Of those, one, ALTR, was included on the list due to a data error.
Three -- AL, INTC and VSI -- failed confirmation by moving back within their 20-day price channels, thereby negating their bear signals.
One, URI, has an overly wide bid/ask spread.
All but three of the others have insufficient implied volatility on their options to support a leveraged and hedged position.
That leaves three symbols on the table: HAL, EWW and TD.
Signals given by breaks beyond a 20-day price channel boundary often are false positives. They don't represent breaks beyond support or resistance on the chart.
In such cases, I add the symbol to my Watchlist with an alert placed at the true breakout level on the chart.
HAL, EWW and TDD are false positives and shall be added to the Watchlist with the following alerts:
- HAL, <37.21
- EWW, <54.46
- TD, <39.56
I consider symbols from the Watchlist as they break beyond their alert levels. I intend to open no new positions today based on Tuesday's markets.
-- Tim Bovee, Portland, Oregon, March 11, 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.
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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.