- ORCL, XOM promoted to bull position (XOM's confirmation is weak).
- SDS promoted to bear position on weak confirmation.
- Bull play SBUX stopped on Wednesday fall, but moves back above stop/loss level post-earnings today. But the adx declines. My verdict: "Sell! Sell! Sell!"
- Bear plays ABX, GDX, SLW and YHOO stopped.
- UAL, WDC pull back from near breakthrough on the bear side.
Bull Positions
Stopped: SBUX. Added: ORCL, XOM
| Sym | Stop | ADX ≥40 | 2-day |
|---|---|---|---|
| GE | $19.69 | x | |
| MU* | $8.78 | ||
| ORCL | $31.42 | ||
| SBUX* | $33.01 | ||
| WMT | $55.74 | ||
| XLU | $31.83 | ||
| XOM | $79.36 | x | x |
Bear Positions
Stopped: ABX, GDX, SLW, YHOO. Added: SDS.
| Sym | Stop | ADX ≥40 | 2-day |
|---|---|---|---|
| ABX | $47.13 | ||
| AMR | $7.78 | ||
| GDX | $54.73 | ||
| MNKD | $6.28 | x | |
| SDS | $22.55 | x | |
| SLW | $30.34 | x | |
| WIN | $12.97 | x | x |
| XRX | $10.95 | x | |
| YHOO | $15.77 | x |
Here are the potential trades that I’m tracking using channel analysis.
Bull breakout within the last two days
ORCL promoted to bull position.
| None |
Nearing a bull breakout
| CAL | EBAY |
Unconfirmed bull breakout within the last five days
XOM promoted to bull position on adx confirmation.
| None |
Bear breakout within the last two days
| None |
Nearing a bear breakout
UAL, WDC removed
| AIG | ATVI | BBD | CREE | DELL |
| M | MTG | PM | TLT | USD/CHF |
Unconfirmed bear breakout within the last five days
SDS promoted to bear position.
| None |
About channel analysis
Read a detailed explanation of my channel analysis method, including trading rules.
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 decision decisions for his or her own account, and take responsibility for the consequences.
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