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With gratitude for your support, I wish you a Joyeux Noel and Happy New Year from Nice, France!
The screens revealed 33 charts that met minimum long term structural buy criteria last week, and 455 that met minimum long term structural sell criteria. That’s nearly a third of all the stocks that met minimum price and volume criteria. It’s a dramatic change that suggests that there will be more opportunities to sell short in the new year. Just not right now. Non-subscribers can click here for access.
Of those long-term potential buy setups, just 24 met intermediate term buy side minimum criteria. Of the long-term sells, 317 met intermediate sell criteria. The intermediate buys and sells were screened for corresponding short term triggers. There were 3 short term buys triggered and 18 sells. The reason that there were so few short term sells is that most of the damage had already been done. The next round of sell signals after a rebound or consolidation should be good short sales. Non-subscribers can click here for access.
On visual review I liked none of the buys or sells (sell short). The holiday week is always a good time to take a break anyway.
Meanwhile, 11 picks dropped off the list last week, as shown on the table below. I had recommended 3 to be sold as of the open last week. The rest hit my posted stops. I am placing or maintaining stops on all but 1 of the 6 picks that remain open to begin the holiday week. Non-subscribers can click here for access.
Including open picks as of December 20, and those closed last week, the list had an average gain of 7.6% on average holding period of 31 calendar days. That compares with +7.0% the previous week on an average holding period 30 calendar days. Non-subscribers can click here for access.
I had culled losing positions earlier in the month. As a result, for December as a whole, including current open picks and those closed earlier in the month, the average gain has been 3.5% on an average holding period of 26 calendar days. Non-subscribers can click here for access.
This system obviously isn’t perfect. The screens have done a good job of finding winners but also too many that turn bad. I continue to tweak the algorithms with the goal of including checks in the screening process that will recognize setups that will not be profitable. However, sometimes good charts end up breaking bad. 😁 Non-subscribers can click here for access.
Charts of Open and New Picks To view the list and charts of open picks, Non-subscribers can click here for access.
Disclaimer:
All recommendations are theoretical and assume cash-based trading with no margin or options. Use risk management techniques tailored to your investment strategy. For more insights, visit Liquidity Trader.
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