Monday, January 31, 2011

1/31 Channels

  • MO to bear phase.

Bull Positions
Stopped: XLU. Removed GE, MU, XOM for age.
symbdayblevelstopadx ≥40?2-day?
ORCL jan20 $32.27 $31.42    
WMT jan20 $55.72 $55.07    
Issues that I hold positions in are marked with an asterisk (*).

Bear Positions
Added MO
symbdayblevelstopadx ≥40?2-day?
ABT jan28 $46.03 $46.55   x
AMR jan20 $7.54 $7.78    
ATVI jan28 $11.18 $11.47   x
BBD jan28 $18.99 $18.99   x
CREE jan28 $50.88 $52.10   x
DELL jan28 $13.12 $13.55   x
EWZ jan28 $73.20 $74.15   x
FXI jan28 $41.91 $43.05   x
GPS jan27 $19.61 $20.06    
JNJ jan25 $61.25 $61.68    
MNKD jan20 $5.07 $6.28 x  
MO jan31 $23.70 $23.84   x
T jan28 $27.49 $28.07   x
WIN jan28 $12.69 $12.95 x x
XRX jan26 $10.95 $10.85    
Issues that I hold positions in are marked with an asterisk (*).

Here are the potential trades that I’m tracking using channel analysis.

Nearing a bull breakout
Removed EBAY

Nearing a bear breakout
Removed AMD; promoted MO

  • bday: Breakout day, the day the price broke through the upper or lower 55-day price line.
  • blevel: Breakout level, the price level of the line that was broken through.
  • stop: The current stop/loss price. Early in a bull or bear phase, this will be 5¢ below the low or above the high, respectively, on breakout day.
  • adx ≥ 40?: Marked with an "x" if the ADX is at 40 or above, the levels that require an exit if the adx turns down.
  • 2-day?: Marked with an "x" on the two days following breakout day. Under certain circumstances, if the price closes below the breakout level on both days, then the position must be exited.

About channel analysis

Read a detailed explanation of my channel analysis method, including trading rules.

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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