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Swing Trade Screen Picks – No Gifts for the Holidays

The screens generated more buys than sell signals on Friday continuing a string that has lasted many weeks. It came after two days with a majority of sell signals during the week. But the numbers were small and remain small as the advance matures. Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

For the week ended Friday, there were 28 charts with a second buy signal in a week, and 14 with a second sell signal. Friday’s raw totals were a surprising 31 to 29. Call it a virtual tie. One of the buys was a bearish gold stock ETF.

I reviewed all of the charts from today’s screen results. Based on typically sloppy market behavior around the holidays I am reluctant to add any stocks to the list during this period. None of the charts was so compelling that I would add them in mid December when cross currents are even more prevalent than usual.

We came into last week with 10 longs and 2 shorts on the list. I had stop prices on all of them. 5 of the longs hit their stops. That left 8 longs and 2 shorts on the list to start this week. I have added or adjusted stops on all of them and will remove one as of Monday’s opening price. This is with the intent of closing out the longs as this rally ages.

As of Monday’s close, the average theoretical gain on the existing picks was 11.8% with an average holding period of 24 calendar days. That’s little changed from the prior week’s average gain of 11.9%, with an average holding period of 24 days.

Five picks have been closed out in December so far. 4 were profitable. Including all 5 closeouts, the average gain was 9.2%, with an average holding period of 28 calendar days.

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

Not a subscriber? Get price and time targets, and weekly swing trade chart picks, risk free for 90 days! 

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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