4/16 Rejected

A full page and a half of parabolic sar signals today, none of them tradable under my rules. I mean, zero, nada, zilch.  My pen is out of ink, I have writer's cramp, and I have nothing to show for it.

Let's do the financials first. They all are showing parabolic sar bear signals that are counter-trend the high average directional indexes, and their earnings announcements are within the lifetime of the May options.

Three strikes, they're out.


The stocks are: BAC, BBT, BK, BRK/B, COF, FHN, FITB, GNW, GS, HBAN, JPM, MCO, MI, MS, PBCT, RF, STI, USB and WFC.

GS was knocked down by news that the SEC has filed fraud charges over the company's handling of subprime mortgage debt products. MCO got dragged down in the process, because it certified a number of mortgage-based complex debt products.

And arguably, the whole financial sector got bumped down, because it's clear that the long knives are out and retribution is on the way.

On days like these, I'm glad I'm not a banker but only a simple private trader.

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Then there are the minerals -- gold and oil. They all have low adx readings, which means I don't trade them directionally. And they also have earnings that are within the lifespan of the May options. Two strikes, they're out.

The minerals stocks are: ABX, AUY, CNX, FCX, GG, HL and SU.

Then there are the global companies, caught up in the emerging markets downturn.

Generally low to marginal adx readings but no earnings looming. One strike, they're out. (I play a tough umpiring game.)

The global stocks are: BBD, ITUB, VALE. The final company, VALE, is a global mining company, so that's a double strike today.

And here's what's left:

• BSX, bull, analyst comment, marginal adx, earnings 4/26
• DIS, bear, counter-trend, earnings 5/11
• GOOG, bear, on earnings announcement
• HST, bear, counter-trend, earnings 4/28
• JDSU, bear, counter-trend, earnings 5/3
• LVS, bear, counter-trend, earnings 5/5
• M, bear, counter-trend, earnings 5/13
• MGM, bear, earnings 5/3
• MO, bear, earnings 4/21
• NVDA, bear, counter-trend on earnings announcement
• PG, bull, earnings 4/29
• SLE, bear, earnings 5/6
• STEC, bull, earnings 5/11

Of those, many have low or marginal adx readings. They are BSX, GOOG, MGM, MO, NVDA, PG, SLE and STEC.

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