Thursday, August 22, 2013

Thursday: No Trade

Two symbols survived last night's initial screening, a bull signal from EDZ and a bear signal from BSAC. (See "Thursday's Prospects".)

EDZ confirmed the bull signal by trading above the breakout level, despite opening 3.1% below Wednesday's close. That magnitude of a drop gives me sufficient pause to reject the trade out of hand.

BSAC confirmed the bear signal but lacks sufficient liquidity to support a short sale and open interest to support a short bear vertical spread.

I won't analyze either of these symbols further and don't intend to open any new position today.


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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