We have a selloff in the pre market, but the TA says, don’t trust it yet. Or maybe, “Trust, but verify,” for those of you of a certain age, like me.
Meanwhile, as for chart picks, I didn’t see much that I liked in this week’s screens. I didn’t add any longs. We’re already loaded to the gills there. I added two shorts, and one is conditional on a limit price entry.
4 picks were stopped out last week. With the the 2 new picks, that will leave 16 open picks, including 12 longs, and 4 shorts.
List performance improved last week, with the average gain increasing from +2.9% to +3.8%. The average holding period rose from 12 calendar days to 13, which is still less than the usual 16-20 days because I added a slew of new picks the previous week.
Chart picks are theoretical, assume 100% cash stock trades, no margin, no options, no futures.
I once read somewhere that past performance doesn’t indicate future results, or something. Is that true? Hopefully it is, considering some of my past performances.
Read on →