No. of Recommendations: 7
I've been experimenting with P123 short screens off-and-on for 20 years now. Our current market situation seems ripe for short opportunities. Here's a screen that has worked well for me.
close(0,#bench) < 1.07 * sma(200,0,#bench) //Market is not strong bullish
close(0,#bench) < SMA (20,0,#bench) //Recent benchmark weakness
(Close(0,GetSeries("$VIX")) > SMA(200,0,GetSeries("$VIX"))) //Fear is heightened
!GICS(TRADINGDISTRIB) AND !GICS(SERVICESUPP) AND !GICS(SERVICEPRO) //Avoid services industries
!GICS(SVCEDIV) AND !GICS(MEDIA) and !GICS(RETAILDISTRIB)
!GICS(UTIL) //Avoid highly regulated industries
DbtLT2CapPQ > DbtLT2CapPYQ // LongTerm Debt to Capital is increasing
Inventory(0,QTR) > Inventory(4,QTR)*1.6 //Inventory increasing
NPMgn%Q < NPMgn%PYQ //Net Profit Margin is eroding
SalesSurp%Q1 < 0 //Negative Sales Surprise last Quarter
BeneishMScore > -1.49 //Accounting looks fishy
Pr2SalesTTM != NA
FOrderOLD("Pr2SalesTTM",#All,#Desc,#Previous,TRUE)<=3 //Buy 3 w Highest PriceToSales
Check every 4 weeks.
During the last 6-year bull market it has had the following performance metrics:
Annualized Return: 23%
Max Drawdown: -19%
Sortino Ratio: 1.91
Beta: -0.37
Alpha (annualized): 29%
Currently, it recommends shorting: HIMS
Taz
