I have added no longs and 1 short to the list for Wednesday. After closed trades there will be 11 longs and 6 shorts on the list.
I have tightened stops on the longs as key support levels and inflection points become apparent. New short picks need a little wiggle room to make initial moves before establishing stops.
Including open trades and those closed so far in February, 64% of all trades have been profitable. The average profit (including losing trades) is 3.6% over an average holding period of 12 calendar days. The S&P 500 has gained 3.7% over the last 12 calendar days.
The list’s current performance is weaker than the past couple of weeks. That is entirely due to 9 trades put on since last Wednesday that haven’t had a chance to develop yet. Obviously, going the right way is not guaranteed, but the new trades need time play out.
Here is today’s updated list including new buys, sells, short sales, cover shorts, and updated stops, as well as performance metrics for this month.
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