We’re in a suddenly very tough environment where multiple whipsaws and failed signals in both directions have shredded the list’s performance. Such periods occur from time to time. Traders know that drawdowns happen. It’s how they manage them that determines the difference between long term success or failure.
It’s important not to freeze but to continue to react to signals, and to keep stops near the appropriate support and resistance levels. Eventually the market will return to a cyclical rhythm that we can take advantage of, but only if we continue to take positions where setus are clear, and occasionally suffer the slings and arrows of outrageous fortune.
I have added no longs and re-added one short to the list for Wednesday. After closed trades there will be 13 longs and 3 shorts on the list.
I have tightened stops on both longs and shorts.
61% of trades closed in February through February 26 were profitable for an average net gain of 3.3% on an average holding period of 13 days. Including open trades and those closed so far in February, 54% of all trades have been profitable. The average profit (including losing trades) is 2.4% over an average holding period of 12 calendar days. By comparison, the S&P 500 has lost 2.8% in February.
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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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