Tuesday's Outcomes: USO, CHK

USO, which has been on my Watchlist since Sept. 24 as a potential bear play, dipped below its resistance in pre-opening trading and remained there throughout the day. I have opened a bear position and updated my analysis with details. See "USO: Crude bear play".

The one symbol that survived at night's screening, CHK with a bear signal, rose back within its 20-day price channel and so failed confirmation. See "Tuesday's Prospects".

References

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

By preference I place my trades in the last half hour before the closing bell in New York. See my essay "When is the best time to trade" for a discussion of the practice.

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.