Friday, April 25, 2014

Friday's Prospects: Round 2

Updated with non-confirmation and so no plans to do a full analysis of GMK.

GMK, the sole survivor of my first round of analysis, confirmed its bull signal today, continuing to trade above its breakout level. failed confirmation today.

GMK, as it turns out, broke above its 20-day price channel upon publishing earnings, and so comes under the special earnings confirmation rule.

Normally, confirmation means closing the next day beyond the breakout level. In the case of earnings, the symbol must do a double confirmation: Trade the next day, called "reset day", beyond the new 20-day price channel boundary produced by the breakout, and then confirm the day after by trading above the reset day breakout level.

I'm doing no further analysis today due to a scheduling conflict. but shall do a full work up on the symbol over the weekend.

See "Friday's Prospects" for my first-round results.


My shorter-term 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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