Of the others, TD and DNOW confirmed their signals but then showed momentum in the opposite direction, and PCLN and GNRC failed confirmation by moving back within their 20-day price channels.
LO has relatively low implied volatility, making it unsuitable for the kind of higher velocity trades that I'm looking for these days. RIG has the volatility, but it announces earnings on Feb. 25. My chances of making a profit if I trade around earnings is far greater than if I trade now, so I'm inclined to wait.
Bottom line: No trade based on Monday's markets.
-- Tim Bovee, Portland, Oregon, Jan. 13, 2015
References
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 volatility trading rules can be read here.
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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.License
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Based on a work at www.timbovee.com.
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