Hawk’s Scan Sentry Report August 6
Welcome to Hawk’s Scan Sentry Report. This is Sunday night with ideas for stock trading for the week beginning August 8.
Wow, what a week. We all know what happened; at least we watched it unfold. As for last weekends stock picks, well, on Monday every one was showing a profit. But with the massive sell off of the entire market, those 4 particular recommendations ended up averaging a 2.5% loss if you had held them all week (which we didn’t do). Not bad considering the S&P lost over 8% last week.
Originally my plan this week was to discuss Jan Arps’ Trend Exhaustion tools a little bit and let everyone know that they are now available individually, or as a package in their own tool-kit which includes TE1(R2), TE2(EMRY), TE3(GD), and the Pullback23 indicator. Indeed there are some recent signals in the Trend Exhaustion tools. However, with the historic downgrading of US Treasuries by the S&P rating agency, the uncertainty in the European markets, and the likely volatility that will ensue, I am wary of using the Trend Exhaustion tools this weekend to find particular equity set-ups. Given the expected high volatility this week I will need more confirmation. I believe it would be safer and wiser to trade one of the equity indexes either via a futures contract or one of the ETF’s than it would be to try and trade individual stocks.
My analysis anticipates the markets will gap lower on Monday (granted I’m no economist); and I will be watching the Radar tools… especially Radar1 on a low sensitivity setting. If the indicator quickly shows longer than normal histogram bars I will enter in that direction. I expect that by that time the Radsar2 Price Acceleration Oscillator will have already made a quick move in the direction of the initial selling or buying. Given the rapidly rising volatility the last few weeks I will use the Arps Trender with a sensitivity setting of 1 or 2 on a daily chart as my stop unless that value exceeds my risk tolerance, in which case I will pass on the trade.
Once again I would like to thank you for taking your valuable time to read this blog. While you’re here, don’t forget to explore the rest of our website ( janarps.com ) and view our collection of YouTube videos demonstrating the use of some of our best selling indicators. And if you have not yet downloaded your free version of the Arps Universal Swing Tool, please go to our Free Stuff page and help yourself to this ‘Swiss Army Knife’ of price measurement. I want to point out that many of our most popular tools are available for the Ninja Trader and eSignal platforms. Also, feel free to call us at 336-282-1237 to discuss how we can program your trading ideas for Trade Station, MultiCharts, or Ninja Trader. We have been providing technical analysis programming services for over a quarter century now and look forward to offering you that experience to help you develop your trading ideas.
May the trend be with you,
Jan Arps’ Traders’ Toolbox is not an investment advisory service nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities customers should buy or sell for themselves. Examples presented on this site are for educational purposes only. It should not be assumed that the methods, techniques, or indicators presented in these examples will be profitable or that they will not result in losses. There is a high degree of risk in trading. Readers using this information are solely responsible for their actions and trade at their own risk. Readers should always check with their licensed financial advisor .