Here's who didn't make the grade for the Watchlist, and why not.
Low or marginal average directional index, meaning the stock is prone to whipsaws (low is under 20, marginal is under 30): ADBE, AEO, EWZ, JBHT, JNJ, IBM, LEN, LLTE, MAT, MRVL, MU, NSM, NVS, SYK, TLCR, UUP and WFT.
Good adx but the signal is counter-trend: ADTN, FDX, FNSR, IYT, SFD and XLK.
I looked at MAT as a possible iron condor, a way of trading that profits from the price staying within a range. I would structure it for maximum profit between $22 and $25. Alas, the premium is way too low. So, it's a reject.
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