Tuesday: No Trade

The four survivors of last nights initial screening confirmed their bull signals today but were knocked off my list in the secondary round of screening because of liquidity. (See "Tuesday's Prospects" for details of the initial screening.)

ATHN, BWLD, CLW and ICUI lack sufficient open interest on their options for me to create a hedged position. In each case, the breakout comes within an uptrend on the weekly chart, so each meets my preference for following trends rather than trading to the contrary side.

They would be worth further analysis with an eye toward a position made up of long shares. However, at this point I'm looking for the hedging and leveraging capabilities that options give me.

So, I won't be opening any new positions today.

References
My trading rules can be read here. And the classic Turtle Trading rules on which my rules are based can be read here.

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.