Monday's Prospects: Round 2

An unusually large number of symbols that survived my first round of screening failed to confirm their signals today by returning to within their 20-day price channels. Altogether, eight out of the 24 survivors failed to confirm.

See "Monday's Prospects" for the first-round screening list.

Of the symbols that made to the second round of screening, the final four were IART, PL and CFR -- all with bull signals -- and VALE with a bear signal.

I selected VALE for further analysis. At first glance, I think its chart is more bearish than the others are bullish, and VALE is helped along by being a very liquid bear play, something that doesn't come along every day.

I'll post my analysis of VALE later during the trading day.

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.