Trade Ideas: Follow up from Feburary 6th

I have included my own newsletter picks, and the first 8 lightning round picks of Jim Cramer from Friday (from Madd Money), February 3rd. For both sets of picks I have used Monday's open price as the 'entry price'. Unfortunately, I was unable to post last Monday's Trade-Ideas picks during trading hours - so I am using the closing price as the 'entry' price, giving mine and JC's picks a full trading day advantage.

All three sets of stock picks underperformed the market on average, and none of the stock sets were able to generate an overall profit. JC and I recorded a 50% win, with my Trade-Ideas scan underperfoming, with a 38% win.

However, the Trade-Ideas stocks had the lowest standard deviation in returns (0.02%), compared to the more volatile picks of my own (0.07%). Individually, my newsletter picks brought greater gains, but also bigger losses, compared to the Trade-Ideas selection. FYI, JC's picks had a standard deviation of 0.05%.



Popular posts from this blog

S&P "Bull Trap"?

Image
I thought there was sufficient evidence to argue against a "bull trap" in the S&P, but it would appear the market wasn't interested in such thoughts and sellers were quick to reverse the initial push above 4,200.  Adding to the pain were new 'sell' triggers in MACD and On-Balance-Volume, although the former occurred above the 'bullish' zero line, making it a weak signal. Selling volume ranked as distribution as selling momentum picked up speed.  The index is also underperforming relative to the Russell 2000. 
Read more

"Black Candlesticks" are a concern for the S&P and Nasdaq

Image
A bright start for bulls on the back of positive $NVDA earnings wasn't enough to generate a day of meaningful gains.  However, it did help stall the losses of the last couple of days. The Nasdaq was the biggest beneficiary of today's action, but not enough to see an end-of-day finish that cleared last week's swing high, nor delivery of a large white candlestick, despite the morning breakout gap.  Technicals are net bullish and relative performance against the S&P has become consistently stronger since the start of May.  While today's candlestick I would view as typically 'bearish', today's volume ranked as confirmed accumulation (bullish). Overall, I would be looking for higher prices from here. 
Read more

Round 2 for the bearish "black" candlestick in S&P and Nasdaq

Image
The Nasdaq started brightly but ended up closing below its open price, but above yesterday's close. The S&P did something similar, although the intraday range is narrower. These two setups are somewhat complicated by the new 'buy' triggers in On-Balance-Volume for both the Nasdaq and S&P. And the new MACD trigger 'buy' for the S&P. Price action is key, so I would expect the candlestick to trump the technical picture; watch for lower prices tomorrow.
Read more

Archive

Show more