The one survivor among the large- and mid-cap symbols traded on major exchanges, ASBC, was a bear signal, but it lacks the liquidity needed to support a bear trade. Sames goes for ANGO, the small-cap symbol that broke out to the downside.
The three high-volume large-cap symbols from round one that broke out to the downside rose to within their 20-day price channels and so failed confirmation: QQQ, QLD and SCHW.
That leaves the one upside breakout of the lot: Horizon Pharma Inc. (HZNP), a small-cap company. I'll be posting an analysis later in the day.
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.