Hawk’s Scan Sentry Report July 17
Welcome to Hawk’s Scan Sentry Report. This is Sunday night with stock recommendations from Jan Arps’ Scan Sentry Toolkit for the week beginning July 18.
Last weeks picks did pretty well, both long and short, averaging almost 4% gain each over the week. SGI and SID both exceeded 9% on the short side while EXK gained over 7% for the week on a long position.
This week I performed my scan using the Arps Trend Exhaustion2 indicator at a setting of Sensitivity=5, Resolution=2.5. This identified for me about 30 stocks to examine (out of a pool of around 1500) which may be near a turning point at one extreme or the other. When I find ‘trend exhaustion’ stocks that are at their extremes, I then typically look for divergences against the Arps Radar1 Fear/Greed Indicator to judge the likelihood of a failure or breakout. When I find clear divergences I will then look for a cross of the fast and slow lines of the Arps Radar2 Price Acceleration Oscillator in order to confirm and time my entries. This type of a set up is generally a counter-trend trade so be careful fighting the prevailing trend and set your stop no farther than one ATR from the indicated Trend Exhaustion bar. I also picked a few this week which look like they might present the opportunity to follow through from a breakout.
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And now for this weeks stock recommendations….
May you trade joyfully and profitably,
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 .