Tuesday, December 24, 2013

Tuesday: No Trade

My second-round analysis of Monday's trading signals (see "Tuesday's Prospects") turned up nothing that I think warrants a further look.

All of the symbols had given bull signals, and although some of the charts were uptrending, they tended to be either B-wave corrections, which I find to be notoriously fickle, or fifth waves with a significant life behind them.

The most likely candidate was VIP, but I found the count to be ambiguous. I'm putting VIP on my Watchlist until the chart resolves the count, and if it still sees tradable, then I'll do the full analysis.

In any case, even if I were to identify a trade, I would be unlikely to place it today because of the atypical nature of year-end holiday markets.

A reminder: The U.S. markets close early, at 1 p.m. New York time today, and will be closed entirely on Wednesday for the Christmas holiday.



My shorter-term 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.

No comments:

Post a Comment