 | 0 | 0 | 0 | 0 | 1 | |
| PG | 1 | 0 | 0 | 0 | 0 | 1 | |
| RCL | 1 | 0 | 0 | 0 | 0 | 1 | |
| TEAM.O | 1 | 0 | 0 | 0 | 0 | 1 | |
| AOS | 0 | 1 | 0 | 0 | 0 | 1 | |
| AVGO.O | 0 | 1 | 0 | 0 | 0 | 1 | |
| AXL | 0 | 1 | 0 | 0 | 0 | 1 | |
| BCS | 0 | 1 | 0 | 0 | 0 | 1 | |
| CIEN.K | 0 | 1 | 0 | 0 | 1 | 0 | |
| CNHI.K | 0 | 1 | 0 | 0 | 0 | 1 | |
| CNX | 0 | 1 | 0 | 0 | 0 | 1 | |
| CRM | 0 | 1 | 0 | 1 | 0 | 0 | |
| CSIQ.O | 0 | 1 | 0 | 1 | 0 | 0 | |
| DAR | 0 | 1 | 0 | 0 | 0 | 1 | |
| ETSY.O | 0 | 1 | 0 | 0 | 0 | 1 | |
| FOLD.O | 0 | 1 | 0 | 0 | 0 | 1 | |
| FSLR.O | 0 | 1 | 0 | 1 | 0 | 0 | |
| FXI | 0 | 1 | 0 | 1 | 0 | 1 | |
| GDS.O | 0 | 1 | 0 | 0 | 0 | 1 | |
| GNTX.O | 0 | 1 | 0 | 0 | 0 | 1 | |
| IBB.O | 0 | 1 | 0 | 0 | 1 | 0 | |
| INSG.O | 0 | 1 | 1 | 0 | 0 | 0 | |
| JWN | 0 | 1 | 0 | 0 | 0 | 1 | |
| KWEB.K | 0 | 1 | 0 | 1 | 0 | 0 | |
| LABU.K | 0 | 1 | 0 | 0 | 0 | 1 | |
| LTHM.K | 0 | 1 | 0 | 0 | 1 | 0 | |
| LW | 0 | 1 | 0 | 0 | 0 | 1 | |
| MAXR.K | 0 | 1 | 0 | 0 | 0 | 1 | |
| MCHI.O | 0 | 1 | 0 | 0 | 0 | 1 | |
| MMP | 0 | 1 | 1 | 0 | 0 | 0 | |
| MRVL.O | 0 | 1 | 0 | 0 | 0 | 1 | |
| NTNX.O | 0 | 1 | 0 | 1 | 0 | 0 | |
| NYCB.K | 0 | 1 | 0 | 0 | 0 | 1 | |
| PACB.O | 0 | 1 | 0 | 0 | 1 | 1 | |
| PAGS.K | 0 | 1 | 0 | 1 | 0 | 1 | |
| PCAR.O | 0 | 1 | 0 | 0 | 1 | 0 | |
| PD | 0 | 1 | 0 | 0 | 1 | 0 | |
| QFIN.O | 0 | 1 | 0 | 0 | 0 | 1 | |
| RDSa | 0 | 1 | 0 | 0 | 1 | 0 | |
| RDSb | 0 | 1 | 0 | 0 | 1 | 0 | |
| SGMO.O | 0 | 1 | 0 | 1 | 0 | 0 | |
| ST | 0 | 1 | 0 | 0 | 0 | 1 | |
| STM | 0 | 1 | 0 | 0 | 1 | 0 | |
| TAN | 0 | 1 | 0 | 1 | 0 | 0 | |
| TWOU.O | 0 | 1 | 0 | 0 | 1 | 0 | |
| TWTR.K | 0 | 1 | 0 | 0 | 1 | 1 | |
| UCTT.O | 0 | 1 | 0 | 0 | 0 | 1 | |
| UNIT.O | 0 | 1 | 0 | 0 | 0 | 1 | |
| URBN.O | 0 | 1 | 0 | 0 | 0 | 1 | |
| WB.O | 0 | 1 | 0 | 0 | 0 | 1 | |
| Totals | 9 | 46 | 2 | 11 | 13 | 35 |
The total number of signals has been generally trending down since the March 27 surge of 163 signals, of which 155 were buys. This shrinkage is normal as a trend progresses. Initial surges occur at significant intermediate term turning points. They generate residual momentum for several weeks. The upside momentum from that initial push has waned. On the whole, last week there were 113 buys and 99 sells. The uptrend has run out of gas.
I’ll post the technical market update later.
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Want to know what the new picks are, along with the winners and losers still on the list from last week? Subscribe to the Technical Trader service and find out! New subscribers can try it risk free for the first 90 days.
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These reports are not investment advice. They are for informational purposes, intended for an audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance.
