Friday, May 30, 2014

Friday's Prospects: Round 2

Eight of the 25 symbols that survived my first round of analysis failed confirmation in the second round because their prices moved back within their 20-day price channels. Six more failed because their charts weren't aligned with the trading signals, showing faltering prices despite the bull signals. One, TRQ, had insufficient open interest on its options to support a bear play and in fact it slipped through the first round of analysis in error.

(See "Friday's Prospects") for details of my first round of analysis.)

That left 10 contenders, all with bull signals and all with bullish or near-bullish charts: TSN, CE, M, PKG and AMSG from the mid-/large-cap list, IG, REI and HA from the small-cap list, and HYPMY and CHEUY from the over-the-counter list.

My next stop was Zacks Investment Research, where I learned that of the 10, only one symbol had a bullish rating.

That one symbol is HA, and I shall write an analysis of it today as a potential bull play under my shorter-term rules, posting it prior to the closing bell.

-- Tim Bovee, Portland, Oregon, May 30, 2014


My shorter-term trading rules can be read here. My longer-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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