Multiple New Trades Being Added to Daily Swing Trades List For Tuesday 2/20/18 Sets Us Up For Next Big Market Move

The list’s current performance is weaker than the past couple of weeks. That is entirely due to 5 trades put on since 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. That will also be true of the 4 short picks to be added on Tuesday.

I have added no longs and 4 shorts to the list for Tuesday (markets closed Monday). Charts of the new picks are shown in the report.

After closed trades there will be 12 longs and 5 shorts on the list. Selecting the lowest risk long and short chart setups puts us in position to profit from the next big market swing, regardless of direction.

I have been adjusting trailing stops on the shorts and they’ve been getting hit with good results. 11 of the 12 shorts closed last week were profitable. I have been adding stops to the longs as key support levels and inflection points become apparent.

Including open trades and those closed so far in February, 64% of all trades are profitable. The average profit (including losing trades) is 4% per 12 calendar days average holding time. Performance assumes all cash, no leverage used. The S&P 500 has gained 3.1% over the last 12 calendar days.

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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