Monday's Prospects: Round 2

Three of the nine mid- and large-cap survivors of my first round screening (see "Monday's Prospects") failed confirmation this morning by moving back within their 20-day price channels.

The two breakouts to the downside that survived confirmation had options that were too illiquid to support a bear position.

The remaining bull signals, RTN, PFPT, AZPN and LLL, had bullish charts. The problem is, they were too bullish. They've shot up a very long way.

That gives me pause because of  the development of air pockets in the broad market last week. I liked AZPN the best, but not well enough to overcome my bearish misgivings.

The surviving small-cap symbol, a downside breakout, was too illiquid to trade.

So I went to my high-volume breakouts and found that Symantech Corp. (SYMC) has the chart I like best at first glance. I'll be analyzing that symbol later in the day as a potential bear play.

References

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

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.