The meat grinder tore up my picks last week, wiping out more than a month’s worth of hard won average gains. Attempting swing trades of expected duration of 3-4 weeks in a weakly trending market with lots of chop, is virtually a fool’s errand at this point. Day trading, or buy and hold, has worked a lot better lately. C’est la vie. C’est la marche.
History tells us that conditions in force tend to remain in force until they don’t. It’s market inertia. So I approach my short term picks at this point with high skepticism. I continue to dip a toe in the water with a pick here and, but no more than that, until I see signs of good performance. This week I saw two charts that I liked enough to add to the list. Both were in the agricultural sector.
This Friday’s screens were bullish with 55 buy signals and 19 sell signals. That suggests more upside ahead.
Get the newest pick and review charts of existing picks in today’s report. Technical Trader subscribers click here to download the complete report.