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Happy New Year. Here’s a quick update on our chart picks. Non-subscribers can click here for access.
The screens revealed 133 charts that met minimum long term structural buy criteria last week, and 500 that met minimum long term structural sell criteria. That’s two straight weeks that nearly a third of all the stocks that met minimum price and volume criteria were on the sell side. It suggests that there will be more opportunities to sell short in the new year. Non-subscribers can click here for access.
Of those long-term potential buy setups, 132 also met intermediate term buy side minimum criteria. Of the long-term sells, 499 also met intermediate sell criteria. The intermediate buys and sells were screened for corresponding short term triggers. There were 11 short term buys triggered and 41 sells. Non-subscribers can click here for access.
On visual review I liked none of the buys and just one of the sells (sell short). The rest of the sells have already moved and do not have ideal entry setups .Non-subscribers can click here for access.
Meanwhile, 5 picks dropped off the list last week, as shown on the table below.
Including picks closed last week and the one still open at the end of the week, the list had an average gain of 10.1% on average holding period of 30 calendar days. That compares with +7.6% the previous week on an average holding period 31 calendar days. Non-subscribers can click here for access.
I had culled losing positions earlier in the month. As a result, including the last current open pick and those closed earlier in the month, the average gain in December has been 3.7% on an average holding period of 29 calendar days. 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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