2/25 Channels

• Bear positions:
• STT and WDC break out.
• CMA breaks out, but then is stopped two days later on a price rise.
• Long-running bear position on Turkey (TUR) added.
• ABT crosses the upper 20-day channel line and returns to neutral phase.

Bull Positions

sym	bday	blevel	stop	adx ≥40?	2-day?
DELL	feb16	$14.46	$14.20
EBAY	feb1	$31.64	$30.69
EWJ	feb2	$11.25	$10.91
JNK*	feb4	$40.52	$40.20
JNPR	feb4	$38.73	$37.57
PM	feb15	$60.14	$58.68
SLV	feb17	$30.44	$29.53
USO	feb23	$39.48	$38.30		x
WFT	feb1	$24.11	$23.39
XLY	feb7	$38.42	$37.74

Issues that I hold positions in are marked with an asterisk (*). "X" after a symbol means it is slated for removal from the list.


Bear Positions
STT, WDC break out.
Added TUR, a long-running bear position again testing the lower line.
ABT out on upper channel cross.
CMA breaks out, then stopped two days later on price rise.

sym	bday	blevel	stop	adx ≥40?	2-day?
ABT	jan28	$46.03	$47.41
AMGN	feb18	$52.36	$53.51
AMR	jan20	$7.54	$7.77
BBY	feb11	$33.40	$34.40
BRCM	feb18	$41.94	$43.20
CMA	feb23	$37.48	$38.60		x
EWH	feb22	$18.33	$18.76
EWS	feb22	$13.20	$13.27
EWT	feb22	$14.53	$14.97
EWW	feb23	$59.76	$61.24		x
FTR	feb23	$9.06	$9.31
JNJ	jan25	$61.25	$62.30
NOK	feb14	$9.08	$9.35
STT	feb24	$43.78	$45.09		x
TGT	feb18	$53.06	$53.62
TUR	jan27	$62.87	$64.76
USD/CHF	feb23	SF0.92978	SF0.93922
WDC	feb23	$31.35	$32.29

Issues that I hold positions in are marked with an asterisk (*). "X" after a symbol means it is slated for removal from the list.

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

Tracking for a bull breakout
None.

Tracking for a bear breakout
None.

Key

• 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.

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.