4/8 Rejected

I've finished today's scan with really slim results. This is just not a signal-rich period, at least for stocks with earnings a ways off.

Here are the signals I rejected, and why:

• ANF, bear, counter-trend
• BRCD, bull, takeover rumors
• JCP, bear, counter-trend, same-store sales, new guidance
• TGT, bull, same-store sales, guidance
• VLO, bear, news of an operating site coming on line
• XLI, bear, counter-trend.

A bit of a change from past practice. I avoided scanning stocks whose earnings I knew were near, and I'm not reporting them on this list, even though some may have shown signals.

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My policy is to not trade stocks if earnings will be released during the lifetime of the current options, into mid-may May at this point. And best case, I like for earnings to be a couple of weeks beyond options expiration.

With earnings near, the likelihood of a news surprise is just too great for my taste.

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