Thursday, May 15, 2014

Thursday's Prospects: Round 2

It is a whipsaw Thursday in the markets, with a high number of non-confirmations among the eight survivors of my first round of analysis. (See "Thursday's Prospects".)

Both symbols from the large-/mid-cap list -- EOC and CAG -- moved back within their 20-day price channels, thereby failing to confirm their bull signals.

PXLW on the small-cap list and ACGBY, which trades over the counter, also failed confirmation.

That left four small-cap issues: A bull signal on SRLP and bear signals on UMH, ISSI and EXPO.

As is common with small-caps, the three bear signals have insufficient open interest on their options for me to use htem in onstructing a bear position.

The final survivor, SRLP, has only been trading for eight months. I require at least a year of history before I'll trade a symbol.

There were no large-cap bear signals on my supplemental list, making the day a total strike-out. I won't be analyzing any stocks or funds from the shorter-term prospects lists today.


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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