The most liquid, LUV, has a negative win/lose yield spread on even odds of a winning or losing trade since its present trend began in April 2012. I like the yields to be in my favor if the odds aren't.
Two symbols have historical odds in favor of unsuccessful trades. The success rate for GWW is 40%, and for GIII, 29%. It's a preference that I go against if the chart has a redeeming feature that shows things might well be changing. There are no such features on these two charts.
IHS and GHL are both in upside corrections within bear trends, and arguably near the top of the corrections. My opinion would change for IHS if it traded above $118.93, and for GHL, above $61.99.
No trade 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.
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