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More Sells Than Buys in Screen, But I Added Two Buys This Week

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This Friday’s screens had 15 buys and 40 sells. That compares with 24 buys and 25 sells the Friday before.

1232 stocks met the initial screening criteria in the current screen. 4.4% of them rendered signals on Friday. The rest were already moving in the direction of the most recent signal. Despite the preponderance of sell signals, there’s no evidence of broad downside thrust. This is just a narrow pullback.

Picks are summarized in the table below. 1 was closed and 7 were still open, with an average gain of 1.7% on an average holding period of 16 calendar days.

I’m again mostly foregoing stops, with one exception. 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 2 to add to the list this week. Both are buys. They’re shown on the table. All charts of the new picks and open picks are below.

Table (subscriber version only)

Charts (subscriber version only)



Technical Trader subscribers click here to download the complete report.

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. 

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