This Friday’s screens had 46 buy signals and 5 sell signals. Two of the sell signals were on inverse ETFs, making the actual score 48 to 3 in favor of the bulls. This still indicates little thrust for the market as a whole. But it’s more than last week and it shows even less drag. Given that 1270 stocks met the initial screening criteria, 96% of stocks are either already moving in the direction of the most recent signal, which is to say, up.
The charts that I liked enough to add to the list on the long side as of Monday’s open are xxx, xxx, xxx, xxxx, xxxx, xxxx, (and similar but one is enough), xxxx, and xxxx (in subscriber version only). Charts below (subscriber version).
Previous picks, including those closed last week and still open on Friday, had an average gain of 2.5% with an average holding period of 15 days. That’s little changed from the prior week’s 2.3% on an average holding period of 19 calendar days.
Three picks were stopped out last week and one I set to be covered on the open last Monday. That left 5 open picks. All are again longs, after having a token short or two for a couple of weeks. All 8 new picks are also longs. After a couple of months of few picks, we’re finally getting back to the normal complement of 12-16.