Wednesday, June 18, 2014

Wednesday's Prospects: Round 2

None of the 20 survivors of my first round of analysis made it past the second round. (See "Wednesday's Prospects" for a full list of the first-round survivors). All were bull signals.

Five fell back within their 20-day price channels, failing confirmation.

Of the rest, all but one had bearish charts, running contrary to the signal.

The one exception is CSTM, which has a bearish rating from Zacks Investment Research, the service I use as a window into a stock's fundamentals. I prefer that the signal and the Zacks rating be aligned, so it also failed a second-round test, leaving none.

I turned next to the supplemental list of large-cap stocks that had given bear signal and that I had exempted from the requirement that they have better than even odds of successful signals of that type.

One symbol was on the list, WMT. It has a bearish rating from Zacks and options that are liquid enough for a bear trade. I'll post an analysis prior to the closing bell.

Update: Oh, never mind! WMT -- my one symbol worthy of further analysis, as a bear trade -- has reversed to the upside this morning, rising back within the 20-day price channel and therefore failing confirmation. Therefore, I shall post no analysis today from Tuesday's breakouts.


-- Tim Bovee, Portland, Oregon, June 18, 2014
References

My shorter-term trading rules can be read here. My longer-term trading rules can be read here. And the classic Turtle Trading rules on which my rules are based can be read here.


Disclaimer
Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.
No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.
License

Creative Commons License

All content on Tim Bovee, Private Trader by Timothy K. Bovee is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Based on a work at www.timbovee.com.

No comments:

Post a Comment