OK, not all but most. Two hit their stops over the past couple of days and 5 more will be closed out from the list based on this morning’s opening price in New York trading. That will still leave 5 shorts from our last review last week. There are also 5 longs remaining open. Non-subscribers click here for access.
Technical Trader subscribers click here to download the complete report.
The pick list gained a tad in the past week. It currently shows an average gain of 1.8% on an average holding period of 20 calendar days. That’s up from an average gain of 1.6% on an average holding period of 18 calendar days last week. This includes currently open picks, those that will be closed out today, and those that have hit stops over the past week. Non-subscribers click here for access.
Over the past two trading sessions there were 27 charts with a second buy signal on the week, and 22 with a second sell signal. That’s both a small total and a small buy side margin. It suggests that this rally is very narrow and in its late stages. Non-subscribers click here for access.
I visually reviewed all of the charts. I wasn’t enthused about the sells. I’m not a fan of exercises in top picking when we’re only looking at the charts once a week. Even if they break, the bounces come quickly. I chose 5 buys to add to the list, as shown, with charts below. Non-subscribers click here for access.
I will start tracking the new picks based on a price assuming a half position at the open and half at the close today, January 30, 2024. I have added or adjusted stops on a few of the picks. The rest I’m giving room to breathe for this week. The table also shows picks to be closed out as of today’s open. Non-subscribers click here for access.
Table of picks and performance in the subscriber report. 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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