The symbols that were confirmed, most of them potential bear plays, had charts that were ambiguous perhaps in a trend but not clearly so.
The two finalists in round 2 were QLIK and GG.
In the end I turned away from QLIK because of its tendency toward shallow corrections and sideways movements since it began trading in 2010. It simply doesn't tend to trend.
I rejected GG for extrinsic reasons: It is a bear play on gold, which would be fine under normal circumstances, but the uncertainties regarding Russia's actions in Ukraine make a bear play on gold especially risky in my opinion; a military surprise could send gold soaring.
I don't plan a full analysis of any symbol from Tuesday's list of potential trades, nor will I be opening any new position from that list. As always, it is possible that I'll close positions or open new positions off of the Watchlist or Roll Shelf.
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.