Tuesday, November 4, 2014

Tuesday's Finalists: None

Monday's markets were a major yawn. The numbers tell the tale: Friday's trading: 117 bull and bear signals out of my analytical universe of more than 1,300 stocks and exchange-traded funds; Monday's trading: 28 signals, only a quarter of the prior trading day.

And in subsequent analysis, the seven survivors of the early rounds among Monday's breaks beyond the 20-day price channel proved lacking. (See "Tuesday's Prospects" for a report on Monday's trading.)

Three failed to show follow through, moving back within their 20-day price channels on Tuesday and therefore not confirming the bull signals: MMP, AMBA, and URI.

Four have charts that are insufficiently bullish to justify a trade: MU, FFIV, CGNX and EMC. By "insufficiently bullish", I mean that they've been on the rise recently but have failed to score a breakout beyond their recent high. Without the breakout, I consider the charts to be bearish.

The bottom line is that there were no survivors of the later rounds of analysis. I won't be doing further analysis or trading based on Monday's markets.

-- Tim Bovee, Portland, Oregon, Nov. 4, 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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Based on a work at www.timbovee.com.

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