Friday, August 30, 2013

Friday: No trade

Two symbols survived my initial screening last night, both having broken out to the upside. (See "Friday's Prospects".)

Further analysis has removed both from my list of potential trades.

ARB (Arbitron) is in the midst of being acquired by competitor NLSN (Nielson). My rules exclude takeover targets.

The other prospect, KLBAY, is the American ADR for the Brazilian paper products company Klabin SA.

KLBAY, with an average daily volume of 197 shares, can be technically traded under my rules but is simply too illiquid for me to seriously consider opening a position.

Besides, a 4.1% bid/ask spread on shares is way too rich more my taste.

Bottom line: I won't be opening any new positions on Friday.

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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