This Friday’s screens had 24 buys and 25 sells. That compares with the previous Friday’s 25 buy signals and 17 sell signals. Friday’s strength in the market averages was neither broad, nor monolithic.
1273 stocks met the initial screening criteria in the current screen. 3.8% of them rendered signals on Friday. The rest were already moving in the direction of the most recent signal.
Current picks are summarized in the table below. 5 were still open, with an average gain of 1.3% on an average holding period of 17 calendar days. I’m closing out one loser, using the opening price Monday for tracking purposes.
I’m again mostly foregoing stops. My thought is that if one takes a hit, I’d look to exit subsequently. There are enough selections that risk is spread sufficiently so that I can give room for the ones that are going to run the right way, room to do so. That should offset losses on the ones that don’t go as expected.
After reviewing the charts, I chose 3 to add to the list this week. Surprisingly, only one was a buy. The other two were shorts. They’re shown on the table below (subscriber version only). All charts of the new picks and open picks are below. (subscriber version only)
The strategy and tactics opinions expressed in this report illustrate one particular approach to trading. No representation is made that it is the best approach, or even suitable for any particular investor.
These picks are illustrative and theoretical. Nothing in this report is meant as individual investment advice and you should not construe it as such. Trade at your own risk.