Monday, March 16, 2015

Monday's Finalists

Each of the nine symbols under consideration this morning confirmed its bear signal by continuing to trade below the lower boundary of the 20-day price channel.

However, five have insufficient open interest on their options to allow for a leveraged and hedged position, so I've stricken them from consideration. They are KEX, E, GNRC, SPW and PWR.

One has an overly wide bid/ask spread on its front-month at-the-money calls: USG.

Among the three remaining, FCX remains above resistance on the chart. I'll add it to the Watchlist with an alert below resistance A breakout and confirmation at that level will triggered an analysis.

Two two remaining, USO and OII, were above resistance at breakout and moved below it today. I shall add them to the Watchlist pending confirmation on Tuesday.


I've set these alerts on new additions to the Watchlist:
  • FCX <16.48
  • USO <16.30
  • OII <49.15
RRC, which was added to the Watchlist on March 13, has moved above resistance and so is failing confirmation. If that condition persists today, I shall remove it from the list.

DDD, which was added to the list on March 9, has broken below resistance. I'll post an analysis if the breakout is confirmed on Tuesday.

-- Tim Bovee, Portland, Oregon, March 16, 2015


My price channel trading rules can be read here. My long-term share trading rules can be read here.  My volatility trading rules can be read here. The channel rules are based on the classic Turtle Trading rules, which can be read here.

Elliott wave analysis tracks patterns in price movements. The principal practitioner of Elliott wave analysis is Robert Prechter at Elliott Wave International. His book, Elliott Wave Principle, is a must-read for people interested in this form of analysis, as is his most recent publication, Visual Guide to Elliott Wave Trading

Several web sites summarize Elliott wave theory, among them, Investopedia, StockCharts and Wikipedia.


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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 decision decisions for his or her own account, and take responsibility for the consequences.

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Based on a work at s ss'ss

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