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Posted in Lee's Free Thinking

Yesterday Was A Gift Wrapped Shorting Opportunity On a Silver Platter 3/23/21

This is a syndicated repost courtesy of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Reposted with permission.

Why do I say that?

First, a solid majority of signals from my daily technical stock screens of 9000 issues on the NYSE and Nadsacs were bearish. I have learned not to argue with the data.

I might not read it correctly. I might interpret it wrong, but I know not to argue with it. You can’t fool Mother Data.

Today’s screen had 8 buys and 29 sells. One of the buys was an inverse fund. Therefore, only 7 of the 37 signals were bullish. 30 were bearish. I’ll pick a few of these to add to my personal trading ready list for today.

Here’s the raw data. These are not recommendations. If you’re interested, take a look at these in your own charts. I report. You decide. 😀

Symbol Buy Sell 500 200 125 50
AZN.O 1 0 1 0 0 0
KO 1 0 0 1 0 0
FIVN.O 1 0 0 0 1 0
GLPI.O 1 0 0 0 0 1
GILD.O 1 0 0 1 0 0
ZSL 1 0 0 0 0 1
SIRI.O 1 0 0 0 0 1
TOL 1 0 0 0 0 1
APTV.K 0 1 0 0 0 1
AZUL.K 0 1 0 0 0 1
BLDP.O 0 1 0 0 1 0
CCL 0 1 1 0 0 0
CNP 0 1 1 0 0 0
DHT 0 1 1 0 0 0
EBAY.O 0 1 0 0 0 1
EVRI.K 0 1 0 0 0 1
GOL 0 1 0 1 0 0
GRWG.O 0 1 0 0 0 1
INFN.O 0 1 0 0 0 1
PGX 0 1 0 0 0 1
FXI 0 1 0 0 1 0
EWZ 0 1 0 0 1 0
YY.O 0 1 0 0 0 1
KMPH.O 0 1 0 1 0 0
LHX 0 1 1 0 0 0
MRVL.O 0 1 0 0 1 0
NLS 0 1 0 1 0 0
PCG 0 1 1 0 0 1
MINT.K 0 1 0 1 0 0
PLNT.K 0 1 0 0 0 1
PPL 0 1 1 0 0 0
AGQ 0 1 0 1 1 0
RRC 0 1 0 0 0 1
RP.O 0 1 0 0 0 1
SNY.O 0 1 0 1 0 0
SO 0 1 1 0 1 0
YNDX.O 0 1 0 0 1 0
Totals 8 29

On the weekend, after I eyeball the screen output in my own charts, I pick a few to add to the swing trade chart picks list in Liquidity Trader. Then I track them until they hit their closeout signal. They are like trailing stops, based on programmed cycle lines. I also post and update those each week.

Here’s an example of one of my charts. I’ll just pick the first one. Happens to be Astra Zeneca, which had a little news yesterday. I ignore news based signals, usually, but not always. It depends on the overall structure of the pattern. But I also avoid anything to do with pharmaceuticals or biotech. Too many surprises, that don’t get telegraphed in the prior chart patterns. And many of them aren’t good surprises like AZN had yesterday.

Anyway, this POS has some work to do before proving that it has broken and emerged from its downtrend.image.pngClick to enlarge

At 6:40 AM in New York, the ES fucutures were heading for a test of a key support juncture around 3905. If that holds, bulls get another shot to run. They’d have room too. The next overhead resistance level is around 3944.

On the downside, there are multiple potential support levels every 5 points or so down to 3890. If they do break 3905, it looks like a bouncy ride downhill.

tvc_ff068a62a1c73a2f9074b8162233a225.png
Click to enlarge

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Meanwhile, Liquidity Trader Presents for your listening and dining pleasure:

Faint Hope, or Just a Feint, for Gold

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Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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