Monday, March 17, 2014

Monday's Prospects: Round 2

Of the five major-exchange symbols that survived the first-round of screening described in "Monday's Prospects", the two bear signals are too illiquid to trade, and the three bull signals have charts with a bearish cast.

I next turned to my fall-back group, the high-volume breakouts to the downside that make the list regardless of their historical odds of success.

No joy to be found on that list either. Only BIDU and GILD confirmed their bear signals in trading today, and both have a significant intra-day rise that runs counter to the signal.

Both have charts that seem to be transitioning from a bull phase to a bear, but it is far from certain, and I would want to allow the pattern to work a bit more before considering a trade.


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

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