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Swing Trade Screens Have Buy Side Surge

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This Friday’s screens had 68 buys and 22 sells, which is far more signals than is usual. It compares with 11 buys and 33 sells the Friday before. This indicates a new, moderate buy side thrust. It’s not the kind of surge that comes off a significant low, but it does suggest a second wind for the rally.

1317 stocks met the initial screening criteria in the current screen. 6.8% of them rendered signals on Friday. That’s almost double the signal rate of recent weeks, suggesting again, more stocks making initial moves off a minor low. It was a sign that, when reviewing the charts, I should find some interesting buy side setups.

I did, adding 7 buys to the list. I’ll start tracking those as of Monday’s opening prices. This will bring the list to 15 open picks, of which 12 will be longs, and 3 are shorts.

Including the pick that I closed as of last Monday’s open, there were 9 picks total last week, of which 6 were longs and 3 were shorts. The average gain was 8.5% on an average holding period of 25 calendar days.

The table and charts of open picks are below (subscriber version only).

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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