3/7 Watchlist

Four additions to the bull position table: Agilent Technologies, Abbott Laboratories, Arch Coal, Yamana Gold and CIGNA Corp.

And five additions to the bear table: Citigroup, Cree, Microsoft, Marvel Technology and VIVUS.

Two bear positions have hit their stop/loss points: The Singapore index fund EWS, and Western Digital on a large upside gap after the company recalculated gross margins after its purchase of the Hitachi hard-drive unit.

Bull Positions
New breakouts A, ABT, ACI, AUY, CI.

sym	adx	traj	psar	bday	blevel	stop	2-day?
A				mar4	$45.02	$44.06	✔
ABT				mar4	$48.82	$47.55	✔
ACI				mar4	$36.50	$35.41	✔
AUY				mar1	$12.90	$12.51
CI				mar3	$44.00	$42.68	✔
CNO				feb28	$7.22	$7.00
DELL				feb16	$14.46	$14.20
EBAY				feb1	$31.64	$30.69
EWJ				feb2	$11.25	$10.91
GG*				feb28	$47.08	$45.80
GLD*				mar1	$139.00	$137.06
HNR				feb28	$13.92	$13.50
JNK*				feb4	$40.52	$40.20
JNPR				feb4	$38.73	$37.57
LPNT				feb28	$38.77	$37.61
PBR				feb22	$38.70	$37.54
PM				feb15	$60.14	$58.68
SLV				feb17	$30.44	$29.53
SLW*				feb28	$41.89	$40.63
TRGT				feb28	$27.97	$27.13
USO				feb23	$39.48	$38.30
XLY				feb7	$38.42	$37.74

Issues that I hold positions in are marked with an asterisk (*).


Bear Positions
New breakouts C, CREE, MSFT, MRVL, VVUS.
EWS, WDC stopped.

sym	adx	traj	psar	bday	blevel	stop	2-day?
AMGN				feb18	$52.36	$53.51
AMR				jan20	$7.54	$7.77
BBY				feb11	$33.40	$34.40
BRCM				feb18	$41.94	$43.20
C				mar4	$4.54	$4.68	✔
CREE				mar4	$50.05	$48.55	✔
CX				feb22	$9.10	$9.37
EWS				feb22	$13.20	$13.27
FCX				feb22	$52.31	$53.88
FTR				feb23	$9.06	$9.31
MRVL				mar4	$17.60	$16.28	✔
MSFT				mar1	$26.43	$27.22
NOK				feb14	$9.08	$9.35
NTAP				feb22	$51.76	$53.31
TUR				jan27	$62.87	$64.76
USD/CAD				feb25	C$0.98150	C$0.99012
USD/CHF				feb23	SF0.92978	SF0.93922
VVUS				mar1	$7.27	$6.91
WDC				feb23	$31.35	$32.29
WMT				feb22	$53.14	$54.73

Issues that I hold positions in are marked with an asterisk (*).

Key

• adx: Average direction index location, indicating the strength, or the temperature, of the trend. Orange for 40 or greater, aqua (light blue) for 30 and up but below 40, magenta (light purple) for 20 and up but below 30, and brown for anything below 20. (Mnemonic: Orange for the overhead sun, blue for the surrounding sky, purple for sunset on the horizon and brown for the earth.)
• traj: Trajectory of the ADX, green for strengthening, red for weakening or yellow for unchanging. Note that if the adx column is orange and the trajectory column is red, then the position must be closed.
• psar: The parabolic sar, either green for bullish or red for bearish.
• 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.
• 2-day?: Marked with an "✔" if the two-day rule is in effect. Under the rule, if the price closes below the breakout level on each of the two days following breakout day, 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.