Wednesday, October 16, 2013

Wednesday's Outcomes: BBY, TUMI, Debt Crisis

BBY rose to a higher high and then declined. I'm leaving it on the Watchlist rather than opening a bull position. See the update to "BBY: How high is high?".

TUMI failed to follow through on its exit signal. See "TUMI: Bearish on luggage".

As the debt-ceiling dispute in Washington nears a solution, of sorts, I'm prepared to roll back into the bull holdings I exited in late September. (See "Rolling away from risk".) I'll re-enter using my normal rules for rolls: A fresh break beyond the 20-day price channel in the direction of the former position, and no earnings announcements within 30 days. The earnings exclusion has blocked all of my rolls at this point.


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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