Two new breakouts, Yum! Brands and the utilities exchange-traded fund. Utilities has been flirting with a breakout since late January, but only now has it pierced upper channel line while with a strengthening trend.
eBay dropped through the lower price-channel line and has moved to neutral phase.
Goldcorp's near-term phase has switched to bearish within the context of a longer-term bear trend. The price has declined each of the last three trading days.
On the bear list:
Four new breakouts, Amazon.com, Dendreon, and two gaming companies -- Starwood Hotels (with the coolest ticker symbol ever, HOT) and Las Vegas Sands.
Marvell Technology hit its stop/loss and has moved to neutral phase.
Bull Positions
New breakouts XLU, YUM.
ABT, ACI, CI closed under the two-day rule.
EBAY closed after piercing lower price channel.
| 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 | ||||
| XLU | mar8 | $32.38 | $31.81 | ✔ | |||
| XLY | feb7 | $38.42 | $37.74 | ||||
| YUM | mar8 | $51.54 | $50.08 | ✔ |
Bear Positions
New breakouts AMZN, DNDN, HOT, LVS.
MRVL closed after piercing stop/loss.
| sym | adx | traj | psar | bday | blevel | stop | 2-day? |
|---|---|---|---|---|---|---|---|
| AMGN | feb18 | $52.36 | $53.51 | ||||
| AMR | jan20 | $7.54 | $7.77 | ||||
| AMZN | mar7 | $166.90 | $171.91 | ||||
| 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 | ||||
| DNDN | mar7 | $31.89 | $32.85 | ✔ | |||
| FCX | feb22 | $52.31 | $53.88 | ||||
| FTR | feb23 | $9.06 | $9.31 | ||||
| GOOG | mar7 | $587.67 | $605.30 | ✔ | |||
| GS | mar7 | $160.12 | $164.71 | ✔ | |||
| HOT | $57.84 | $59.58 | ✔ | ||||
| LVS | mar9 | $41.87 | $43.1 | ✔ | |||
| 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 | ||||
| WMT | feb22 | $53.14 | $54.73 |
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.
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