Monday, April 1:
Of 2,399 stocks and exchange-traded funds in this week's analytical universe, 13 that are traded on the major American stock exchanges broke beyond their 20-day price channels, one to the upside and 12 to the downside.
None survived my initial screens. TAT had sufficient odds and profit, but it is scheduled to release earnings on April 2 -- maybe -- and so fails my rule against opening new positions within 30 days of an earnings announcement.
I say "maybe" because TAT in mid-March delayed its earnings announcement after discovering it had understated its depletion expensive from 2009 onward. Oops!
TDAmeritrade says the announcement is April 2. If it happens, and if TAT breaks beyond its 20-day price channel on April 3 or thereafter, it would be a candidate for trading under my rules, although low liquidity and an extremely limited options selection make it unlikely that I would take any trade in this stock.
The bottom line for my trading is: No new positions on Tuesday.
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