All were trading beyond their 20-day price channels at one-hour mark of the trading day. HDB and BPOP has set higher highs. KKR, however, had strongly reversed direction and was close to re-entering the channel, thereby negating the signal.
BPOP lacks sufficient open interest on its options to construct a trade, and all three have overly wide front-month at-the-money bid/ask spreads.
None meets my criteria for further analysis, and I won't be considering new positions based on Friday's markets.
-- Tim Bovee, Portland, Oregon, March 2, 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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