The screens produced 14 charts with multiple buy signals as of the last two trading days. There were 97 charts with a second sell signal. I reviewed all of the charts and found 2 that I liked as shorts and no buys. Non-subscribers click here for access.
3 existing buys and 1 existing short on the list hit stops last week. After these changes, and including the 2 new picks, there will be 10 longs and 5 shorts on the list this week. Non-subscribers click here for access.
The new picks will be added without stops. I have assumed risk mitigation through diversification and small position sizes. I have added or adjusted stops on 13 of the existing picks and left two without stops. Non-subscribers click here for access.
Last week was a a bad week, as my picks from last week were all on the long side and all broke bad, except one. Currently open picks and those closed out last week, show an average theoretical gain of 4.2% on an average holding period of 17 calendar days. This was down from a 5.5% average gain last week on an average 23 day holding period. Non-subscribers click here for access.
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.
The public facing report is not the complete report. Only subscribers have access to the full report and regular tracking of the theoretical picks and closeouts made in the reports.