Swing trade stock screens produced 50 charts with multiple buy signals as of the last two trading days of the past week. Four of those were inverse ETFs, for a net bullish total of 46. Non-subscribers click here for access.
There were 172 charts with a second sell signal. That’s a lot of sell signals, and only one of them was an inverse ETF. Non-subscribers click here for access.
Should we be excited? Given that rangebound markets have a propensity to generate constant whipsaws, I would still take these numbers with a grain of salt. Non-subscribers click here for access.
The goal is to keep from being chewed up in the meat grinder. Lately I’ve managed to do that successfully, but at the same time, the gains have been insignificant. Last week the average gain was 2.7% on an average holding period of 18 calendar days. Six picks were closed out by either deciding to close on the open last Thursday, or by hitting stops. These are shown on the table below (subscriber version). Non-subscribers click here for access.
After 3 of the shorts were closed out, that left one active short and 14 buys. Non-subscribers click here for access.
There were too many signals this week to visually review all of the charts but I looked at most of them, including all 50 buys. The theme again was tech, tech, tech, particularly semiconductors. I added 4 buys to the list, bringing the total of open picks to 18 buys and one short. Non-subscribers click here for access.
I reviewed about 100 of the sells. They were mostly signals in the context of rangebound noise with ambiguous setups. Many of the signals were in health care, real estate, and other interest sensitive sectors. But I saw no setups that were compelling enough to add to the list. There was too much ambiguity in the charts. Non-subscribers click here for access.