Monday, August 4, 2014

Tuesday's Outcomes: WMB, MO, NOV

I've removed three symbols on my Watchlist. None have had a full analysis.

WMB was added as a potential bear play after it broke below its 20-day price channel after earnings were published. The earnings rules on confirmation require that the symbol close the next day beyond the low set on the first trading day after earnings were announced. WMB closed above that level, and so failed confirmation.

I put MO and NOV on the Watchlist on July 31 as potential bear plays, and the "Round 2" post for that date has an extended analysis of the pros and cons of taking a trade in the symbols. As it is, both have quickly lost their downward momentum, and I'm removing them from consideration.


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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