I’m adding 2 shorts to the list, against 0 buys. With 19 longs already on the list, and the uptrend aging, I’m reluctant to add more at this point. Consequently, I did not review the buy signal charts. Non-subscribers click here for access.
The screens produced 127 charts with multiple buy signals as of the last two trading days of the past week. There were 78 charts with a second sell signal. We have enough buys on the list, and with the age of the uptrend, I’m more willing to look at the short term sell signals. What I saw were a lot of sell signals within uptrends. I’m not a fan of trying to pick countertrend top swing trades. Too often the pullbacks are shallow, or don’t happen at all. Non-subscribers click here for access.
Two shorts hit stops last week. I’m closing out another one based on the opening price this morning. After these changes, there will now be 25 active picks on the list of which, 19 are buys, and 7 are shorts. Non-subscribers click here for access.
Last week was a good rebound week for us after a bad start in the first week of the month.. Picks closed out last week, or currently open, show an average theoretical gain of 4.1% on an average holding period of 20 calendar days. Non-subscribers click here for access.
However, so as not to mislead, 12 picks closed out so far in July have all been losers, in honor of cut your losses and let your profits run. I’ll do a full accounting of the month next week. For now, including open positions, the month is a hair above break even. Non-subscribers click here for access.
7/10/23 June was solid, with 25 picks closed at an average theoretical gain of 9.7% on an average holding period of 36 calendar days. The numbers assume all cash, no leverage, no margin, no options. Non-subscribers click here for access.
I have adjusted or added stops on just a few of the picks. The rest I have left without stops because the price and indicator patterns are good, so I will let those ride, with the assumption of risk mitigation through diversification and small position sizes. Non-subscribers click here for access.
Table in report. Non-subscribers click here for access.