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Swing Trade Screen Picks – Had the Plot, But Not the Right Actors

List performance was poor last week despite being overwhelmingly long, consistent with the market. It might just be a matter of requiring a little patience, or it might be just that time when the market takes back some of what we took from it. Or it might be the precursor to a market reversal. Or pure chance. It happens. I can’t draw any conclusions from this action yet. Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

Including picks still open at the end of the week plus those stopped out during the week, the list had an average loss of 0.6 % with an average holding period of 12 calendar days. That compares with a gain of 1.3% with an average holding period of 11 calendar days, for the prior week. In other words, treading water. Non-subscribers click here for access.

Screens of Friday’s closing price charts resulted in 20 stocks meeting preliminary buy side criteria versus 82 on the sell side. That compares with 87 buys and 24 sells the week before. That’s a reversal of the recent trend but the numbers are too small to represent a broad market reversal. Non-subscribers click here for access.

Next, I counted the signals that were triggered on Friday alone. After applying these trigger filters, just 5 of the preliminary buys qualified on Friday, while 9 of the sells did. I liked 2 of the buys enough to add to the list. I added one of the sells as a short. Non-subscribers click here for access.

Two picks hit their stop prices last week. Another loser was dropped as of last Monday’s opening price. Dropping those and adding the 3 new ones will leave 12 buys and 1 short on the list for this week. Non-subscribers click here for access.

Subscribers, see table of picks and charts in report. Non-subscribers click here for access.

For picks closed in May, it was a losing month. Picks closed out during the month had an average loss of 0.1% and an average holding period of 22 calendar days.  Non-subscribers click here for access.

For all picks closed out in April the average gain was 15.2% on an average holding period of 34 calendar days. Of those 7 were buys and 4 were shorts.   Non-subscribers click here for access.

Past performance does not suggest future results.

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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.

This public report is not the full report.  Only subscribers have access to the full report and regular tracking of the theoretical picks and closeouts made in the reports.  Non-subscribers click here for access.

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Posted in 2 - Technical Trader
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