Daily Trades List for Thursday, February 2, 2018

The screening algo generated 9 potential longs and 9 potential shorts for Thursday. I added a long and no shorts to the list. After closed trades there will be 5 longs and 17 shorts on the list.

As of January 31, all open trades and trades closed on January 31 had an average profit of 5.2%, with an average holding period of 12 calendar days. 76% of the trades were profitable. Trades closed in January, through January 30, had an average profit of 2.7% with an average holding period of 14 calendar days. 64% of all closed trades were profitable.

Including all open and closed trades for the month through January 31, 69% of all trades were profitable. The average profit per trade was 3.8% with an average holding period of 13 calendar days. The average gain for the S&P 500 per 13 days was 2.4%.

In the environment of a relentless rally, shorts were a drag on performance until the final week of the month. Shorts were the minority of trades until last week, when the number of shorts increased dramatically.

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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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also provide analysis and charts for David Stockman's Contra Corner which I developed for Mr. Stockman. I’ve had a wide variety of finance related jobs in the past 44 years, including a stint on Wall Street in both analytical and sales capacities. Prior to starting the Wall Street Examiner I worked as a commercial real estate appraiser in Florida for 15 years. I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. My perspective is not of the Ivory Tower. It is from having my boots on the ground and in the trenches of the industries that I analyze and write about today. 

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