Friday's Outcomes: SDRL, XLP, CX, XLY, AMZN, FITB

I analyzed SDRL as a possible bull play but decided to add it to the Watchlist instead because of ambiguities in the chart. See "SDRL: A broken narrative".

I've closed two positions, both for losses. See "XLP: Bearish on consumer staples" and "CX: Bullish on concrete".

I've closed my bull position XLY, although it has not yet given an exit signal, and have put it on the Roll List for re-entry once the chart becomes clearer. See my entry analysis, "XLY: Correction over". I don't update posts with rolls, but only when I decide that no further rolls are possible.

I've removed two potential bear plays from my Watchlist. See "AMZN: A whipsaw waiting to happen" and "FITB: Bearish on a regional bank".

Reference

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 decisions for his or her own account, and take responsibility for the consequences.