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Swing Trade Screen Picks – Read My Lips, No New Longs. But a Couple Shorts

The screens still generated more buys than sell signals again over the past week but the advance is tiring. For the week ended Monday, there were 18 charts with a second buy signal on Monday and 14 with second sell signals. That’s down from 61 to 2 on the buy side, the week before. Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

I reviewed all of the charts from today’s screen results. For the first time in a long time I found two that I will add on the short sale side, but with protective stops in case they head out of the gate the wrong way. I did not like any of the buys. For the second straight week, I’m forgoing adding any buy side picks. Non-subscribers click here for access.

We come into last week with 18 longs on the list. I added stops to 11 of those and six of them got hit. That leaves 12 longs on the list to start this week. I added or adjusted stops on all of them. This is with the intent of closing them out as this rally ages. Non-subscribers click here for access.

As of Monday’s close, the average theoretical gain on the existing picks was 7.3% with an average holding period of 20 calendar days. That’s the same average gain as last week, with an average holding period of an additional week. In other words, the list treaded water last week. The gain for November so far is double October’s loss. Finally, some progress after treading water since July. Non-subscribers click here for access.

Table of picks and performance in the subscriber report. Non-subscribers click here for access.

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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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