Wednesday, August 28, 2013

Wednesday: No Trade

Seven symbols survived my initial screening last night, all potential bear trades. Further analysis today found them all wanting.

Two failed confirmation: TDC and IGTE.

Four had options with insufficient open interest to supprt a bear trade: FMER, HSP, CPWR and MSTR.

The last symbol standing, WCRX, as it turns out, is in the process of being acquired by ACT and so is disqualifed for trading under my rules. (If that's not an explicit clause in my trading rules, it ought to be and I'll add it in.)

I won't be opening 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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