Thursday, November 20, 2014

Thursday's Finalists: SINA, X

The online media company SINA Corp. (SINA), headquartered in Shanghai, China and the Pittsburgh, Pennsylvania steel company United States Steel Corp. (X) were the two symbols that made it past the early rounds of analysis, both with bear signals. (See "Thursday's Prospects".)

Both confirmed their signals today by continuing to trade beyond their 20-day price channels, and both have bearish charts.

They both have sufficient open interest to support a bear trade, and their front-month at-the-mney bid/ask spreads are in the single digits. At first glance, there is nothing to hate here.

However, X has a blemish, like a mole marring an other lovely face. It has a bullish rating from Zacks Investmen Research, the service I use to as a guide to fundamental analysis and Street opinion. I don't always listen to Zacks, but all else being equal, I tend to go for the play that is aligned with the Zacks rating.

I'll be posting a full analysis of SINA prior to the closing bell.

-- Tim Bovee, Portland, Oregon, Nov. 20, 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. My very short term volatility trading rules 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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