Thursday, June 26, 2014

Thursday's Prospects: Round 2

Only one of the eight symbols that survived my first round of analysis has made it through the second round: MPLX, a master limited partnership in crude oil based in Ohio.

Half of the symbols either failed confirmation or had faltering momentum. One, BRX, has been traded for less than a year and so ran afoul my rule disqualifying symbols without at least a year's history.

MAIN had an insufficiently bullish chart to consider a play and ALJ has insufficient open interest on its options to use them in constructing a bear play.

MPLX has a bullish chart. Because it is an income play, it would go much better as trade under my longer-term rules, and I'll post an analysis prior to the closing bell considering it in that light.

See "Thursday's Prospects" for a list of symbols that survived my first round of analysis.

-- Tim Bovee, Portland, Oregon, June 26, 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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