Current screens yielded 464 short-term buys and 459 short-term sells. Rangebound whipsaws continue to dominate the action. After applying long term trend structure and intermediate term filters, there were 70 buys and 29 sells. Non-subscribers click here for access.
Technical Trader subscribers click here to download the complete report.
Last week I wrote that, “I’m not interested in buys at this late stage of the cycle, especially in view of the warning signs in the liquidity measures.” So much for that. After reviewing the charts I decided to try and pick up a few nickels in front of the steamroller. I added 5 charts on the buy side. I liked one short. Non-subscribers click here for access.
9 picks were closed last week and I’ll remove 1 more as of Tuesday’s opening price. I am letting the rest of the existing picks ride, with added or adjusted stops in some cases. I assume risk management through small position sizes and diversification. Your approach may differ. Non-subscribers click here for access.
As of October 28 closing prices, including open picks and those closed last week, the list had an average gain of 5.2% down from +5.3% the previous week, on an average holding period of 30 calendar days, up from an average of 25 days. Picks closed in September had an average gain of 1.6% on an average holding period of 20 calendar days. Picks closed so far in October had an average gain of +2 % on an average holding period of 27 calendar days. Non-subscribers click here for access.
To view the list and charts of open picks, 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.
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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