The screens still generated more buys than sell signals on Monday despite the drop in the market. But as I reviewed the charts, the quality of those buy signals wasn’t great. They were late cycle, higher risk signals. On the other hand, there were still hardly any sell signals. For the week ended Monday, there were 47 charts with a second buy signal in a week, and just 9 with a second sell signal. Monday’s raw totals were 63 buys to 35 sells. On not one day last week did sell signals outnumber buys. Non-subscribers click here for access.
I reviewed all of the charts from today’s screen results. I will add one on the short sale side, but with a limit price, and a protective stop in case it goes the wrong way. I added two on the buy side for the first time in 3 weeks. Non-subscribers click here for access.
We came into last week with 12 longs and 2 shorts on the list. I had stop prices on all of them. 4 of the longs hit their stops. The stops were too tight because a couple of them reversed and went higher. That left 8 longs and 2 shorts on the list to start this week. I adjusted stops on all of them. This is with the intent of closing out the longs as this rally ages. Non-subscribers click here for access.
As of Monday’s close, the average theoretical gain on the existing picks was 11.9% with an average holding period of 24 calendar days. That’s up from an average gain of 7.3%, with an average holding period of 20 days the week before. So we tacked on 4.6% last week. Non-subscribers click here for access.
November was a good month with 10 of 12 closed picks registering gains. Closed picks had an average gain of 5% with an average holding period of 15 calendar days. These results are theoretical, based on the assumption of all cash trades, no margin, no options. Non-subscribers click here for access.
Table of picks and performance in the subscriber report. Non-subscribers click here for access.
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.