Monday's Prospects: Round 2

The survivors of my first round screening, listed in "Monday's Prospects", fared poorly in the second round of analysis, as the broad markets reversed direction with the first lower open on the S&P 500 since Feb. 19.

Market news stories blamed the Ukraine crisis. "U.S. Stocks Fall on Ukraine Unrest", trumpets the Wall Street Journal. Me, I'm not so sure. The markets are complex beasts that move from a tremendously rich stew of motives.

Only nine out of 24 large- and mid-cap prospects confirmed the trading signals of Friday by continuing to trade beyond their 20-day price channels. At first glance I found all of their charts to be wanting. RGA, with a bull signal, came closest to making the grade but fell short.

Four out of 11 small caps confirmed their signals. TTHI, also a bull signal, was the best prospect, but in the end I rejected it because I found its chart to be quite ambiguous.

Bottom line: I won't be trading any of the stocks from Monday's list of potential trades.

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.