One, BG, met all of my criteria. However, it lacks Weeklys among its options inventory, and so a trade would require me to commit funds as the markets swing into the lucrative earnings season next week. Rather than taking this trade, I'd prefer to reserve my funds for earnings plays.
The remaining five symbols all have options that are too illiquid to support a hedged and leveraged position of the sort I prefer.
Bottom line: I plan to open no new positions based on signals from Wednesday's markets.
-- Tim Bovee, Portland, Oregon, April 2, 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.License
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