Monday, April 4, 2011

4/4 Top Prospects

Issues that are candidates for new positions in my accounts.

    Bull Changes:
  • Demoted from Top Prospects on pullback: AIRM, ALXA, HLF, MO, T, VZ.

    Bear Changes:
  • None.

Bull Positions
sym adx traj psar bday blevel bstop 2-day?
AGP       mar28 $61.39 $59.81  
BHI       mar24 $71.90 $69.41  
BIDU*       mar23 $131.63 $127.28  
BTU       mar18 $70.84 $67.89  
CAT*       mar21 $105.86 $103.58  
CBI       mar18 $38.18 $36.60  
CI       mar31 $44.20 $43.29  
CL       mar25 $80.45 $79.33  
CVI       mar25 $21.68 $20.51  
CVX       2010dec6 $86.19 $84.63  
DFS       2010sep23 $16.49 $15.99  
EEM       mar30 $48.21 $47.41  
EL       mar28 $95.55 $93.26  
EWA       mar30 $26.35 $25.83  
EWY       mar30 $63.73 $62.57  
EZA       mar30 $72.63 $70.85  
FIS       mar30 $32.53 $31.99  
GILD       mar24 $41.82 $41.02  
GMCR       feb3 $38.86 $37.46  
GME       mar29 $22.40 $21.83  
GNRC       mar29 $19.65 $19.02  
HDB       mar28 $164.16 $160.06  
HON       mar28 $58.19 $56.96  
HP       2010nov11 $45.12 $43.98  
ITMN       mar3 $39.71 $38.22  
JAZZ       mar3 $25.48 $24.37  
KO       mar30 $65.88 $64.87  
LFUS       mar25 $54.98 $53.60  
LXU*       mar24 $37.74 $36.51  
MCP       mar29 $57.40 $54.05  
MEE       mar23 $67.17 $64.55  
MKTX       2010sep9 $16.00 $15.50  
MRO       2010dec22 $36.43 $35.88  
NBR       mar24 $28.80 $28.40  
PCL       mar18 $42.71 $41.78  
PCLN       mar24 $474.74 $462.25  
PFE       jan4 $17.90 $17.67  
PH       mar25 $93.60 $91.52  
RAVN       mar22 $56.55 $54.59  
SRCL       mar25 $88.28 $86.22  
SUN       mar25 $45.35 $43.99  
SUP       mar16 $21.84 $20.99  
SWN       mar16 $40.16 $38.90  
THD       mar29 $65.71 $64.60  
TSCO       jan27 $49.64 $48.94  
TSO       mar25 $26.72 $25.51  
UNH       mar30 $44.89 $44.06  
WDC       mar25 $36.79 $35.40  
WFMI*       jan13 $51.75 $50.53  
WLK       feb16 $44.16 $42.92  
WLP       jan10 $61.00 $60.12  
WWWW       feb9 $10.35 $10.71  
XL       mar31 $24.66 $24.03  
XLE*       mar30 $79.62 $77.94  
XOP       mar30 $63.77 $62.09  

Bear Positions
sym adx traj psar bday blevel stop 2-day?
AIG       feb23 $39.52 $40.76  
BBY       feb11 $33.40 $34.01  
BRCM       feb18 $41.94 $43.21  
DAL       jan18 $12.15 $12.56  
LEN       mar30 $18.75 $19.35  
RIMM       mar25 $58.53 $60.61  
SEED       mar3 $8.62 $9.06  
Issues that I hold positions in are marked with an asterisk (*).

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.

  • 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.

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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