There's no need to sugar coat this -- the results of my bull charts from late July through mid-August are fairly brutal after months of strong performance.
Out of approximately charts, only five came in with what I consider solid results. I'd grade one other chart as average, while I'd give the rest D or F grades. All told, two-thirds of the charts were disappointments.
I could have argued for a slightly lower number of failing grades due to the simple fact that some buy entries never got triggered. But I think this review serves more to demonstrate how correlations in a highly volatile environment run.
The list is rather diverse, although it did lack much in the way of tech. However, it's pretty clear that technical strength didn't make much difference during the market's recent selloff.
Furthermore, I used several different indicators for triggers. But again, that didn't help much.
Lastly, this recap does help reinforce the idea of a) scaling out of a stock when targets are hit, b) not entering positions without a trigger and c) the importance of adhering to stops.
I said when I started this column that I would keep track of my results and follow up no matter what they showed. This is one of those times I would love to just sweep my performance under the rug and move on, but there's no accountability in that.
Here's a look at nine bull charts from the past few weeks. I'll post another nine shortly, along with results for my recent bear charts later today:
Anadarko Petroleum (APC):
BJ's Restaurants (BJRI)
Cheesecake Factory (CAKE)
Cisco Systems (CSCO)
CVS Health (CVS)
Finish Line (FINL)
Fiesta Restaurant Group (FRGI)