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Screen Picks – Still Longing for a Bottom

Expecting a 6-month cycle low in the past couple of weeks led me to have a bullish bias in selecting swing trade picks from the screens. I focused on the buy side and ignored the sell side. That was a mistake with a cost, with the list showing an average loss of 2.8% with a average holding period of 20 calendar days through Monday. Last week I had added stops to most of the list, and most of those got hit. That left only 5 open picks for the coming week. Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

I missed a big opportunity on the short side over the past month. Unfortunately, the decline has aged to the point that it is probably too late to be looking to add shorts. So I continue to be on the lookout more for buy side opportunities. Non-subscribers click here for access.

The riddle lies in whether this might be the first leg of a new cyclical bear market. In that case, the downside may persist longer than has been the case over the past year. So, as I reviewed the screen output I wanted to be open to good sell side setups too. Non-subscribers click here for access.

There were numerous charts to visually review with an output of 76 on the buy side and 89 on the sell side. There were numerous whipsaw signals with charts showing up on both ledgers. Again, the sells already appeared to have run their course. I found only one chart that I liked enough to add on the sell side. Non-subscribers click here for access.

Conversely, I liked 6 on the buy side. This may be the definition of insanity after getting it wrong repeatedly over the past 3 weeks. But as time goes on the odds grow that the 6-month cycle upturn will show up sooner rather than later. The charts I reviewed led me to go with that probability. Non-subscribers click here for access.

The changes made this week will leave the list with 11 longs and just one short as shown on the table in the report.  Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.


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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 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.

Posted in 2 - Technical Trader
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