The screens produced 36 charts with multiple buy signals as of the last two trading days. There were 170 charts with a second sell signal. I reviewed all of the charts on the buy side and about half the sells. Oddly I found 9 charts that I liked on the buy side and none on the sell side. The 9 buys are shown on the summary table below. Non-subscribers click here for access.
4 existing buys and 2 existing shorts on the list hit stops last week. After these changes, there were 10 remaining active picks on the list of which there are 4 longs and 7 shorts. Including the 9 new picks, there will be 13 longs and 7 shorts. Non-subscribers click here for access.
The new picks will be added without stops. In recent months I have been allowing the picks to age for at least 4 weeks before adding stops. I have assumed risk mitigation through diversification and small position sizes. I have adjusted stops on 8 of the existing picks and left two without stops. Non-subscribers click here for access.
Last week was a decent week, continuing a decent month. Non-subscribers click here for access. Currently open picks and those closed out last week, show an average theoretical gain of 5.5% on an average holding period of 23 calendar days. 75% of the picks closed last week or still on the list had gains.
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 report is meant as individual investment advice and you should not construe it as such. These picks are illustrative and theoretical.
The public facing report is not the complete report. Only subscribers have access to the full report and regular tracking of the theoretical picks and closeouts made in the reports.