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Swing Trade Screen Picks – Energetic Buys and Shorts

The small list for last week started with two closeouts on Monday and one hold, resulting in an average net gain of 1.6% on an average holding period of 9 calendar days. This is not a success because I gave up too easily on the two electric utility shorts. Both were down substantially at the end of the week.

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But the first rule of swing trading is not to lose money, and given the gyrations last week, in that regard, this result was ok. So, it’s time to look ahead, not backward. Learn from each experience and press on! Of course, the market usually forces us to unlearn what we just learned. 😄

For the week ended January 20, there were 11 charts with second or third buy signals as the week ended, and 49 with second or third sells. It makes me question the upside, but in reviewing the sell side charts, they all looked too early at best. I chose only one to add to the list. I liked 3 of the buys. Interestingly, they were natural gas and silver based. Non-subscribers click here for access.

Last week’s 2 picks that were closed out and the one still open are shown on the table below (subscriber report). I have added a trailing stop to that one. In addition, I’m adding the 4 new picks to the list as of the opening price on Monday January 23. Charts are below (subscriber report). Non-subscribers click here for access.

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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. This is a developmental and experimental exercise, for the purpose of providing experienced chart traders with ideas and concepts to use or not use as they see fit. 

Nothing in this letter is meant as individual investment advice and you should not construe it as such. These picks are illustrative and theoretical. The method behind these picks is experimental, and may change over time.  I may trade my own account, and may buy, sell, sell short or cover short, or have positions in any of the stocks on the list at any time, based on a particular trading style that is unique to me. My entry and close out levels are likely to differ from those published due to the exigencies of my trading style and time constraints. I post these items in good faith for informational and educational purposes, and do not take positions in opposition to those which are published. All chart picks are actively traded stocks, and I assume that no subscriber to these reports, nor the total of all subscribers taking positions, would do so in a size that would influence the market price. 

Performance tracking assumes 100% cash basis, no margin, no options. You should not assume that recent performance as reported can or will be repeated in the future. Trading involves risk of loss. In the case of options, the loss can be 100% of the amount invested. When leverage is used the loss can exceed the account equity under certain conditions.

The opinions expressed here assume that readers are experienced investors or are working with an investment advisor.

Posted in 2 - Technical Trader
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