Monday, April 4, 2011

4/4 Bull Worksheet

Issues in bull phase that presently are not top prospects for new positions in my accounts. (See the Top Prospects posting for issues that I’m considering for new positions.)

    Changes:
  • Recent breakouts: ADSK, DO, ORCL, WLT.
  • Demoted from Top Prospects on pullback: AIRM, ALXA, HLF, MO, T, VZ.
  • Hit stop/loss (Exit 2): CDPYF, WRE.

Not Top
Issues that are not Out of Play but fall short of being Top Prospects.

sym adx traj psar bday blevel bstop 2-day?
ABT       mar30 $49.13 $48.47  
ACI       mar31 $36.50 $35.26
ADSK       apr4 $44.44 $43.29
AIRM       mar11 $60.26 $58.03  
ALXA       mar28 $1.68 $1.57  
ANF       apr1 $59.88 $58.24
APA       mar30 $128.45 $124.99  
AUD/JPY       apr1 ¥86.105 ¥84.264
BA       mar31 $74.29 $72.83
BAX       apr1 $54.00 $53.05
BBD       apr1 $20.79 $20.26
BHP       apr1 $96.66 $94.52
CAP       mar2 $21.29 $21.07  
CB       mar30 $61.31 $60.44  
CENX       mar23 $17.71 $16.97  
CLH       2010dec2 $75.21 $73.80  
CSX       2010sep13 $55.22 $54.88  
CWEI       mar31 $106.20 $101.89
DE       apr1 $97.36 $95.23
DIA       apr1 $123.64 $122.24
DO       apr4 $80.20 $78.02
DORM       mar24 $39.00 $37.33  
DTV       apr1 $47.40 $46.47
EMN       mar24 $97.84 $95.26  
EOG       mar24 $115.17 $111.81  
EPI*       apr1 $25.13 $24.76
EUR/USD       mar2 $1.38605 $1.37375  
EWM       apr1 $14.98 $14.79
EWW*       apr1 $63.46 $62.35
EWZ       apr1 $79.09 $77.61
EZPW       mar23 $29.94 $29.97  
FAST       mar25 $63.74 $62.43  
FXE       feb28 $137.89 $136.95  
FXI*       mar31 $44.85 $44.15  
HK       mar17 $22.44 $21.60  
HLF       feb23 $71.16 $67.00  
IBN       mar25 $48.19 $46.88  
IDX       mar30 $29.43 $28.86  
IJR       mar31 $73.29 $37.51
IP       apr1 $30.44 $29.62
IPG       feb3 $11.34 $11.03  
IWM       mar31 $83.99 $82.66
JOYG       apr1 $100.58 $98.73
KMP       mar31 $74.32 $73.40
KRA       feb28 $33.66 $32.76  
LCUT       mar31 $14.60 $14.15
LEAP       mar23 $14.70 $13.98  
LPNT       mar30 $39.99 $39.10  
MDVN       apr1 $19.84 $19.05
MFB       mar31 $28.23 $27.57
MMM       apr1 $94.16 $92.59
MO       mar24 $25.82 $25.42  
NSRGY       mar30 $57.32 $56.47  
ORCL       apr4 $34.10 $33.25
PBR       feb22 $38.70 $37.81  
PM       mar25 $64.74 $63.66  
PVH       mar29 $64.40 $62.05  
REMX       mar31 $25.89 $25.04  
RSX       apr1 $42.17 $41.47
SBUX       mar7 $34.03 $33.17  
SLV*       feb17 $30.44 $29.79  
STX       apr1 $14.80 $14.33
T       mar28 $29.61 $29.08  
TPX       feb4 $44.95 $43.48  
USD/JPY       apr1 ¥83.966 ¥82.783
USO*       apr1 $42.83 $41.98
UTX       apr1 $85.46 $84.10
VIA.B       mar30 $46.65 $45.77
VLO*       mar29 $30.42 $29.22  
VZ       mar28 $37.32 $36.66  
WLP       apr1 $70.00 $68.67
WLT       apr4 $138.20 $133.58
WYNN       apr1 $132.25 $127.80
XLI       apr1 $38.09 $37.51
XLP       mar30 $29.96 $29.67  
XLV       mar30 $33.23 $32.85  
XME       mar31 $74.66 $72.82
XRT       mar30 $50.61 $49.58  

Out of Play
Issues whose parabolic sar diverges from the price-channel phase. If held, under my rules they are sold. If not held, they are not candidates for a new position.

sym adx traj psar bday blevel bstop 2-day?
LOW       mar8 $26.00 $25.89  
TRIB       mar3 $9.19 $8.84  

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


Evaluations
See the Top Prospects posting for issues evaluated as top prospects, and the Bull Worksheet and Bear Worksheet postings for other evaluations.
  • Top Prospects are issues upon which I would consider opening a new position.
  • Not Top plays are issues that are tradeable under my rules but fail to meet the criteria for Top Picks. It's not against my rules to trade these stocks, but their condition on the chart leaves me unenthusiastic about opening a new position.
  • Out of Play issues aren’t prospects for new positions under my rules because the parabolic sar phase doesn’t match the price-channel phase.

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.
  • bstop: The stop/loss price calculated on breakout days as the 14-day average true range below the breakout-day low for a bull phase and above thre breakout-day high for a bear phase.
  • 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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