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Our proprietary cycle screens revealed 161 charts that met minimum long term ideal buy criteria last week, and 309 that met ideal long term sell criteria. This was from a universe of approximately 1500 listed stocks that met minimum price and volume criteria. That’s the third straight week that the tilt was to the sell side on major trend indications, but the margin was smaller than in the two prior weeks.
Of those long-term potential buy setups, 52 also met ideal intermediate term buy side criteria. Of the long-term sells, 138 also met ideal intermediate sell criteria. That margin was smaller than the prior week.
The intermediate buys and sells were screened for having hit corresponding short-term triggers last week. The result was interesting. There were 14 short term buys triggered and 11 sells. Is that the seed of change? I admit to not knowing. The purpose of the screening algo is to identify potential trading opportunities, not to forecast market direction.
On visual review I liked 4 of the buys and just one of the sells (sell short). I’ll add them to the list based on the average of today’s opening and closing prices, with one exception. That is as shown on the table below. That one has a limit price for the week, as shown. If hit, it will be added. If not, it stays off.
Meanwhile, I had already trimmed the list over the holiday weeks, and I’ll be closing another short as of today’s open. I’ve added a stop to the remaining pick. Charts of Open and New Picks To view the list and charts of open picks, Non-subscribers can click here for access.
For the month of December, including the last current open pick and those closed earlier in the month, the average gain was 3.7% on an average holding period of 29 calendar days. For January, we start with almost a completely new list, based on a few algorithm adjustments that I have made to reduce the number of false positives.
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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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