For the week ended April 13, there were 66 charts with multiple buy signals as of the last two trading days. There were just 16 multiple sells. Upon visual review all I saw on the sell side were rangebound whipsaw signals – constant back and forth. I’m not about to guess which one of these might see follow through. Non-subscribers click here for access.
On the buy side, there were many that were moving but had limited upside in the short run. I found 4 that look like they’re just getting started and I’ve added those to the list, as shown on the table below. I will start tracking them as of today’s opening price. Non-subscribers click here for access.
Of the 8 picks left over from last week, the longs did well, the shorts, not so much, as shown below. I’ve added stops to all of the shorts and one of the longs. The other two longs I’m letting ride. Non-subscribers click here for access.
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.