Friday, July 26, 2013

RYCEY: No trade

Rolls-Royce Holding PLC (RYCEY) was the sole symbol to survive initial screening of Thursday's bull and bear signals. It confirmed a bull signal by trading above the breakout level on Friday. However, the breakout was a large gap to the upside, and the next day's trading was significantly lower.

In other words, a classic whipsaw.

Decision for my account: As a trend follower, I'm always reluctant to trade into the headwinds of a downside gap. So I won't be opening a new bull position in RYCEY.


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

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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