Category: 2 – Technical Trader

You know it’s bad when you no longer trust your models, or your chart reading. I just cannot commit to trading a market with this much ambiguity. So I continue to review the screening data but will hold out for more clarity before jumping back in with multiple picks.

Meanwhile, for the week ended February 17, there were 16 charts with multiple buy signals as of Thursday or Friday, and 28 with multiple sells. Considering that there are always around 1300 stocks that meet price and volume minimum criteria for my screens, that’s another low, inconclusive number that doesn’t auger a breakout, even with the edge to the sell side. I continue to see mostly whipsaw signals, or moves back to support. I can’t see shorting them here.

When I looked at the charts with buy signals, there was one that looked so good, I had to go with it. Most of the buy signals were in defensive stocks and ETFs. This was the best looking chart of the bunch, XXXX. As usual, I will benchmark the tracking to today’s opening price.

When I looked at the sells, I again wasn’t enamored with those setups. I said the same last week. If this keeps up, the market should eventually break down. Hopefully, I’ll have a few shorts on the list when it does.

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Technical Trader subscribers click here to download the complete report.

Subscription Plans

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 letter is meant as individual investment advice and you should not construe it as such. These picks are illustrative and theoretical. The method behind these picks is experimental, and may change over time.  I may trade my own account, and may buy, sell, sell short or cover short, or have positions in any of the stocks on the list at any time, based on a particular trading style that is unique to me. My entry and close out levels are likely to differ from those published due to the exigencies of my trading style and time constraints. I post these items in good faith for informational and educational purposes, and do not take positions in opposition to those which are published. All chart picks are actively traded stocks, and I assume that no subscriber to these reports, nor the total of all subscribers taking positions, would do so in a size that would influence the market price. 

Performance tracking assumes 100% cash basis, no margin, no options. You should not assume that recent performance as reported can or will be repeated in the future. Trading involves risk of loss. In the case of options, the loss can be 100% of the amount invested. When leverage is used the loss can exceed the account equity under certain conditions.

The opinions expressed here assume that readers are experienced investors or are working with an investment advisor.

Trading ranges are meat grinders for my cycle oriented swing trade screens. Constant whipsaws are shredding my picks. No excuses. It is what it is. Probably best to wait for a breakout from the rangebound mess before adding many picks to the list. Despite that, I found 1 long and 1 short that I liked.

Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

Subscription Plans

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 letter is meant as individual investment advice and you should not construe it as such. These picks are illustrative and theoretical. The method behind these picks is experimental, and may change over time.  I may trade my own account, and may buy, sell, sell short or cover short, or have positions in any of the stocks on the list at any time, based on a particular trading style that is unique to me. My entry and close out levels are likely to differ from those published due to the exigencies of my trading style and time constraints. I post these items in good faith for informational and educational purposes, and do not take positions in opposition to those which are published. All chart picks are actively traded stocks, and I assume that no subscriber to these reports, nor the total of all subscribers taking positions, would do so in a size that would influence the market price. 

Performance tracking assumes 100% cash basis, no margin, no options. You should not assume that recent performance as reported can or will be repeated in the future. Trading involves risk of loss. In the case of options, the loss can be 100% of the amount invested. When leverage is used the loss can exceed the account equity under certain conditions.

The opinions expressed here assume that readers are experienced investors or are working with an investment advisor.

For the week ended February 3, there were 49 charts with multiple buy signals as of Thursday or Friday, and only 10 with multiple sells. Most were uninteresting. But there were two buys that really stood out, so I am adding them to the list this morning.  Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

Subscription Plans

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 letter is meant as individual investment advice and you should not construe it as such. These picks are illustrative and theoretical. The method behind these picks is experimental, and may change over time.  I may trade my own account, and may buy, sell, sell short or cover short, or have positions in any of the stocks on the list at any time, based on a particular trading style that is unique to me. My entry and close out levels are likely to differ from those published due to the exigencies of my trading style and time constraints. I post these items in good faith for informational and educational purposes, and do not take positions in opposition to those which are published. All chart picks are actively traded stocks, and I assume that no subscriber to these reports, nor the total of all subscribers taking positions, would do so in a size that would influence the market price. 

Performance tracking assumes 100% cash basis, no margin, no options. You should not assume that recent performance as reported can or will be repeated in the future. Trading involves risk of loss. In the case of options, the loss can be 100% of the amount invested. When leverage is used the loss can exceed the account equity under certain conditions.

The opinions expressed here assume that readers are experienced investors or are working with an investment advisor.

For the week ended January 27, there were 38 charts with multiple buy signals as of Thursday or Friday, and only 9 with multiple sells. None of the sells had high probability setups for shorting. I liked 6 of the buys enough to add them to the list, as shown on the table below (subscriber content). Non-subscribers click here for access.

Technical Trader subscribers click here to download the complete report.

Subscription Plans

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 letter is meant as individual investment advice and you should not construe it as such. These picks are illustrative and theoretical. The method behind these picks is experimental, and may change over time.  I may trade my own account, and may buy, sell, sell short or cover short, or have positions in any of the stocks on the list at any time, based on a particular trading style that is unique to me. My entry and close out levels are likely to differ from those published due to the exigencies of my trading style and time constraints. I post these items in good faith for informational and educational purposes, and do not take positions in opposition to those which are published. All chart picks are actively traded stocks, and I assume that no subscriber to these reports, nor the total of all subscribers taking positions, would do so in a size that would influence the market price. 

Performance tracking assumes 100% cash basis, no margin, no options. You should not assume that recent performance as reported can or will be repeated in the future. Trading involves risk of loss. In the case of options, the loss can be 100% of the amount invested. When leverage is used the loss can exceed the account equity under certain conditions.

The opinions expressed here assume that readers are experienced investors or are working with an investment advisor.

The small list for last week started with two closeouts on Monday and one hold, resulting in an average net gain of 1.6% on an average holding period of 9 calendar days. This is not a success because I gave up too easily on the two electric utility shorts. Both were down substantially at the end of the week.

Technical Trader subscribers click here to download the complete report.

Non-subscribers click here for access.

But the first rule of swing trading is not to lose money, and given the gyrations last week, in that regard, this result was ok. So, it’s time to look ahead, not backward. Learn from each experience and press on! Of course, the market usually forces us to unlearn what we just learned. 😄

For the week ended January 20, there were 11 charts with second or third buy signals as the week ended, and 49 with second or third sells. It makes me question the upside, but in reviewing the sell side charts, they all looked too early at best. I chose only one to add to the list. I liked 3 of the buys. Interestingly, they were natural gas and silver based. Non-subscribers click here for access.

Last week’s 2 picks that were closed out and the one still open are shown on the table below (subscriber report). I have added a trailing stop to that one. In addition, I’m adding the 4 new picks to the list as of the opening price on Monday January 23. Charts are below (subscriber report). Non-subscribers click here for access.

Subscription Plans

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 letter is meant as individual investment advice and you should not construe it as such. These picks are illustrative and theoretical. The method behind these picks is experimental, and may change over time.  I may trade my own account, and may buy, sell, sell short or cover short, or have positions in any of the stocks on the list at any time, based on a particular trading style that is unique to me. My entry and close out levels are likely to differ from those published due to the exigencies of my trading style and time constraints. I post these items in good faith for informational and educational purposes, and do not take positions in opposition to those which are published. All chart picks are actively traded stocks, and I assume that no subscriber to these reports, nor the total of all subscribers taking positions, would do so in a size that would influence the market price. 

Performance tracking assumes 100% cash basis, no margin, no options. You should not assume that recent performance as reported can or will be repeated in the future. Trading involves risk of loss. In the case of options, the loss can be 100% of the amount invested. When leverage is used the loss can exceed the account equity under certain conditions.

The opinions expressed here assume that readers are experienced investors or are working with an investment advisor.